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Sep 30, 2024
Fortrea Q3 2024 Earnings Report
Fortrea's financial performance reflected solid execution in Q3 2024.
Key Takeaways
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.
Revenues for the third quarter were $674.9 million.
GAAP net loss was $(18.5) million, with a diluted loss per share of $(0.21).
Adjusted EBITDA was $64.2 million, reflecting a 16.3% sequential increase.
The book-to-bill ratio for the quarter was 1.23x.
Forward Guidance
Full-year 2024 revenue guidance has been updated to $2,700 million to $2,725 million. Full-year 2024 adjusted EBITDA guidance remains unchanged at a range of $220 million to $240 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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