Fortrea Reports Third Quarter 2024 Results
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Fortrea, a global contract research organization, reported its Q3 2024 financial results. The company achieved revenues of $674.9 million but reported a GAAP net loss of $18.5 million. Adjusted EBITDA was $64.2 million, with a book-to-bill ratio of 1.23x.
November 08, 2024 | 11:45 am
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Fortrea reported Q3 2024 revenues of $674.9 million and a GAAP net loss of $18.5 million. The adjusted EBITDA was $64.2 million, and the book-to-bill ratio was 1.23x.
The financial results show a mixed performance with strong revenues but a GAAP net loss. The adjusted EBITDA and positive book-to-bill ratio indicate operational efficiency and potential future growth. However, the net loss may concern investors, leading to a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100