Fortrea Holdings/$FTRE

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About Fortrea Holdings

Fortrea is a global, late-stage contract research organization that provides comprehensive phase 1 through phase 4 clinical trial management, clinical pharmacology, and patient access solutions. The company works with emerging and large biopharma, medical device, and diagnostic companies to run their clinical trials as a functional-service provider, full-service provider, and offers hybrid trials. In 2023, Fortrea was formed as an independent, publicly traded company after Labcorp spun off its clinical development business, which it acquired via its purchase of Covance in 2015 for $6.1 billion. Fortrea has 19,000 staff members across 90 countries.

Ticker

$FTRE
Sector
Primary listing

Employees

14,500

Fortrea Holdings Metrics

BasicAdvanced
$876M
-
-$11.38
1.80
-

What the Analysts think about Fortrea Holdings

Analyst ratings (Buy, Hold, Sell) for Fortrea Holdings stock.

Bulls say / Bears say

Second-quarter 2025 revenue increased 7.2% year-over-year to $710.3 million, well ahead of analyst expectations at $629.4 million, showing strong sales momentum (Reuters).
Management raised full-year 2025 revenue forecast to $2.6 billion–$2.7 billion and reaffirmed adjusted EBITDA guidance of $170 million–$200 million, indicating ongoing confidence in growth prospects (Reuters).
Backlog rose 2.5% year-over-year to $7,547 million—equal to approximately 2.8 quarters of revenue—giving solid future revenue visibility (Investing.com).
GAAP net loss widened to $(374.9) million in Q2 2025 due to a $309.1 million non-cash goodwill impairment charge, highlighting persistent valuation write-down risk for the company (GlobeNewswire).
Adjusted EBITDA margin fell to 7.7% in Q2 2025 from 8.3% a year earlier, reflecting weaker operating leverage and putting pressure on profit margins (Investing.com).
Net debt totaled $1,110.8 million as of June 30, 2025, resulting in a 5.4× net leverage ratio, which raises questions about the company’s balance sheet strength and its financial flexibility (Investing.com).
Data summarised monthly by Lightyear AI. Last updated on 29 Aug 2025.

Fortrea Holdings Financial Performance

Revenues and expenses
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
$37B
-39.75%
Net income
$45B
107.52%
Profit margin
37.65%
6.78%

Fortrea Holdings Earnings Performance

Company profitability
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
$3.69
$2.85
$2.45
$2.42
-
Expected
$3.55
$2.61
$2.05
$2.31
$3.94
Surprise
3.94%
9.20%
19.51%
4.63%
-
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Real-time US market data is sourced from the IEX order book provided by Polygon. After-hours US market data is 15 minutes delayed and may differ significantly from the actual tradable price at market open.

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