DURHAM, N.C., June 19, 2024 (GLOBE NEWSWIRE) -- Fortrea (NASDAQ:FTRE), a leading global contract research organization (CRO), today announced that Chief Financial Officer Jill McConnell will participate in a virtual fireside chat hosted by Elizabeth Anderson, senior managing director at Evercore ISI, to discuss Fortrea's business on Thursday, June 20, 2024 at 2:00 pm ET. Webcast and Replay Information Registration for the live event is required here. The event is scheduled for 30 minutes. A replay will be a ...

DURHAM, N.C., June 19, 2024 (GLOBE NEWSWIRE) -- Fortrea (NASDAQ:FTRE), a leading global contract research organization (CRO), today announced that Chief Financial Officer Jill McConnell will participate in a virtual fireside chat hosted by Elizabeth Anderson, senior managing director at Evercore ISI, to discuss Fortrea's business on Thursday, June 20, 2024 at 2:00 pm ET. Webcast and Replay Information Registration for the live event is required here. The event is scheduled for 30 minutes. A replay will be a ...

DURHAM, N.C., June 03, 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 Jefferies Global Healthcare Conference on Wednesday, June 5, 2024 at 11:00 am 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 t ...

财务状况 - Fortrea Holdings Inc. 2024年第一季度营收为662.1亿美元，较去年同期减少4.6%[89] - 直接成本在2024年第一季度增长至83.7%的营收比例，较去年同期的78.0%有所上升[89] - 销售、一般和管理费用在2024年第一季度增长至1.201亿美元，较去年同期的1.168亿美元增长了2.8%[89] - 折旧费用在2024年第一季度增长至6600万美元，较去年同期的5900万美元增长了11.9%[89] - 汇兑损益在2024年第一季度为-5.3亿美元，较去年同期的-5.2亿美元略有增加[89] - 2024年第一季度，公司的现金流量情况为：经营活动使用现金25.6亿美元，投资活动使用现金9.2亿美元，融资活动提供现金21.3亿美元[93] - 2024年第一季度，公司的现金及现金等价物总额为92.8亿美元，较2023年的118.2亿美元有所下降[94] 风险管理 - 公司面临的市场风险主要包括外汇汇率变动和利率变动，通过风险管理计划管理外汇风险，包括外汇远期合同等[96] - 公司的营收中约16.8%和19.5%分别来自于非美元货币计价，主要受欧元和英镑汇率波动影响[97] - 公司在利率风险方面主要受到可变利率债务的影响，目前已有约1076亿美元的可变利率债务，若利率上升1.00%，将导致利息支出增加10.8亿美元[100] 内部控制 - 公司的管理层已确认了财务报告控制的重要性，并加强了内部控制意识和环境[108] - 公司正在积极开展全面的补救计划，包括招聘、培训人员，与会计公司合作支持补救工作[107] - 公司承诺继续维护强有力的控制环境，并将继续审查、优化和加强财务报告控制和程序[109] 其他 - 2024年3月31日，公司16.8%和2013年同期19.5%的营收以美元以外的货币计价，主要是欧元和英镑[97] - 2024年3月31日，公司的累积货币翻译调整为负27.7亿美元，2013年同期为19.1亿美元[98] - 公司在2024年3月31日的可变利率债务为1,640亿美元，其中大部分债务利率为可变利率[100]

财务数据和关键指标变化 - 第一季度收入为6.621亿美元,同比下降4.6%,主要由于服务费收入下降,抵消了更高的转发收入 [34][35] - 毛利率和调整后EBITDA率分别为4.5%和29.3%,同比下降 [41] - 调整后净亏损3.5百万美元,上年同期净利润29.1百万美元 [42] - 经营活动现金流为负2,560万美元,自由现金流为负3,490万美元 [44][45] - 应收账款周转天数为97天,较上年末下降4天 [46] 各条业务线数据和关键指标变化 - 临床服务收入占总收入的大部分,同比下降4.6%,主要由于服务费收入下降 [34][35] - 临床药理学业务表现强劲,获得了该领域最大的研究项目 [17] - 肿瘤和神经科学领域获得了大型研究项目,体现了公司在这些领域的优势 [15][16] 各个市场数据和关键指标变化 - 生物技术公司占公司客户的50%,该领域的融资和需求保持良好 [13][123][125] - 大型制药公司的需求也保持稳定,公司正在与一些大客户进行战略合作洽谈 [149][150] 公司战略和发展方向及行业竞争 - 公司正在转型成为一家更有特色、更敏捷创新的CRO,以满足客户的药物开发需求 [12][13][19] - 公司正在加强与第三方技术和数据公司的合作,提升自身的差异化优势 [18][77][78] - 公司正在优化成本结构,提升运营效率和利润率,以与同行企业保持竞争力 [19][52][53][54][55] 管理层对经营环境和未来前景的评论 - 整体药物开发环境保持良好,生物技术公司融资情况乐观,有利于CRO行业发展 [13] - 公司的服务需求保持良好,客户反馈积极,管理层对公司的发展前景充满信心 [12][13][64][66] - 2025年公司有望实现收入和利润率的大幅改善,摆脱过去的复杂局面 [53][54][55][57][58] 问答环节重要的提问和回答 问题1 **David Windley提问** 询问公司的中标率和销售渠道差异化 [69][70][71][72] **Tom Pike回答** 公司的中标率保持强劲,但个别大单的推迟和取消影响了本季度的业绩目标 [70][71][72] 公司正在通过改善与客户的互动、提升技术和数据能力等方式来提升差异化 [72][73][74][75][76] 问题2 **Jill McConnell回答** 公司毛利率改善主要来自收入增长带来的规模效应,SG&A成本优化在2025年前只能发挥有限作用 [143][144][145][146] 公司预计2024年全年现金流略有负值,但到年底应该能转正,可能会利用应收账款融资工具来支持 [155][156][157] 问题3 **Rishi Parekh提问** 询问公司最近与大客户洽谈的情况,以及资本结构调整的原因 [149][150][152][153][154] **Jill McConnell回答** 公司正在与大客户探讨全服务和FSP相结合的合作模式 [149][150] 资本结构调整主要是为了应对剥离业务后财务指标的变化,并非由于本季度业绩 [152][153][154]

Q1 2024 Earnings Presentation 05.13.2024 Learn more at fortrea.com. ©2024 Fortrea Inc. All rights reserved. Fortrea Q1’2024 Earnings presentation 05.13.2024 FORWARD-LOOKING STATEMENTS & NON-GAAP FINANCIAL MEASURES ...

Exhibit 99.1 Fortrea Reports First Quarter 2024 Results For the three months ended March 31, 2024, from continuing operations: • Revenues of $662.1 million • GAAP net loss of $81.6 million • Adjusted EBITDA of $29.5 million • GAAP and adjusted diluted loss per share of $(0.91) and $(0.04), respectively • Book-to-bill ratio of 1.11x, resulting in >1.2x book-to-bill for the trailing nine months • Planned divestiture of assets relating to the Endpoint Clinical and Patient Access businesses on track DURHAM, N.C ...

For the three months ended March 31, 2024, from continuing operations: Revenues of $662.1 million GAAP net loss of $81.6 million Adjusted EBITDA of $29.5 million GAAP and adjusted diluted earnings (loss) per share of $(0.91) and $(0.04), respectively Book-to-bill ratio of 1.11x, resulting in >1.2x book-to-bill for the trailing nine months Planned divestiture of assets relating to the Endpoint Clinical and Patient Access businesses on track DURHAM, N.C., May 13, 2024 (GLOBE NEWSWIRE) -- Fortrea (NASDAQ:FTRE) ...

DURHAM, N.C., May 06, 2024 (GLOBE NEWSWIRE) -- Fortrea (Nasdaq: FTRE) (the “Company”), a leading global contract research organization (CRO), today announced an updated issuance date for the company’s first quarter 2024 financial results. The Company requires additional time to work through accounting and discontinued operations matters primarily as a result of entering into a definitive agreement in March 2024 to divest assets relating to the Company’s Enabling Services segment. Fortrea will now release it ...

DURHAM, N.C., May 06, 2024 (GLOBE NEWSWIRE) -- Fortrea (Nasdaq: FTRE) (the “Company”), a leading global contract research organization (CRO), today announced an updated issuance date for the company’s first quarter 2024 financial results. The Company requires additional time to work through accounting and discontinued operations matters primarily as a result of entering into a definitive agreement in March 2024 to divest assets relating to the Company’s Enabling Services segment. Fortrea will now release it ...