12:01 PM EDT, 05/13/2024 (MT Newswires) -- (Updates to add stock move in the headline and the first paragraph.)

Fortrea Holdings ( FTRE ) shares fell 15% in recent trading after the company reported Q1 adjusted loss Monday of $0.04 per diluted share, swinging from earnings of $0.33 a year earlier.

Analysts polled by Capital IQ expected $0.

Revenue for the quarter ended March 31 was $662.1 million, compared with $693.9 million a year earlier.

Analysts surveyed by Capital IQ expected $754.6 million.

The company cut its full-year 2024 revenue guidance to a range of $2.79 billion to $2.86 billion, from its previous outlook of $3.14 billion to $3.21 billion. Analysts surveyed by Capital IQ expect $3.08 billion.

Price: 28.10, Change: -4.93, Percent Change: -14.93