Reports Q3 revenue $674.9M, consensus $674.9M. Q3 Backlog increased to $7.571B, and the book-to-bill ratio for the quarter was 1.23x. “We had a solid quarter of execution” said Tom Pike, chairman and CEO of Fortrea (FTRE). “Our book-to-bill ratio for the quarter, as expected, is a nice mix of both large pharma and biotech awards. We have continued to make strong progress in the post-spin separation from our former parent. On the technology front for instance, we have migrated more than 90 percent of our IT applications and servers to the Fortrea environment.”
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FTRE: