Core Insights - Fortrea reported a solid start to 2025 with a focus on disciplined execution of its strategy and improving efficiency to better serve customers [2][4] Financial Performance - Revenue for Q1 2025 was $651.3 million, a decrease from $662.1 million in Q1 2024 [3] - GAAP net loss for Q1 2025 was $562.9 million, with a diluted loss per share of $6.25, which included a non-cash goodwill impairment charge of $488.8 million [4][9] - Adjusted EBITDA for Q1 2025 was $30.3 million, compared to $27.1 million in Q1 2024 [4][9] - The backlog as of March 31, 2025, was $7,721 million, with a book-to-bill ratio of 1.02x for the quarter [4][9] Guidance - The company reiterated its full-year 2025 guidance, targeting revenues between $2,450 million and $2,550 million and adjusted EBITDA between $170 million and $200 million [5] Leadership Changes - Fortrea announced that Peter M. Neupert will serve as Interim CEO and Board Chair as Tom Pike steps down from his role effective May 13, 2025 [6] Cash Flow and Balance Sheet - Net cash used for operating activities in Q1 2025 was $124.2 million, with free cash flow also reported at $(127.1) million [21][37] - Total assets as of March 31, 2025, were $3,121.1 million, down from $3,579.2 million at the end of 2024 [20]

Core Points - Thomas Pike is stepping down as CEO and Chairman of Fortrea, with Peter M. Neupert appointed as Interim CEO and Board Chair starting May 13, 2025 [1][2] - The transition is part of a succession planning process, with an executive search already in advanced stages [1] - Neupert expressed gratitude for Pike's leadership during a challenging period and noted the company's progress towards independence since its spin-off [2] Company Overview - Fortrea is a leading global contract research organization (CRO) that provides clinical development solutions to the life sciences industry [4] - The company partners with biopharmaceutical, biotechnology, medical device, and diagnostic companies to drive healthcare innovation [4] - Fortrea offers phase I-IV clinical trial management, clinical pharmacology, and consulting services, leveraging over 30 years of experience across more than 20 therapeutic areas [4]

Company Overview - Oculis Holding AG (OCS) is expected to report a year-over-year decline in earnings with a projected loss of $0.51 per share, reflecting a change of -15.9% compared to the previous year [3] - Revenues are anticipated to remain flat at $0.22 million, unchanged from the year-ago quarter [3] Earnings Expectations - The consensus EPS estimate has been revised 5.01% higher in the last 30 days, indicating a reassessment by analysts [4] - The Most Accurate Estimate for Oculis is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -7.32%, suggesting a bearish outlook on earnings prospects [10][11] Historical Performance - Oculis has not been able to beat consensus EPS estimates in any of the last four quarters, with the last reported quarter showing a surprise of -58.33% [12][13] Market Reaction - The stock may experience upward movement if the actual results exceed expectations, while a miss could lead to a decline [2] - The combination of a negative Earnings ESP and a Zacks Rank of 3 makes it challenging to predict an earnings beat for Oculis [11][16]

Company Overview - Fortrea Holdings Inc. (FTRE) is expected to report a year-over-year decline in earnings, with a projected loss of $0.08 per share, indicating a -100% change compared to the previous year [3] - Revenues for the upcoming quarter are anticipated to be $610.37 million, reflecting a decrease of 7.8% from the same quarter last year [3] Earnings Expectations - The consensus EPS estimate has been revised down by 28.64% over the last 30 days, indicating a reassessment by analysts [4] - The Most Accurate Estimate for Fortrea Holdings is higher than the Zacks Consensus Estimate, resulting in a positive Earnings ESP of +113.10% [10][11] Historical Performance - Fortrea Holdings has not been able to beat consensus EPS estimates in any of the last four quarters, with a notable surprise of -50% in the last reported quarter [12][13] Market Sentiment - The stock may experience upward movement if the actual results exceed expectations in the upcoming earnings report scheduled for May 12 [2] - Conversely, if the results fall short, the stock may decline [2] Industry Comparison - In the Zacks Medical - Biomedical and Genetics industry, Acadia Pharmaceuticals (ACAD) is expected to post earnings of $0.06 per share, representing a -40% year-over-year change, with revenues projected at $241.74 million, up 17.5% from the previous year [17] - Acadia's consensus EPS estimate has been revised down by 0.8% over the last 30 days, but it has a positive Earnings ESP of 17.37%, suggesting a likelihood of beating the consensus EPS estimate [18]

Recognized in both pre-and post-approval pharmacovigilance operationsDURHAM, N.C., May 01, 2025 (GLOBE NEWSWIRE) -- Fortrea (Nasdaq: FTRE), a leading global contract research organization (CRO), today announced it has been recognized as a “Leader” for pharmacovigilance (PV) operations by Everest Group in its annual Pharmacovigilance Operations PEAK Matrix® Assessment 2025. Fortrea’s top position was recognized in both pre-and post-approval PV operations in Everest Group’s proprietary framework, which assess ...

NEW YORK, April 21, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Fortrea Holdings Inc. ("Fortrea" or the "Company") (NASDAQ: FTRE). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980. The investigation concerns whether Fortrea and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action] On March 3, ...

Company Announcement - Fortrea will release its first quarter 2025 financial results on May 12, 2025, before the market opens [1] - A conference call will be held at 9:00 am ET on the same day to review the financial results and conduct a Q&A session [1] Participation Details - Participants can register for the earnings call online at the Fortrea Investor Relations website and are advised to join at least 10 minutes early to avoid delays [2] - A replay of the conference call will be available shortly after the event on the Fortrea Investor Relations website [2] Company Overview - Fortrea is a leading global provider of clinical development solutions to the life sciences industry, partnering with biopharmaceutical, biotechnology, medical device, and diagnostic companies [3] - The company offers phase I-IV clinical trial management, clinical pharmacology, and consulting services, leveraging over 30 years of experience across more than 20 therapeutic areas [3] - Fortrea operates in about 100 countries, providing focused and agile solutions to its customers globally [3]

NEW YORK, March 25, 2025 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Fortrea Holdings Inc. (NASDAQ:FTRE) and Ibotta, Inc. (NYSE:IBTA). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided. Fortrea Holdings Inc. (NASDAQ:FTRE) On March 3, 2025, For ...

NEW YORK, March 18, 2025 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Fortrea Holdings Inc. (“Fortrea” or the “Company”) (NASDAQ:FTRE) on behalf of Fortrea stockholders. Our investigation concerns whether Fortrea has violated the federal securities laws and/or engaged in other unlawful business practices. Click here to participate in the action. On March 3, 2025, Fortrea announced its fourth quarter and full y ...

Core Insights - Fortrea Holdings Inc. is under investigation for potential violations of federal securities laws and unlawful business practices [1] - The company reported disappointing financial results for Q4 and full year 2024, indicating that pre-spin projects are underperforming and negatively impacting future revenue and profitability [2] - Following the financial announcement, Fortrea's stock price experienced a significant decline of 25.05%, closing at $10.38 per share [2] Financial Performance - Fortrea disclosed that projects from before its spin-off from LabCorp are "late in their life cycle" and are expected to generate less revenue and profitability in 2025 [2] - The company indicated that the mix of older versus newer projects will continue to adversely affect its financial performance throughout 2025 [2] Legal Investigation - Bragar Eagel & Squire, P.C. is investigating potential claims on behalf of Fortrea stockholders who may have suffered losses [1][3] - The law firm is reaching out to long-term stockholders and those with information regarding the situation [3]