By Dean Seal
Fortrea is guiding for revenue to drop this year after sales slipped and its loss widened in the fourth quarter, pressuring shares ahead of the opening bell.
The contract-research organization expects $2.45 billion to $2.55 billion in revenue for 2025, down from $2.7 billion last year. Analysts polled by FactSet had been forecasting a small gain to $2.73 billion.
For the last three months of 2024, Fortrea posted a loss of $61.2 million, or 68 cents a share, compared with a loss of $54.5 million, or 62 cents a share, in the same quarter a year earlier.
Stripping out one-time items, adjusted earnings were 18 cents a share. Analysts polled by FactSet had been looking for 36 cents a share.
Revenue ticked down 1.8% to $697 million, below projections for $703.3 million, according to FactSet.
Shares fell 11% to $12.30 in premarket trading.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
March 03, 2025 07:11 ET (12:11 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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