Earnings Releases·Oct 29, 2026, 6:38 AM ET

Fortrea — Third Quarter 2026 Earnings Summary

Third quarter revenue declined 1.4% year-over-year to $691.5 million, while GAAP net income turned positive at $0.6 million compared to a $15.9 million loss in 2025; adjusted net income and adjusted EBITDA rose 139% and 14% respectively to $27.9 million and $58.0 million.
The company raised full-year 2026 guidance midpoints and narrowed ranges, projecting revenue of $2.665–$2.690 billion and adjusted EBITDA of $210–$218 million, citing sustained bookings momentum.
Adjusted backlog was reported at $7.316 billion following a $558 million reduction to reflect estimated scope and inactive trials, a change with no impact on historical results or near-term revenue estimates.
Year-to-date free cash flow reached $47.4 million, and cash and cash equivalents increased to $220.6 million as of September 30, 2026.