Fortrea delivered fourth-quarter results in line with full-year targets, showing resilience after a challenging first half of the year. While revenue declined year-over-year, the company achieved a strong book-to-bill ratio of 1.14x and focused on debt reduction and cost-saving initiatives to strengthen its balance sheet.

Fortrea delivered a solid second quarter performance, with revenue increasing to $710.3 million. Despite a significant GAAP net loss primarily due to a non-cash goodwill impairment charge, the company achieved positive adjusted net income and diluted EPS. The company also raised its full-year 2025 revenue guidance, reflecting confidence in its operational fundamentals.

Fortrea reported a net loss of $562.9 million in the first quarter of 2025, primarily due to a non-cash goodwill impairment charge. Despite this, the company's adjusted EBITDA increased to $30.3 million from $27.1 million in the same period last year, and revenue was $651.3 million.

Fortrea's Q4 2024 revenue was $697 million, reflecting a slight decline from the previous year. The company reported a net loss of $73.9 million, with adjusted EPS at $0.18. The book-to-bill ratio improved to 1.35x, indicating strong demand despite ongoing restructuring efforts.

Fortrea reported Q3 2024 results with revenues of $674.9 million, a GAAP net loss of $(18.5) million, and an adjusted EBITDA of $64.2 million. The book-to-bill ratio was 1.23x, and backlog increased to $7,571 million. Full-year 2024 revenue guidance has been updated to $2,700 million to $2,725 million.

Fortrea reported a revenue of $662.4 million for the second quarter of 2024. The GAAP net loss was $(99.3) million, with a diluted loss per share of $(1.11). Adjusted EBITDA stood at $55.2 million. The company revised its full-year guidance due to lower pass-through and service-fee revenues.

Fortrea reported Q1 2024 results with revenues of $662.1 million, a GAAP net loss of $81.6 million, and an adjusted EBITDA of $29.5 million. The company is progressing with its planned divestiture of assets and focusing on differentiating its services.

Fortrea reported revenue of $776.4 million for the third quarter of 2023, compared to $762.3 million in the third quarter of 2022. The company's GAAP net loss was $13.1 million, with an adjusted EBITDA of $70.5 million. The book-to-bill ratio for the quarter was 1.24x.

Fortrea reported second-quarter revenue of $793.0 million, which remained flat compared to the previous year. GAAP net income was $28.3 million, with earnings per share at $0.32. Adjusted EBITDA was $72.5 million. The company provided full-year 2023 guidance, expecting revenue between $3,034 million and $3,096 million, and adjusted EBITDA between $255 million and $285 million.