Fortrea Holdings Inc reports results for the quarter ended in March - Earnings Summary

Fortrea Holdings

13/05/2024 14:32

* Fortrea Holdings Inc  FTRE.OQ  reported a quarterly
adjusted
loss of 4 cents​​ per share for the quarter ended in March.  The
mean expectation of eight analysts for the quarter was
for earnings of one cent per share. Wall Street expected
results to range from -10 cents to 6 cents per share.
    * Revenue was $662.10 million​; analysts expected $754.58
million. 
    * Fortrea Holdings Inc's reported EPS for the quarter was a
loss
of $1.15​.
    * The company reported a quarterly loss of $102.8 million.
    * Fortrea Holdings Inc shares had fallen by 17.7% this
quarter and
lost 5.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 95.9%
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 "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 3
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the biotechnology
&
medical research peer group is also "buy"

Wall Street's median 12-month price target for Fortrea Holdings
Inc is $42.50 
This summary was machine generated from LSEG data May 13 at
01:31 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
 Mar. 31 2024      0.01           -0.04          Missed
 Dec. 31 2023      0.24           0.19           Missed
 Sep. 30 2023      0.16           0.24           Beat