Fortrea Reports Q1 Revenue of $636.5M, Adjusted EPS $0.16; Reaffirms Full-Year Guidance
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Fortrea Holdings Inc. announced its first-quarter 2026 results, reporting revenue of $636.5 million, adjusted EBITDA of $47.0 million, and adjusted diluted EPS of $0.16. The company also posted a GAAP net loss of $(23.6) million and negative free cash flow of $(25.0) million for the quarter. Importantly, Fortrea reaffirmed its full-year 2026 guidance for revenue and adjusted EBITDA, and reported a strong book-to-bill ratio of 1.15x. This earnings report provides critical financial updates following the significant net loss reported in the prior year's 10-K. Traders will be evaluating the mixed results, balancing the positive adjusted EPS and confirmed guidance against the GAAP loss and negative cash flow. Future performance will hinge on the company's ability to improve GAAP profitability and cash generation while executing on its backlog.
At the time of this announcement, FTRE was trading at $12.26 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1.1B. The 52-week trading range was $3.97 to $18.67. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Wiseek News.