Shares of Fortrea Holdings Inc. (FTRE), a contract research organization, are falling more than 10% Monday morning after reporting lower earnings in the second quarter.
Net income was $28.3 million or $0.32 per share for the second quarter, lower than $66.4 million or $0.75 per share in the same quarter a year ago, impacted by higher expenses.
Revenue for the quarter was $793.0 million, flat with last year’s.
FTRE, currently at $27.33, has traded in the range of $25.68 – $37.30 in the last 52 weeks.
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