Fortrea Guides FY25 Revenues Below Estimates As Q4 Results Miss Estimates; Stock Down 6%

(RTTNews) - Fortrea Holdings, Inc. (FTRE) reported Monday that net loss for the fourth quarter widened to $61.2 million or $0.68 per share from $54.5 million or $0.62 per share in the prior-year quarter.

Net loss from continuing operations were $73.9 million or $0.82 per share, wider than $48.6 million or $0.55 per share in the year-ago quarter. Excluding items, adjusted earnings from continuing operations were $0.18 per share, compared to $0.14 per share last year.

On average, 11 analysts polled expected the company to report earnings of $0.37 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter declined to $697.0 million from $709.7 million in the same quarter last year. Analysts expected revenues of $703.22 million for the quarter.

Looking ahead to fiscal 2025, the company now projects revenues in a range of $2.45 billion to $2.55 billion and adjusted EBITDA in a range of $170 million to $200 million. The Street is looking for revenues of $2.74 billion for the year.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com