Fortrea Holdings Inc reports results for the quarter ended September 30 - Earnings Summary

• Fortrea Holdings Inc reported quarterly adjusted earnings of 28 cents​​ per share for the quarter ended September 30, higher than the same quarter last year, when the company reported EPS of 12 cents. The mean expectation of twelve analysts for the quarter was for earnings of 22 cents per share. Wall Street expected results to range from 16 cents to 28 cents per share.

• Revenue fell 1.4% to $691.50 million from a year ago; analysts expected $669.95 million.

• Fortrea Holdings Inc's reported EPS for the quarter was 1 cent​.

• The company reported quarterly net income of $600 thousand.

• Fortrea Holdings Inc shares had risen by 29.7% this quarter and gained 50.0% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 0.9% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy," 4 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the biotechnology & medical research peer group is also "buy"

• Wall Street's median 12-month price target for Fortrea Holdings Inc is $23.00, about 12.5% below its last closing price of $25.88

This summary was machine generated from LSEG data October 29 at 03:02 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)