Fortrea Cuts FY24 Revenue Guidance From $2.785B -$2.855B To $2.70B - $2.75B, Est $2.80B
Portfolio Pulse from Benzinga Newsdesk
Fortrea has revised its FY24 revenue guidance downwards from $2.785B-$2.855B to $2.70B-$2.75B, below the estimated $2.80B. The company also adjusted its EBITDA guidance to $220M-$240M due to lower service-fee revenues.
August 12, 2024 | 11:08 am
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Fortrea has lowered its FY24 revenue guidance to $2.70B-$2.75B, below the estimated $2.80B. The company also revised its adjusted EBITDA guidance to $220M-$240M due to lower service-fee revenues.
The downward revision in revenue and EBITDA guidance indicates potential financial challenges for Fortrea, likely leading to a negative short-term impact on its stock price.
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