Fortrea Holdings Inc reports results for the quarter ended March 31 - Earnings Summary

• Fortrea Holdings Inc FTRE.OQ reported quarterly adjusted earnings of 2 cents​​ per share for the quarter ended March 31, higher than the same quarter last year, when the company reported EPS of -4 cents. The mean expectation of nine analysts for the quarter was for a loss of 7 cents per share. Wall Street expected results to range from -24 cents to 3 cents per share.

• Revenue fell 1.6% to $651.30 million from a year ago; analysts expected $608.34 million.

• Fortrea Holdings Inc's reported EPS for the quarter was a loss of $6.25​.

• The company reported a quarterly loss of $562.9 million.

• Fortrea Holdings Inc shares had fallen by 18.5% this quarter and lost 67.0% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 137.9% in the last three months.​

• In the last 30 days, three analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy," 10 "hold" and 2 "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 $7.00

This summary was machine generated from LSEG data May 12 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)