Fortrea is a global contract research organization that provides biopharmaceutical product and medical device development solutions. In June 2023, Fortrea was spun off into a standalone, publicly traded company by Labcorp Holdings Inc. ("Labcorp"). In connection with the spin-off, Fortrea entered into several transition services agreements (the "TSAs"), pursuant to which it agreed to pay Labcorp for certain transitional services over a set period. As alleged, Fortrea discussed the significant cost savings a ...

NEW YORK, June 09, 2025 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Fortrea Holdings Inc. (NASDAQ: FTRE). Shareholders who purchased shares of FTRE during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/fortrea-holdings-inc-loss-submission-form/?id=151931&from=3 CLASS PERIOD: Ju ...

Core Viewpoint - A lawsuit has been filed against Fortrea Holdings Inc. and its senior executives for potential violations of federal securities laws, stemming from allegations of overstating cost savings and revenue projections related to transition services agreements following its spin-off from Labcorp [1][2][4]. Group 1: Company Background - Fortrea Holdings Inc. is a global contract research organization that provides biopharmaceutical product and medical device development solutions [3]. - The company was spun off from Labcorp Holdings Inc. in June 2023, becoming a standalone publicly traded entity [3]. Group 2: Allegations and Financial Impact - The lawsuit claims that Fortrea exaggerated the cost savings and margin improvements expected from exiting transition services agreements with Labcorp [4]. - Following a report from Jefferies on September 25, 2024, which indicated that the anticipated cost savings were not as significant as previously thought, Fortrea's stock price fell by $2.73, or over 12%, from $22.21 to $19.48 per share [5]. - On March 3, 2025, Fortrea announced disappointing financial results for Q4 and full year 2024, revealing lower-than-expected revenue and profitability from pre-spin projects, leading to a further decline in stock price by $3.47, or over 25%, from $13.85 to $10.38 per share [6].

Core Viewpoint - A class action has been filed against Fortrea Holdings, Inc. for allegedly misleading investors regarding the progress of its pre-spin projects and financial expectations [1][2][4]. Group 1: Company Background - Fortrea Holdings, Inc. is a global contract research organization (CRO) that provides biopharmaceutical product and medical device development solutions [1]. - The company was spun off from Labcorp Holdings Inc. in June 2023 and operates under several transition services agreements with Labcorp [2]. Group 2: Financial Performance - On March 3, 2025, Fortrea announced that its revenue and adjusted EBITDA trajectories for 2025 were not in line with prior expectations, leading to a significant stock price drop of $3.47 per share, or 25.05%, closing at $10.38 [3]. - The company indicated that its pre-spin projects were late in their life cycle, resulting in lower revenue and profitability than expected for 2025 [3]. Group 3: Allegations and Misstatements - The complaint alleges that Fortrea overestimated the revenue contributions from pre-spin projects and overstated potential cost savings from exiting transition services agreements [4]. - It is claimed that the company's previously announced EBITDA targets for 2025 were inflated, which misrepresented the viability of its post-spin business model and financial prospects [4].

Core Viewpoint - A lawsuit has been filed against Fortrea Holdings Inc. and its senior executives for potential violations of federal securities laws, stemming from allegations of overstating cost savings and revenue projections related to transition services agreements following its spin-off from Labcorp [1][2][4]. Group 1: Company Background - Fortrea Holdings Inc. is a global contract research organization that provides biopharmaceutical product and medical device development solutions. It was spun off into a standalone, publicly traded company by Labcorp Holdings Inc. in June 2023 [3]. Group 2: Allegations and Lawsuit Details - The lawsuit claims that Fortrea overstated the cost savings and margin improvements expected from exiting transition services agreements with Labcorp, as well as the revenue from pre-spin projects [4]. - The case is pending in the U.S. District Court for the Southern District of New York, titled Deslande v. Fortrea Holdings Inc., et al., No. 1:25-cv-04630 [2]. Group 3: Stock Performance and Market Reaction - Following a report from Jefferies on September 25, 2024, which indicated that Fortrea's anticipated cost savings were not as significant as previously thought, the stock price fell by $2.73, or over 12%, from $22.21 to $19.48 per share [5]. - On March 3, 2025, Fortrea announced disappointing Q4 and full year 2024 financial results, leading to a further decline in stock price by $3.47, or over 25%, from $13.85 to $10.38 per share [6].

Summary of Charles River Laboratories International (CRL) Conference Call Company Overview - **Company**: Charles River Laboratories International (CRL) - **Event**: 2025 Conference on June 04, 2025 Key Points Financial Performance - Q1 revenue decline was reported at **-1.8%**, which was better than expected [6] - Operating income (OI) margin improved by **60 basis points** [6] - Earnings per share (EPS) grew by **3%** [6] - Cost structure reduced by approximately **5%**, leading to cost savings of **$175 million** in 2025 and forecasted **$225 million** for 2026 [12][13] - Guidance for EPS improved by **€0.20** to a range of **€9.3 to €9.8** and revenue growth adjusted to **-4.5% to -2.5%** [7] Strategic Initiatives - A strategic review is underway to enhance shareholder value, involving a comprehensive analysis of all business segments [19][21] - The company is exploring potential mergers and acquisitions (M&A) as part of the strategic review [21] - Management believes the stock price is currently undervalued, particularly following recent FDA announcements [24] Business Segments Performance - **Manufacturing Solutions**: Targeting **30% margins** by the end of the year, driven by Biologics Testing and Microbial Solutions [26][27] - **Pharma Segment**: Strong bookings attributed to timing post-budget approvals, but revenue is still declining [36][37] - **Biotech Segment**: Two quarters of growth observed, but cautious outlook due to funding concerns in 2025 [38][39] Cost Management - Significant cost-saving measures include site consolidation, staffing reductions, and process improvements [12][14] - Approximately **20 sites** are being consolidated, maintaining service levels while reducing overall footprint [13] Regulatory Environment - The FDA's focus on non-animal methods (NAMS) is seen as an evolution in drug development, with CRL already generating **$200 million** in revenue from NAMS [50][51] - The company has invested in the Alternative Methods Advancement Program (AMAP) to further develop non-animal testing methods [51] Academic and Government Spending - Academic and government clients contribute about **6%** of CRL's revenue, with NIH funding being a small part of that [56] - No significant impact from government budget changes has been observed yet, but potential effects may be seen in 2026 [57][58] Market Trends - The company is observing a trend in pharma licensing, particularly with Chinese assets, but prefers work originating from the U.S. for preclinical activities [41][42] - Price pressures are expected to remain stable, with no major improvements anticipated in the near term [47] Additional Insights - The company is optimistic about future bookings and client engagement, particularly in the pharma sector [39][40] - Management is focused on maintaining operational efficiency while navigating a challenging market environment [9][10] This summary encapsulates the key discussions and insights from the conference call, highlighting the company's financial performance, strategic initiatives, and market outlook.

Company Overview - Inotiv, Inc is a leading contract research organization (CRO) providing drug discovery and development services to the pharmaceutical and medical device industries[7] - The company's market capitalization was approximately $69 million as of April 30, 2025[6] - Inotiv was founded in 1974 and underwent a strategic reinvention in 2017[7] Financial Performance and Growth - Inotiv has a history of integrating acquisitions to enhance organic revenue growth[8] - The company plans for $17 million-$19 million in annual net savings compared to FY2022 through infrastructure right-sizing, strategic capital investments, and supply chain synergies[11] - Capital expenditures (CAPEX) are projected to average less than 40% of annual revenue in FY2025, compared to a 5-year historical average of approximately 8%[31] Business Segments and Services - Services account for 45% of total revenue, followed by Large Animals at 29%, Small Animals at 13%, and Teklad at 11% (trailing 12 months ended March 31, 2025)[13] - The company operates through two segments: Discovery and Safety Assessment (DSA) and Research Models and Services (RMS)[7] - North America accounts for 80% of customer geography, followed by EMEA at 15% and the Pacific Rim at 5%[23]

Company Overview - Inotiv, Inc is a leading contract research organization (CRO) providing drug discovery and development services to the pharmaceutical and medical device industries[7] - The company's market capitalization was approximately $69 million as of April 30, 2025[6] - Inotiv was founded in 1974 and underwent a strategic reinvention in 2017[7] Financial Performance and Growth - Inotiv has a history of integrating acquisitions to enhance organic revenue growth[8] - The company plans for $17 million-$19 million in annual net savings compared to FY2022 through infrastructure right-sizing, strategic capital investments, and supply chain synergies[11] - Capital expenditures (CAPEX) are projected to average less than 40% of annual revenue in FY2025, compared to a 5-year historical average of approximately 8%[31] Business Segments and Services - Services account for 45% of total revenue, followed by Large Animals at 29%, Small Animals at 13%, and Teklad at 11% (trailing 12 months ended March 31, 2025)[13] - The company operates through two segments: Discovery and Safety Assessment (DSA) and Research Models and Services (RMS)[7] - North America accounts for 80% of customer geography, followed by EMEA at 15% and the Pacific Rim at 5%[23]

Company Overview - Inotiv, Inc. is a leading contract research organization specializing in nonclinical and analytical drug discovery and development services, as well as research models and related products [3] - The company's focus is on enhancing efficiency, improving data quality, and reducing costs associated with bringing new drugs and medical devices to market [3] - Inotiv aims to support discovery and development objectives while contributing to a healthier and safer world [3] Upcoming Event - Robert Leasure Jr., President and CEO of Inotiv, will present at the Jefferies Global Healthcare Conference in New York on June 4 at 3:45 p.m. ET [1] - The live webcast of the presentation will be available in the "Investors" section of Inotiv's website and will be archived for approximately 90 days [2]

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]