Fortrea falls on downbeat forecast, Q4 loss

Fortrea Holdings

11/03/2024 11:31

** Shares of contract research firm Fortrea Holdings
 FTRE.O  fall 10% to $33.16 premarket
    ** Co forecasts 2024 revenue to be $3.14 bln to $3.21 bln,
with its mid-point below Wall Street estimates of $3.2 bln -
LSEG
    ** FTRE reports a Q4 loss of 41 cents/shr vs year-ago profit
of 38 cents/shr
    ** Co also says it will sell its enabling services segment
and patient access businesses to private equity firm Arsenal
Capital Partners for up to $345 mln
    ** Up to last close, stock up 5.5% YTD

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))