Fortrea Q3 Loss Widens, Revenue Down

(RTTNews) - Fortrea Holdings Inc. (FTRE), a contract research organization, Friday reported net loss from continuing operations of $18.5 million or $0.21 per share for the third quarter, wider than $16.1 million or $0.18 per share loss in the same quarter a year ago, mainly due to decrease in revenue.

Excluding one-time items, the company posted income from continuing operations of $20.7 million or $0.23 per share, versus $20.1 million or $0.23 per share in the previous year.

Operating loss was $18 million compared with operating income of $103 million last year.

Revenue for the quarter decreased to $674.9 million from $713.8 million in the previous year.

For the full year, the company now expects revenue in the range of $2.7 billion - $2.725 billion, compared with the previous guidance of $2.7 billion - $2.75 billion.