Fortrea Holdings Inc

FTRE: XNAS (USA)
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Fortrea Earnings: Spin-Related Challenges Persist; Lowering Fair Value to $15.50 From $27.20

Fortrea delivered weak fourth-quarter results, with sales and earnings falling significantly below expectations and shares declined 25%. Fortrea’s full-year net loss was $328.5 million, leading to a loss of $3.67 per share. We reduced our fair value estimate to $15.50 per share from $27.20 to account for greater headwinds as a newly stand-alone company since its spinoff from Labcorp in 2023.

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