Fortrea Holdings Inc (FRA:K67)

Q3 2025 Fortrea Holdings Inc Earnings Call Transcript

Nov 5, 2025 / 01:00 PM GMT

Release Date Price: €8.65 (+2.98%)

Transcript 10-Q8-K

Key Points

Positve

Fortrea Holdings Inc (FTRE) reported solid Q3 2025 results with revenue of $701.3 million and an adjusted EBITDA of $50.7 million, aligning with expectations.
The company's book-to-bill ratio improved to 1.13 times, indicating strong demand and positioning for continued backlog growth.
Fortrea Holdings Inc (FTRE) saw significant improvement in win rates, particularly with biotech clients, where win rates doubled compared to the previous quarter.
The company has a robust pipeline balanced across biopharma and biotech clients, with growth in clinical trial starts and increased biotech funding in Q3.
Fortrea Holdings Inc (FTRE) is making strides in technology and AI adoption, enhancing productivity and efficiency, with initiatives like the Accelerate Risk Radar and ICRA mobile app showing tangible benefits.

Negative

There was a slight increase in cancellation rates, although they remain within historical ranges.
Adjusted EBITDA decreased compared to the prior year period, primarily due to lower margins related to project mix and increased pass-through costs.
The company reported a net loss of $15.9 million for Q3 2025, compared to a net loss of $18.5 million in the prior year period.
Fortrea Holdings Inc (FTRE) experienced a negative operating cash flow of $15.6 million for the nine months ended September 30, 2025, compared to positive cash flow in the prior year period.
The pricing environment remains competitive, particularly in the FSP business, where aggressive pricing strategies from larger CRO competitors are noted.

Refinitiv StreetEvents Event Transcript
P R E L I M I N A R Y V E R S I O N

FTRE.OQ - Fortrea Holdings Inc
Q3 2025 Fortrea Holdings Inc Earnings Call
Nov 05, 2025 / 01:00PM GMT

=====================
Conference Call Participants
=====================
* >>NOTE
* >>Transcription Start

=====================
Presentation
--------------------------------------------------------------------------------
>>NOTE [1]
--------------------------------------------------------------------------------

THIS TRANSCRIPT IS THE INITIAL PRELIMINARY VERSION WHICH LEVERAGES MACHINE LEARNING TECHNOLOGY. AS SUCH, PLEASE BE AWARE THERE MAY BE INACCURACIES IN THE TEXT DISPLAYED. FUTURE EDITED VERSIONS WILL BE REVIEWED FOR GREATER ACCURACY.

--------------------------------------------------------------------------------
>>Transcription Start, [2]
--------------------------------------------------------------------------------

Good day and thank you for standing by. Welcome to the Fort Tria Q3 2025 earnings conference call. At this time, all

Already have an account? Log in

Get the full story

Subscribe Now

	Access to All Earning Calls and Stock Analysis
	30-Year Financial on one screen
	All-in-one Stock Screener with unlimited filters
	Customizable Stock Dashboard
	Real Time Insider Trading Transactions
	8,000+ Institutional investors’ 13F holdings
	Powerful Excel Add-in and Google sheets Add-on
	All data downloadable
	Quick customer support
	And much more...

30-Day 100% money back guarantee

Subscription fee may be tax deductible.

Excellent

4.6 out of 5

Trustpilot

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Calculators Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App Newsletters Signup 中文

Education

Financial Glossary Tutorials FAQ Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.