07:12 AM EDT, 03/11/2024 (MT Newswires) -- Fortrea Holdings ( FTRE ) reported Q4 adjusted earnings Monday of $0.19 per diluted share, down from $0.92 a year earlier.

Analysts polled by Capital IQ expected $0.23.

Revenue for the quarter ended Dec. 31 was $774.5 million, up from $761.7 million a year earlier.

Analysts surveyed by Capital IQ expected $779.1 million.

For 2024, the company said it expects revenue of $3.14 billion to about $3.21 billion. Analysts polled by Capital IQ expect $3.2 billion.

The company also said it has agreed to sell its Endpoint Clinical and Fortrea Patient Access businesses to Arsenal Capital Partners for $345 million, with $295 million payable upon closing and an additional $50 million contingent on specific transition-related milestones.

The deal is expected to close in Q2.

Shares of the company fell more than 9% in recent premarket Monday activity.

Price: 33.16, Change: -3.67, Percent Change: -9.96