Fortrea Reports Second Quarter 2024 Results
FTREFortrea (FTRE) GlobeNewswire News Room·2024-08-12 19:00

For the three months ended June 30, 2024, from continuing operations: Revenues of 662.4millionGAAPnetlossof662.4 millionGAAP net loss of (99.3) millionAdjusted EBITDA of 55.2millionGAAPandadjusteddilutedlosspershareof55.2 millionGAAP and adjusted diluted loss per share of (1.11) and (0.03),respectivelyBooktobillratioof0.96x,resultingin1.16x booktobillforthetrailing12monthsCompleteddivestitureofassetsrelatingtotheEndpointClinicalandPatientAccessbusinessesDebtpaydownof(0.03), respectivelyBook-to-bill ratio of 0.96x, resulting in 1.16x book-to-bill for the trailing 12 monthsCompleted divestiture of assets relating to the Endpoint Clinical and Patient Access businessesDebt paydown of 504 million in the quarter using initial divestiture and securitization proc ...