Fortrea — Third Quarter 2026 Earnings Summary

Fortrea reported third-quarter 2026 revenues of $691.5 million, a decrease from the $701.3 million recorded in the same period of 2025. The company achieved a GAAP net income of $0.6 million and an adjusted net income of $27.9 million, while adjusted EBITDA rose to $58.0 million. Following a detailed review of its backlog, Fortrea reduced its backlog by $558 million to $7,316 million, though this adjustment did not impact historical results or current guidance. The company updated its full-year 2026 guidance, raising the revenue midpoint to $2,677.5 million and the adjusted EBITDA midpoint to $214 million.