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Mar 31
Fortrea Q1 2025 Earnings Report
reported financial results for the first quarter ended March 31, 2025
Key Takeaways
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 revenue for Q1 2025 was $651.3 million, a decrease from $662.1 million in Q1 2024.
The company reported a significant GAAP net loss of $562.9 million, including a $488.8 million non-cash goodwill impairment charge.
Adjusted EBITDA saw an improvement, reaching $30.3 million in Q1 2025 compared to $27.1 million in the prior year's quarter.
GAAP diluted loss per share was $6.25, while adjusted diluted EPS was $0.02 for the quarter.
Fortrea
Fortrea
Forward Guidance
Fortrea reiterated its full-year 2025 guidance, expecting revenues between $2,450 million and $2,550 million and adjusted EBITDA between $170 million and $200 million.
Positive Outlook
- Reiterated full-year 2025 revenue guidance.
- Reiterated full-year 2025 adjusted EBITDA guidance.
- Guidance assumes stable foreign currency exchange rates.
- Focus on disciplined execution of strategy.
- Strengthening business model to improve efficiency.
Challenges Ahead
- Guidance is subject to various risks and uncertainties.
- Duration and results of the CEO search are uncertain.
- Ability to successfully implement business strategies is not guaranteed.
- Risks associated with international operations and currency fluctuations.
- Risk of delays, terminations, or reductions in net new business awards.