Fortrea Holdings Inc
FTRE: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$45.20 | Fhlsghd | Xlnnsnvs |
Fortrea Earnings: Near-Term Issues Related to Spinoff Year; Shares Undervalued for Long-Term Investors
Narrow-moat Fortrea faced issues in its first quarter due to challenges associated with its 2023 spinoff. As a result, management revised its 2024 outlook by making an 11% reduction at the midpoint to its previously issued revenue forecast. Management also lowered its adjusted EBITDA guidance by 17% at the midpoint.