Welcome to our dedicated page for Fortrea Holdings news (Ticker: FTRE), a resource for investors and traders seeking the latest updates and insights on Fortrea Holdings stock.
Overview
Fortrea Holdings (FTRE) is a global contract research organization (CRO) that delivers comprehensive clinical development solutions across Phase I through IV clinical trials. As a pure-play CRO, Fortrea is dedicated to managing clinical trial processes, clinical pharmacology, and consulting services with a strong emphasis on scientific rigor and technological innovation. From its inception as an independent company spun off from Labcorp's clinical development business, Fortrea has distinguished itself through its extensive experience, deep industry insights, and a worldwide network spanning over 90 countries.
Core Business and Services
Fortrea’s core business revolves around offering robust clinical trial management solutions. The company provides:
- Comprehensive Trial Management: From early-phase safety studies to expansive post-approval studies, Fortrea supports every step of the clinical research continuum.
- Clinical Pharmacology and Consulting: Leveraging decades of cumulative experience, Fortrea delivers expert advice and technical services that ensure studies meet regulatory requirements and scientific standards.
- Patient Access Solutions: Focused on optimizing patient recruitment and retention, the company designs and implements effective strategies that ensure diverse patient participation in clinical trials.
These services are executed with an unwavering commitment to quality and compliance, ensuring that clinical research adheres to rigorous safety and regulatory guidelines.
Global Reach and Industry Expertise
Fortrea's operations are underpinned by a strong global presence, with teams operating in numerous countries and a broad network of investigator sites. This expansive network not only supports clinical trials across multiple therapeutic areas but also enables the company to maintain close relationships with a diverse range of biopharmaceutical, biotechnology, and medical device clients. The company’s operations are characterized by:
- Decades of Industry Experience: With over 30 years of cumulative expertise, Fortrea’s understanding of more than 20 therapeutic areas speaks to its domain mastery.
- Rigorous Scientific and Operational Excellence: The organization has institutionalized processes that stress scientific rigor, transparency, and agile operational practices.
- Robust Regulatory Compliance: As clinical trials must meet stringent regulatory demands, Fortrea emphasizes quality controls and risk-based monitoring to ensure adherence to global standards.
Innovation and Technological Integration
Fortrea is strategically advancing its service offerings through the adoption of innovative technologies. Recognizing that speed, precision, and patient safety are critical in clinical development, the company has invested in integrating artificial intelligence and machine learning solutions that enhance operational efficiency. Specific technology initiatives include:
- AI-Enabled Systems: These systems support trial simulations, predictive analytics, and pattern recognition, optimizing trial design and execution.
- Digital Transformation: Modernizing IT systems to provide a consumer-grade, omni-channel experience enhances data accuracy and speeds up decision-making processes for clinical trials.
- Operational Automation: Utilizing advanced analytics and automated data collection methods, Fortrea aims to minimize administrative burdens, allowing clinical teams to focus on the critical human elements of trial oversight and patient care.
Positioning Within the Competitive Landscape
Within the competitive environment of the CRO industry, Fortrea distinguishes itself not through speculative forward-looking promises but through its demonstrable expertise and deep operational competence. By concentrating on core clinical development areas and divesting non-core segments, the company has streamlined its focus towards delivering superior clinical trial management services. This strategic refinement allows Fortrea to better serve both emerging and established biopharmaceutical companies by driving efficiency and improved outcomes in clinical research.
Commitment to Excellence
Fortrea’s commitment to operational excellence is evident in its methodical approach to clinical trial management, underscored by its integration of cutting-edge technology and a robust global network. Its strategic practices are designed to support a transparent, methodical, and scientifically backed clinical trial process that adds significant value to its stakeholders—from trial sponsors to the patients who benefit from advanced therapies.
Fortrea (FTRE), a leading global contract research organization (CRO), has scheduled its first quarter 2025 financial results announcement for Monday, May 12, 2025, before market opening. The company will host a conference call at 9:00 am ET the same day, featuring a financial results review and Q&A session.
Participants interested in joining the earnings call must register through the Fortrea Investor Relations website and are advised to connect 10 minutes before the call starts. A replay will be available in the events and presentations section of the company's IR website after the event.
Fortrea (FTRE) has released its Q4 and full-year 2024 financial results, reporting Q4 revenue of $697.0 million and full-year revenue of $2,696.4 million. The company posted a Q4 GAAP net loss of $(73.9) million and full-year net loss of $(271.5) million.
Key highlights include:
- Q4 book-to-bill ratio of 1.35x, with trailing twelve-month ratio at 1.16x
- Q4 adjusted EBITDA of $56.0 million; full-year adjusted EBITDA of $202.5 million
- Backlog of $7,699 million as of December 31, 2024
- Cash position of $118.5 million with gross debt of $1,142.0 million
For 2025, Fortrea projects revenue between $2,450-2,550 million and adjusted EBITDA of $170-200 million. The company has also secured a credit agreement amendment providing additional financial covenant flexibility through Q4 2026.
Fortrea (FTRE), a leading global contract research organization, has announced the appointment of Erin L. Russell to its Board of Directors through a cooperation agreement with Starboard Value LP, which owns 5.4% of Fortrea's outstanding common stock. Russell, a financial and healthcare executive, brings extensive experience from her roles including board positions at Modivcare (MODV), eHealth (EHTH), and Kadant (KAI), as well as 16 years as a principal at Vestar Capital Partners.
The agreement includes standard provisions such as a standstill and voting agreement with Starboard, which also retains the right to appoint a representative to the Board starting August 2025. Russell's appointment will be effective immediately prior to the next regularly scheduled Board meeting.
Fortrea (Nasdaq: FTRE) has announced its sponsorship of the SCRS Collaborate Forward working group, joining 16 leading Global Impact Partner organizations. The initiative aims to reduce administrative burdens in clinical research and improve trial efficiency through enhanced collaboration.
The working group will focus initially on study startup, developing best practices and solutions that can be implemented across the clinical research ecosystem. The group's efforts will concentrate on improving internal processes to enhance site sustainability and trial efficiency, ultimately benefiting patient experience.
Progress updates will be shared throughout 2025 via SCRS Site Solutions Summits and publications. The partnership represents a significant step toward fostering industry-wide innovation and emphasizes Fortrea's commitment to placing research sites at the center of clinical trial planning.
Fortrea (Nasdaq: FTRE), a leading global contract research organization (CRO), has announced it will release its fourth quarter and full year 2024 financial results before market opens on Monday, March 3, 2025. The company will host a conference call at 9:00 am ET on the same day, featuring a financial results review and a question-and-answer session.
Participants interested in joining the earnings call should register through the Fortrea Investor Relations website and are advised to join at least 10 minutes before the call starts. A replay of the conference call will be made available on the events and presentations section of the company's Investor Relations website after the event.
Fortrea (Nasdaq: FTRE), a leading global contract research organization (CRO), has announced its participation in the Citi Global Healthcare Conference. Chairman and CEO Tom Pike, along with CFO Jill McConnell, will deliver a presentation on Wednesday, December 4, 2024, at 1:45 pm ET.
The presentation will be accessible via live webcast on the Fortrea Investor Relations website, with a replay option available after the event.
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.
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