Fortrea Holdings Stock Price, News & Analysis

Fortrea (Nasdaq: FTRE) has announced a strategic collaboration with Emery Pharma to provide rapid lot-by-lot MNP testing of rifampin for drug-drug interaction (DDI) studies. The partnership ensures rifampin impurities remain below FDA's Acceptable Intake Limit.

The collaboration enables sponsors to use rifampin, the preferred agent for DDI studies, by addressing previous concerns about nitrosamine impurity levels. This follows FDA's 2023 guidance updating acceptable MNP limits for rifampin, after their 2021 finding that all tested batches exceeded previous limits.

Through this partnership, Fortrea combines its clinical conduct capabilities with Emery Pharma's GLP and GMP testing expertise to enhance early-phase trial safety and efficiency.

Fortrea (FTRE) has announced the adoption of a limited-duration stockholder rights plan ("poison pill") effective immediately until June 10, 2026. The plan was implemented in response to significant stock price volatility and third-party interest in accumulating shares. Under the plan, stockholders will receive one right per common share as of June 23, 2025. These rights become exercisable if any entity acquires 10% or more of Fortrea's outstanding common stock. When triggered, rights holders can purchase company shares at a 50% discount, excluding the triggering entity. The plan aims to protect stockholder interests, ensure fair treatment in potential takeover situations, and give the Board sufficient time to evaluate any acquisition proposals. Barclays is serving as strategic advisor and Smith Anderson as legal advisor to Fortrea.

Fortrea (FTRE) has appointed Anshul Thakral as its new Chief Executive Officer, effective August 4, 2025. Thakral, who brings over 20 years of life sciences experience, will succeed Interim CEO Peter M. Neupert, who will continue as chairman of the board. The new CEO will focus on executing the company's transformation plan, driving profitable growth, and creating value for customers, employees, and shareholders. Thakral's appointment comes with a board director position, and his extensive background includes roles as an executive, commercial leader, advisor, and entrepreneur in the life sciences sector. The company aims to leverage his expertise in business development and customer engagement to modernize clinical trials and enhance drug development solutions.

Fortrea (FTRE), a global contract research organization (CRO), announced that Chairman and Interim CEO Peter M. Neupert and CFO Jill McConnell will present at the Jefferies Global Healthcare Conference on June 5, 2025, at 8:45 am ET. Investors can access the live webcast through Fortrea's Investor Relations website, with a replay available after the event. The presentation represents an opportunity for the company to share updates and insights with the investment community.

Fortrea (FTRE) reported its Q1 2025 financial results, showing revenues of $651.3 million, down from $662.1 million in Q1 2024. The company posted a significant GAAP net loss of $(562.9) million, largely due to a non-cash goodwill impairment charge of $488.8 million. Adjusted EBITDA improved to $30.3 million from $27.1 million year-over-year.

The company maintained a positive book-to-bill ratio of 1.02x for the quarter and 1.14x for trailing 12 months, with a backlog of $7,721 million. Fortrea reaffirmed its 2025 guidance, projecting revenues of $2,450-$2,550 million and adjusted EBITDA of $170-200 million. Additionally, the company announced a leadership change, with Lead Independent Director Peter M. Neupert replacing Thomas Pike as Interim CEO and Board Chair effective May 13, 2025.

Fortrea (FTRE) announced that CEO Thomas Pike is stepping down from his role as Chief Executive Officer and Chairman of the Board, effective May 13, 2025. Peter M. Neupert, the company's Lead Independent Director, will serve as Interim CEO and Board Chair. The company has already initiated an executive search process at an advanced stage, and Pike will remain as a consultant during the transition period.

Neupert brings significant healthcare and technology industry experience, having served as an Operating Partner at Health Evolution Partners and Corporate Vice President at Microsoft's Health Solutions Group. The leadership change comes as Fortrea approaches its two-year anniversary as an independent contract research organization (CRO).

The company will hold its earnings conference call on May 12, 2025, at 9 a.m. ET.

Fortrea (FTRE) has been named a Leader in Everest Group's Pharmacovigilance Operations PEAK Matrix Assessment 2025, recognized for excellence in both pre- and post-approval pharmacovigilance operations. The assessment evaluated 29 PV operations providers based on market impact, vision, and capability. Fortrea's global end-to-end safety solutions span from early clinical phases through post-approval, supported by dedicated professionals using industry-standard safety systems and proprietary automation. The company's comprehensive services include medical contact centers, case processing, medical review, aggregate reporting, safety surveillance, and QPPV support across 60+ therapeutic areas. Clients particularly praised Fortrea's scientific depth, scalability, and global reach, while Everest Group highlighted their multidisciplinary collaboration model, flexible delivery frameworks, and sustained technology investments.

Fortrea (FTRE), a leading global contract research organization (CRO), has scheduled its first quarter 2025 financial results announcement for Monday, May 12, 2025, before market opening. The company will host a conference call at 9:00 am ET the same day, featuring a financial results review and Q&A session.

Participants interested in joining the earnings call must register through the Fortrea Investor Relations website and are advised to connect 10 minutes before the call starts. A replay will be available in the events and presentations section of the company's IR website after the event.

Fortrea (FTRE) has released its Q4 and full-year 2024 financial results, reporting Q4 revenue of $697.0 million and full-year revenue of $2,696.4 million. The company posted a Q4 GAAP net loss of $(73.9) million and full-year net loss of $(271.5) million.

Key highlights include:

• Q4 book-to-bill ratio of 1.35x, with trailing twelve-month ratio at 1.16x
• Q4 adjusted EBITDA of $56.0 million; full-year adjusted EBITDA of $202.5 million
• Backlog of $7,699 million as of December 31, 2024
• Cash position of $118.5 million with gross debt of $1,142.0 million

For 2025, Fortrea projects revenue between $2,450-2,550 million and adjusted EBITDA of $170-200 million. The company has also secured a credit agreement amendment providing additional financial covenant flexibility through Q4 2026.