Fortrea Holdings Inc. (FTRE) Income Statement Analysis

See more : Keppel Corporation Limited (BN4.SI) Income Statement Analysis – Financial Results

Complete financial analysis of Fortrea Holdings Inc. (FTRE) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Fortrea Holdings Inc., a leading company in the Biotechnology industry within the Healthcare sector.

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Fortrea Holdings Inc. (FTRE)

Industry: Biotechnology

Sector: Healthcare

Website: https://www.fortrea.com

About Fortrea Holdings Inc.

Fortrea Holdings Inc., a contract research organization, primarily engages in the provision of biopharmaceutical product and medical device development services worldwide. It operates through two segments: Clinical Services and Enabling Services. The Clinical Services segment provides across the clinical pharmacology and clinical development spectrum. The Enabling Services segment provides patient access and clinical trial technology solutions to customers that streamline complex randomization and optimize the trial drug supply process. The company offers delivery models that include full service, functional service provider, and hybrid service structures. It also offers phase I-IV clinical trial management, differentiated technology enabled trial solutions, and post approval services. The company serves pharmaceutical, biotechnology, and medical device organizations. Fortrea Holdings Inc. was incorporated in 2023 and is based in Durham, North Carolina.

Metric	2023	2022	2021	2020
Revenue	3.11B	3.10B	3.06B	2.58B
Cost of Revenue	2.69B	2.47B	2.45B	2.09B
Gross Profit	424.00M	621.70M	604.40M	489.10M
Gross Profit Ratio	13.64%	20.08%	19.77%	18.96%
Research & Development	0.00	0.00	0.00	0.00
General & Administrative	0.00	0.00	0.00	0.00
Selling & Marketing	0.00	0.00	0.00	0.00
SG&A	336.60M	299.90M	303.10M	267.60M
Other Expenses	0.00	7.00M	1.90M	800.00K
Operating Expenses	457.30M	396.20M	469.40M	386.60M
Cost & Expenses	3.05B	2.87B	2.92B	2.48B
Interest Income	0.00	0.00	0.00	0.00
Interest Expense	69.80M	132.40M	200.00K	0.00
Depreciation & Amortization	96.40M	117.60M	198.80M	156.40M
EBITDA	166.90M	354.60M	335.20M	-175.80M
EBITDA Ratio	5.37%	10.62%	9.87%	25.46%
Operating Income	63.10M	185.20M	114.30M	-314.20M
Operating Income Ratio	2.03%	5.98%	3.74%	-12.18%
Total Other Income/Expenses	-62.00M	1.10M	22.10M	-434.70M
Income Before Tax	1.10M	58.90M	136.40M	-332.20M
Income Before Tax Ratio	0.04%	1.90%	4.46%	-12.87%
Income Tax Expense	4.50M	500.00K	38.40M	27.00M
Net Income	-3.40M	58.40M	98.00M	-359.20M
Net Income Ratio	-0.11%	1.89%	3.21%	-13.92%
EPS	-0.04	0.66	1.11	-4.06
EPS Diluted	-0.04	0.64	1.11	-4.06
Weighted Avg Shares Out	88.80M	88.40M	88.40M	88.40M
Weighted Avg Shares Out (Dil)	88.80M	91.10M	88.40M	88.40M

Fortrea Appoints Machelle Sanders to Board of Directors

May 16, 2024globenewswire.com

DURHAM, N.C., May 16, 2024 (GLOBE NEWSWIRE) -- Fortrea (Nasdaq: FTRE) (the “Company”), a leading global contract research organization (“CRO”), today announced the appointment of Machelle Sanders to the Company's Board of Directors. Ms. Sanders has served as North Carolina's...

Fortrea Holdings (FTRE) Q1 2024 Earnings Call Transcript

May 13, 2024seekingalpha.com

Fortrea Holdings Inc. (NASDAQ:FTRE ) Q1 2024 Earnings Conference Call May 13, 2024 8:00 AM ET Company Participants Tom Pike - Chairman, Chief Executive Officer Jill McConnell - Chief Financial Officer Hima Inguva - Head of Investor Relations, Corporate Development...

Fortrea Reports First Quarter 2024 Results

May 13, 2024globenewswire.com

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...

Fortrea Reschedules Release of First Quarter 2024 Financial Results and Conference Call

May 6, 2024globenewswire.com

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...

Fortrea Announces Date for First Quarter 2024 Financial Results and Conference Call

April 11, 2024globenewswire.com

DURHAM, N.C., April 11, 2024 (GLOBE NEWSWIRE) -- Fortrea (Nasdaq: FTRE) (the “Company”), a leading global contract research organization (CRO), today announced that it will release its first quarter 2024 financial results before the market opens on Tuesday, May 7,...

Fortrea Holdings Inc. (FTRE) Q4 2023 Earnings Call Transcript

March 11, 2024seekingalpha.com

Fortrea Holdings Inc. (NASDAQ:FTRE ) Q4 2023 Earnings Conference Call March 11, 2024 9:00 AM ET Company Participants Hima Inguva - Head of Investor Relations and Corporate Development Tom Pike - Chief Executive Officer Jill McConnell - Chief Financial Officer...