NYSE$FTRE

Fortrea Holdings Inc · Q1 2025 earnings

Q1 2025 earnings · · Before market open · Investor relations

Briefing

Fortrea reported Q1 2025 revenue of $651.3M with a net loss of $562.9M.

Revenue was $651.3 million as clinical development services continued. Net loss was $562.9 million, reflecting significant one-time and operating items disclosed in the quarterly filing.

  • Q1 revenue $651.3M.
  • Net loss $562.9M.
  • CRO backlog and bookings support revenue visibility.
  • Integration and restructuring affect reported earnings.

Headline financials

Total Revenue

$651M

Previous: $662M-1.6%
EPS (adj)

$0.02

Previous: -$0.04+150.0%
Adjusted EBITDA

$30.3M

Previous: $27.1M+11.8%
Book-to-Bill Ratio

1.02

No prior period
Backlog

$7.72B

No prior period
Capital Expenditures

-$2.9M

Previous: -$9.3M+68.8%
Net Income

-$563M

Previous: -$81.6M-589.8%
Operating Income

-$520M

Previous: -$37.3M-1294.4%
Gross Profit

$97M

Previous: $86.1M+12.7%

Revenue & EPS history

Fortrea · Revenue · Quarterly

$651M

Q1 2025-1.6%vs Q1 2024
Beat estimate in 5 of 11 quarters(45%)
ActualEstimate

Forward guidance

Outlook emphasizes liquidity, cost control, and path to profitability.

Tailwinds

  • Revenue initiatives and operating leverage potential.
  • Balance-sheet flexibility from cash or credit.

Headwinds

  • Continued operating losses.
  • Macro or one-time items affecting comparability.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 15 quarterly earnings reports · overlaid with Q1 2025

Historical avgQ1 2025

+1.3%

Avg return

Earnings day

-0.8%

Avg return

5 days after

+0.5%

Avg return

30 days after

53%

8 / 15 earnings

Positive

+26.0%

Q3 2024

Best reaction

-25.1%

Q4 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+18.5%+25.9%+40.5%
Q4 2025+4.9%+1.4%-12.3%
Q3 2025+23.4%+15.3%+46.8%
Q1 2025-15.6%-27.8%-11.7%
Q4 2024-25.1%-22.9%-45.8%
Q3 2024+26.0%+17.9%+20.1%
Q2 2024-11.7%-11.4%-18.4%
Q1 2023-1.9%-3.9%-9.9%
Q1 2024-12.7%-16.6%-24.8%
Q4 2021+3.0%+4.9%+2.7%
Q4 2023+3.2%+6.7%+6.0%
Q3 2022+15.1%-6.6%-4.0%
Q3 2023+15.1%+13.0%+14.1%
Q2 2022-11.3%+6.7%+9.5%
Q2 2023-11.3%-14.9%-5.9%
Q1 2022

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