Fortrea Holdings Inc. · NASDAQ:FTRE
Fortrea — Q1 2024 Earnings Presentation
11 slides from Fortrea's earnings presentation, May 24, 2024
Slide 1: Q1 2024 Earnings Presentation
Learn more at fortrea.com. ©2024 Fortrea Inc. All rights reserved. Fortrea Q1’2024 Earnings presentation 05.24.2024 Q1 2024 Earnings Presentation 05.24.2024
Slide 2: Forward-Looking Statements & Non-GAAP Financial Measures
Learn more at fortrea.com. ©2024 Fortrea Inc. All rights reserved. Fortrea Q1’2024 Earnings presentation 05.24.2024 FORWARD-LOOKING STATEMENTS & NON-GAAP FINANCIAL MEASURES 2 Forward-Looking Statements Disclosure. Certain information in this presentation contains “forward-looking” statements. You sh
Slide 3: Fortrea's Q1'24 Highlights
Learn more at fortrea.com. ©2024 Fortrea Inc. All rights reserved. Fortrea Q1’2024 Earnings presentation 05.24.2024 Fortrea’s Q1’24 Highlights 3 Solid demand environment – number and value of RFPs increased Continued momentum implementing our growth and differentiation strategies Sustained focus on
Slide 4: Fortrea's Program for Change: Significant Opportunity to Create Shareholder Value
Learn more at fortrea.com. ©2024 Fortrea Inc. All rights reserved. Fortrea Q1’2024 Earnings presentation 05.24.2024 Fortrea’s Program for Change: Significant Opportunity to Create Shareholder Value 4 Leverage Competitive Advantages to Lay Foundation for Growth in ‘23 Disciplined Strategy to Drive Lo
Slide 5: Q1'24 Key Financial Highlights Continuing Operations
Learn more at fortrea.com. ©2024 Fortrea Inc. All rights reserved. Fortrea Q1’2024 Earnings presentation 05.24.2024 Q1’24– Key Financial Highlights Continuing Operations 5 Note: The financial information included herein includes immaterial adjustments to the Company’s previously reported financial i
Slide 6: Cash Flow and Liquidity Profile
Learn more at fortrea.com. ©2024 Fortrea Inc. All rights reserved. Fortrea Q1’2024 Earnings presentation 05.24.2024 Cash Flow and Liquidity Profile 6 Liquidity PositionFree Cash Flow and Conversion Rate Debt Leverage ($ in millions) March 31 2024 Debt 3 $1,646.0 Cash 4 $92.8 Net Debt 5 $1,553.2 Net
Slide 7: 2024 Financial Guidance and Outlook
Learn more at fortrea.com. ©2024 Fortrea Inc. All rights reserved. Fortrea Q1’2024 Earnings presentation 05.24.2024 2024 Financial Guidance and Outlook Continuing Operations 7 ($ in millions) Q1’24 Actuals FY’24 Guidance 1 (as of May 7th, 2024) Revenue $662.1 $2,785 - $2,855 Adj. EBITDA2 $27.1 $240.
Slide 8: First Quarter 2024 Net Debt Key Metrics
Learn more at fortrea.com. ©2024 Fortrea Inc. All rights reserved. Fortrea Q1’2024 Earnings presentation 05.24.2024 First Quarter 2024 Net Debt Key Metrics 8 ($ in millions) Amount Net Debt 1 $1,553.2 Estimated Initial Debt Payment with Closing of Asset Sale 2 $275.0 Trailing Twelve Months Adjusted
Slide 9: rights reserved. Fortrea Q1’2024 05.24.2024 • Assets in the Asset Purchase Agreement with Endeavor
Learn more at fortrea.com. ©2024 Fortrea Inc. All rights reserved. Fortrea Q1’2024 Earnings presentation 05.24.2024 • Assets in the Asset Purchase Agreement with Endeavor Buyer LLC to sell the operations of Fortrea Patient Access Inc. and its subsidiaries and Endpoint Clinical, Inc. and its subsidia
Slide 10: Net Income to Adjusted EBITDA Reconciliation (Non-GAAP)
Learn more at fortrea.com. ©2024 Fortrea Inc. All rights reserved. Fortrea Q1’2024 Earnings presentation 05.24.2024 Net Income to Adjusted EBITDA Reconciliation (Non-GAAP) 10 Note: The financial information included herein includes immaterial adjustments to the Company’s previously reported financia
Slide 11: Net Income to Adjusted Net Income Reconciliation (Non-GAAP)
Learn more at fortrea.com. ©2024 Fortrea Inc. All rights reserved. Fortrea Q1’2024 Earnings presentation 05.24.2024 Net Income to Adjusted Net Income Reconciliation (Non-GAAP) 11 Three Months Ended March 31, ($ in millions) 2024 2023 Adjusted net income (loss) from continuing operations: Net income