Fortrea Holdings Inc. - FTRE STOCK NEWS

Fortrea (FTRE), a global contract research organization, has announced its participation in the upcoming Evercore HealthCONx Conference. Chairman and CEO Tom Pike and CFO Jill McConnell will deliver a presentation on Thursday, December 5, 2024, at 10:00 am ET. Interested parties can access the live webcast through Fortrea's Investor Relations website, with a replay available after the event.

Fortrea (FTRE) reported Q3 2024 financial results with revenues of $674.9 million, down from $713.8 million in Q3 2023. The company posted a GAAP net loss of $(18.5) million and adjusted EBITDA of $64.2 million. Notable metrics include a book-to-bill ratio of 1.23x and backlog of $7,571 million. The company has updated its full-year 2024 revenue guidance to $2,700-2,725 million, while maintaining adjusted EBITDA guidance at $220-240 million. Cash position stood at $105.3 million with gross debt of $1,142.0 million as of September 30, 2024.

Fortrea (Nasdaq: FTRE), a leading global contract research organization (CRO), has released its inaugural Corporate Social Responsibility report, 'Fortrea for Better'. The report outlines the company's environmental, social, and governance (ESG) activities across four key areas: responsible environmental practices, people practices, societal practices, and governance practices.

Key highlights include:

• Refurbishment of a UK warehouse into a 100-bed clinic with environmental certification
• Establishment of eight Employee Resource Groups with nearly 4,000 active members
• Joining the UN Global Compact Initiative and commitment to the Science Based Targets Initiative
• CEO Tom Pike's pledge to support DEI through CEO Action for Diversity & Inclusion™
• Inaugural submission to EcoVadis and development of first environmental report for CDP

Fortrea aims to meet expected reporting regulations by 2026 and demonstrates its commitment to sustainability and ethical practices as a newly independent public company.

Fortrea (Nasdaq: FTRE), a leading global contract research organization (CRO), has announced the date for its third quarter 2024 financial results release and conference call. The company will release its financial results before the market opens on Friday, November 8, 2024. A conference call will be hosted at 8:00 am ET on the same day to review the results and conduct a question-and-answer session.

Participants can register for the earnings call on the Fortrea Investor Relations website. To avoid delays, it is recommended to join at least 10 minutes before the call starts. The call can also be accessed through an earnings webcast link. A replay of the live conference call will be available shortly after the event concludes and can be accessed on the events and presentations section of the Fortrea Investor Relations website.

Fortrea (Nasdaq: FTRE) reported its Q2 2024 financial results, showing a revenue of $662.4 million and a GAAP net loss of $(99.3) million. The company's adjusted EBITDA was $55.2 million, with a book-to-bill ratio of 0.96x. Fortrea completed divestitures of Endpoint Clinical and Patient Access businesses, reducing debt by $504 million. The company revised its full-year guidance, projecting revenue between $2,700 million to $2,750 million and adjusted EBITDA of $220 million to $240 million. CEO Tom Pike expressed confidence in the company's direction despite challenges, citing progress with customers and important new opportunities.

Fortrea (Nasdaq: FTRE), a leading global contract research organization (CRO), has announced the date for its second quarter 2024 financial results release and conference call. The company will release its financial results before the market opens on Monday, August 12, 2024. A conference call is scheduled for 9:00 am ET on the same day to review the results and conduct a Q&A session.

Participants can register for the earnings call on the Fortrea Investor Relations website and are advised to join at least 10 minutes before the call starts. The call can also be accessed through an earnings webcast link. A replay of the live conference call will be available shortly after the event concludes and can be accessed on the events and presentations section of the Fortrea Investor Relations website.

Fortrea (Nasdaq: FTRE) has appointed Robert “Bobby” Parks as its new Chief Accounting Officer (CAO). Parks will be responsible for overseeing Fortrea’s accounting functions, including financial reporting, risk management, and compliance with standards and regulations. He brings three decades of experience, having previously held senior roles at Quintiles (now IQVIA), Syneos, and SailPoint Technologies Holdings. A certified public accountant, Parks will start in August, succeeding Amanda Warren, who will remain as an advisor until November.

Fortrea (Nasdaq: FTRE) has announced the launch of its AI Innovation Studio, aimed at revolutionizing clinical trial execution with advanced AI and ML technologies. The studio will enhance speed, quality, and patient safety by automating repetitive tasks and empowering human-centric trial processes. Key innovations include smartphone-enabled data collection, large language models, and advanced predictive analytics. These initiatives are expected to improve patient recruitment, protocol optimization, and overall trial efficiency, contributing to Fortrea's vision for the future of the CRO industry.

Fortrea (Nasdaq: FTRE), a leading global contract research organization (CRO), announced that its Chief Financial Officer, Jill McConnell, will participate in a virtual fireside chat hosted by Elizabeth Anderson, senior managing director at Evercore ISI. The event is scheduled for Thursday, June 20, 2024, at 2:00 pm ET, and will last for 30 minutes. Registration is required for the live event, and a replay will be available on the Fortrea Investor Relations website after the event.