Fortrea Holdings Inc reports results for the quarter - Earnings Summary

Fortrea Holdings

08/11/2024 16:15

* Fortrea Holdings Inc  FTRE.OQ  reported quarterly adjusted
earnings of 23 cents​​ per share for the quarter , lower than
the same quarter last year, when the company reported EPS of 24
cents.  The mean expectation of eleven analysts for the quarter
was for earnings of 25 cents per share. Wall Street expected
results to range from 18 cents to 31 cents per share.
    * Revenue fell 13.1% to $674.90 million from a year ago;
analysts
expected $674.90 million. 
    * Fortrea Holdings Inc's reported EPS for the quarter was a
loss
of 31 cents​.
    * The company reported a quarterly loss of $27.9 million.
    * Fortrea Holdings Inc shares had fallen by 9.7% this
quarter and
lost 48.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 9.1%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 8
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the biotechnology
&
medical research peer group is also "hold"

Wall Street's median 12-month price target for Fortrea Holdings
Inc is 21.00 
This summary was machine generated from LSEG data November 8 at
04:14 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2024      0.25           0.23           Missed
 Jun. 30 2024      0.08           -0.03          Missed
 Mar. 31 2024      0.01           -0.04          Missed
 Dec. 31 2023      0.24           0.19           Missed