Fortrea beats Q2 revenue estimates, raises 2025 guidance
Overview
Fortrea Q2 2025 revenue of $710.3 mln beats analyst expectations
Adjusted EBITDA of $54.9 mln exceeds estimates, per LSEG data
Company raises 2025 revenue guidance to $2.6 bln-$2.7 bln
Outlook
Fortrea raises 2025 revenue guidance to $2,600 mln-$2,700 mln
Company affirms 2025 adjusted EBITDA guidance of $170 mln-$200 mln
Fortrea assumes stable foreign exchange rates for 2025 forecast
Result Drivers
GOODWILL IMPAIRMENT - Net loss impacted by $309.1 mln non-cash goodwill impairment charge
COST SAVINGS - Cost saving initiatives remain on track, contributing to operational commitments
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $710.30 mln | $629.40 mln (9 Analysts) |
Q2 EPS |
| -$4.14 |
|
Q2 Net Income |
| -$374.90 mln |
|
Q2 Adjusted EBITDA | Beat | $54.90 mln | $39.20 mln (9 Analysts) |
Q2 Operating Income |
| -$330.30 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 8 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy."
Wall Street's median 12-month price target for Fortrea Holdings Inc is $5.50, about 19.3% below its August 5 closing price of $6.56
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago
Press Release: ID:nGNX76SHnT
