Jacob Putman's questions to Fortrea Holdings Inc (FTRE) leadership • Q2 2025
Question
Jacob Putman, on behalf of Luke Surgatt at Barclays, asked if the 2026 framework for backlog and sales mix remains intact following the quarter's bookings, and what actions are being taken to build confidence with 'new to Fortrea' customers.
Answer
CFO Jill McConnell affirmed that the framework holds, noting that post-spin awards now constitute about 30% of full-service clinical development revenue and are on track to exceed 50% in the second half of 2026. CEO Anshul Thakral added that resolving the CEO transition uncertainty is critical, and his immediate priority is to actively engage with both current and prospective customers to rebuild confidence.