Fortrea Holdings reports Q1 adjusted EPS (4c), consensus 1c

Reports Q1 revenue $662.1M, consensus $754.58M. “We are making solid progress toward our goal of being the best choice among clinical research organizations for customers large and small, creating a positive and distinctive experience for customers, investigator sites and employees,” said CEO Tom Pike. “The demand for our services is good. Our business operations are sound even as we continue to knock down challenges related to the unique circumstances of our 2023 spin out and before. The investments we are making in differentiation are resonating with customers, whether that’s expanding inroads in therapeutic areas of opportunity or creating next-generation solutions in collaboration with our data and technology partners. We have made strong progress with the planned exits of our Transition Services Agreements with our former parent company, and our planned divestment of our Endpoint and Patient Access businesses is making good progress. We are focused on creating momentum through the remainder of the year.”