Fortrea Holdings Inc. (NASDAQ:FTRE) reported soft first-quarter FY24 results and cut its revenue outlook on Monday. Revenue of $662.1 million missed the consensus of $754.6 million. As of March-end, the backlog stood at $7.4 billion, and the book-to-bill ratio for the quarter was 1.11x. Adjusted EBITDA stood at $29.5 million, a decline from $41.7 million a year ago. Adjusted loss of 4 cents per share missed the street view for a profit of 1 cent per share, according to data from Benzinga Pro. "The ...