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Sep 30, 2023
Fortrea Q3 2023 Earnings Report
Fortrea's financial performance in Q3 2023 reflected revenue growth and strategic execution amidst ongoing transformation.
Key Takeaways
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.
Revenue reached $776.4 million.
GAAP net loss amounted to $13.1 million.
Adjusted EBITDA was $70.5 million.
Book-to-bill ratio stood at 1.24x.
Forward Guidance
The Company forecasts revenues in the range of $3,075 million to $3,130 million and reaffirms its adjusted EBITDA guidance in the range of $255 million to $285 million for the full year 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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