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Dec 31, 2024
Fortrea Q4 2024 Earnings Report
Fortrea reported a net loss in Q4 2024 with a decline in revenue compared to the previous year.
Key Takeaways
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.
Q4 2024 revenue was $697 million, down from $709.7 million in Q4 2023.
GAAP net loss of $73.9 million, compared to a net loss of $48.6 million in Q4 2023.
Adjusted EPS was $0.18, reflecting operational adjustments.
Book-to-bill ratio increased to 1.35x, signaling strong future demand.
Forward Guidance
Fortrea projects 2025 revenue in the range of $2.45 billion to $2.55 billion, with an adjusted EBITDA target between $170 million and $200 million.
Positive Outlook
- Book-to-bill ratio suggests continued strong demand.
- Adjusted EBITDA target signals controlled expenses.
- Company has largely exited its Transition Services Agreement.
- Operational restructuring expected to enhance efficiency.
- Continued improvements in customer satisfaction metrics.
Challenges Ahead
- Revenue guidance indicates a decline from 2024 levels.
- Ongoing restructuring efforts may cause short-term disruptions.
- High debt levels remain a concern.
- Net losses continue to persist.
- Foreign exchange rate fluctuations could impact results.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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