Group 1 - The article highlights that while investors are focused on tech stocks in 2024, the healthcare sector is also experiencing significant innovation [1] - There is a suggestion that the healthcare industry may offer comparable investment opportunities as the tech sector, despite being overlooked [1] Group 2 - The author has a beneficial long position in the shares of FRTE, indicating a personal investment interest in the stock [1] - The article emphasizes the author's experience and success in the stock market, with an average stock return of over 31% from previous articles [2]

DURHAM, N.C., Nov. 26, 2024 (GLOBE NEWSWIRE) -- Fortrea (Nasdaq: FTRE), a leading global contract research organization (CRO), today announced that Chairman and Chief Executive Officer, Tom Pike and Chief Financial Officer, Jill McConnell will present at the Citi Global Healthcare Conference on Wednesday, December 4, 2024 at 1:45 pm ET. The live webcast will be available to investors and other interested parties by accessing the Fortrea Investor Relations website. A webcast replay will be available after th ...

Core Viewpoint - Fortrea, a leading global contract research organization, is set to present at the Evercore HealthCONx Conference on December 5, 2024, highlighting its role in clinical development solutions for the life sciences industry [1]. Company Overview - Fortrea (Nasdaq: FTRE) specializes in providing clinical development solutions to the life sciences sector, partnering with biopharmaceutical, biotechnology, medical device, and diagnostic companies to enhance healthcare innovation [3]. - The company offers a range of services including phase I-IV clinical trial management, clinical pharmacology, and consulting, leveraging over 30 years of experience across more than 20 therapeutic areas [3]. - Fortrea operates in approximately 100 countries, emphasizing a strong investigator site network and a commitment to scientific rigor and exceptional insights [3].

Financial Data and Key Metrics Changes - Revenue for Q3 2024 was $674.9 million, a decline of 5.4% year-on-year, primarily due to lower service fee and pass-through revenues [22][28] - Adjusted EBITDA for the quarter was $64.2 million, a decrease of 5.9% year-on-year, but increased 16.3% sequentially [28] - The book-to-bill ratio for the quarter was 1.23, with a trailing 12-month ratio of 1.15 [28] - Adjusted net income increased by 3% to $20.7 million compared to $20.1 million in the prior year [29] Business Line Data and Key Metrics Changes - The clinical pharmacology business saw strong bookings and a solid pipeline, with significant wins in various therapeutic areas including oncology and Alzheimer's [12][15] - The consulting and science segments are differentiating factors, contributing to the overall performance and bookings [14][17] Market Data and Key Metrics Changes - The backlog grew by 6.2% over the past 12 months, reaching approximately $7.6 billion [28] - Customer concentration remains high, with the top 10 customers accounting for 51% of revenues, and one customer representing 15.1% [29] Company Strategy and Development Direction - The company is focused on improving operational efficiency and margin expansion, with a commitment to infrastructure investments and organic growth [34][39] - Plans to exit the Transition Services Agreement (TSA) with the former parent company are on track, with over 90% of IT systems migrated [41][42] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the pipeline for Q4, with a mix of large pharma and biotech opportunities providing predictability [62] - The overall environment for large pharma is mixed, with some firms increasing R&D spending while others are restructuring [70][72] Other Important Information - The effective tax rate for continuing operations was a benefit of 48.3%, reflecting an updated split of domestic versus foreign earnings [27] - Cash flow from operating activities for the nine months ended September 30, 2024, was $245.7 million, compared to $150 million in the prior year [30] Q&A Session Summary Question: Can you discuss the nature of studies in clinical pharmacology and the overall Phase 1 market? - Management indicated that the clinical pharmacology business has a diverse range of studies beyond GLP-1s, with strong exposure to various therapeutic areas [54][55] Question: What changed in the bookings environment to achieve a book-to-bill of 1.23? - Management noted a favorable mix of large pharma and biotech opportunities, contributing to the improved book-to-bill ratio [62] Question: How is the company managing the decision-making processes in biotech? - The company has implemented a new forecasting process to better manage biotech decision-making and improve consistency in bookings [84][85] Question: Have there been any increases in project cancellations? - Management confirmed that there has not been an increase in cancellations, with any project changes being more about strategy adjustments rather than outright cancellations [89][90] Question: What is the significance of exiting the TSA? - Exiting the TSA is critical for improving operational efficiency and reducing costs, allowing the company to implement new processes and systems [96][98]

Fortrea Holdings Inc. (FTRE) came out with quarterly earnings of $0.23 per share, missing the Zacks Consensus Estimate of $0.27 per share. This compares to earnings of $0.24 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -14.81%. A quarter ago, it was expected that this company would post earnings of $0.07 per share when it actually produced a loss of $0.03, delivering a surprise of -142.86%.Over the last four quarters, the c ...

For the three months ended September 30, 2024, from continuing operations: Revenues of $674.9 millionGAAP net loss of $(18.5) millionAdjusted EBITDA of $64.2 millionGAAP and adjusted net income (loss) per diluted share of $(0.21) and $0.23, respectivelyBook-to-bill ratio of 1.23x, resulting in 1.15x book-to-bill for the trailing 12 months DURHAM, N.C., Nov. 08, 2024 (GLOBE NEWSWIRE) -- Fortrea (Nasdaq: FTRE) (the “Company”), a leading global contract research organization (“CRO”), today reported financial r ...

Fortrea Holdings Inc. (FTRE) is expected to deliver a year-over-year increase in earnings on lower revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released o ...

, Oct. 18, 2024 (GLOBE NEWSWIRE) -- (CRO) Fortrea (Nasdaq: FTRE) Fortrea (Fortrea for Better) Fortrea.com Fortrea (ESG) | --- | --- | --- | |---------|-------|-------| | | | | | Fortrea | | | | Fortrea | | | | Fortrea | | | | Fortrea | | | "Fortrea " ESG Sandy Kennedy Fortrea 100 300 "" (ERG) Fortrea 4,000 Fortrea (CSR) ESG Fortrea Tom Pike 2,500 CEO Action for Diversity & Inclusion™ () (DEI) Fortrea EcoVadis CDP—— Fortrea 2026 ""Tom Pike "" Fortrea Fortrea (Nasdaq: FTRE) Fortrea I IV Fortrea 20 100 / Fortr ...

Core Insights - Fortrea has released its inaugural Corporate Social Responsibility report titled "Fortrea for Better," highlighting its commitment to environmental, social, and governance (ESG) practices [1][4] Group 1: Environmental Practices - The report showcases Fortrea's achievements as an independent public company, including the refurbishment of an old mail-order warehouse in the UK into a 100-bed clinic, which received environmental certification for energy conservation, material usage, water consumption, and waste disposal [2] Group 2: Social Practices - Fortrea emphasizes the importance of Employee Resource Groups (ERGs), which are voluntary, employee-led groups aimed at supporting historically marginalized communities. Currently, there are eight ERGs with nearly 4,000 active members [3] Group 3: Governance Practices - The company has established a multi-year ESG roadmap, joined the United Nations Global Compact Initiative, and committed to the Science Based Targets Initiative. The CEO has pledged support for diversity, equity, and inclusion (DEI) as part of the CEO Action for Diversity & Inclusion™ [4] - Fortrea has made its first submission to EcoVadis for sustainability ratings and is developing its first environmental report for CDP, positioning itself to meet reporting regulations expected in 2026 [4] Group 4: Company Overview - Fortrea is a leading global provider of clinical development solutions, partnering with biopharmaceutical, biotechnology, medical device, and diagnostic companies to drive healthcare innovation. The company operates in about 100 countries and offers phase I-IV clinical trial management and consulting services [5]

NEW YORK, Sept. 27, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Fortrea Holdings Inc. ("Fortrea" or "the Company") (NASDAQ: FTRE). Investors who purchased Fortrea securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/FTRE. Investigation Details On September 25, 2024, Jefferies downgraded Fortrea, citing perceived weaknesses in the Comp ...