Oct 29, 6:38 AM ET
Fortrea reported third-quarter 2026 revenue of $691.5 million, down from $701.3 million a year earlier, while adjusted diluted EPS rose to $0.28 from $0.12 and GAAP net income was $0.6 million, compared with a $15.9 million loss. The company raised the midpoints of its 2026 revenue and adjusted EBITDA guidance and narrowed the ranges. It also reduced backlog by $558 million after a contract review, which it said does not affect historical results or 2026 guidance.
- Q3 revenue was $691.5 million, compared with $701.3 million in Q3 2025
- Adjusted diluted EPS was $0.28 vs. $0.12; adjusted EBITDA was $58.0 million vs. $50.7 million
- 2026 guidance: revenue of $2,665 million to $2,690 million and adjusted EBITDA of $210 million to $218 million, with midpoints raised
- Backlog was reduced by $558 million to $7,316 million; book-to-bill ratio was 1.12x
Read the filing on SEC.gov ↗
Sep 30, 4:06 PM ET
Fortrea Holdings appointed Carrie Russell as its Chief Accounting Officer effective October 5, 2026. She has served as interim Chief Accounting Officer and principal accounting officer since August 7, 2026, while also serving as Vice President of Accounting. The filing gives her a $340,000 base salary and a 40% annual incentive bonus target, which is routine for an officer role and does not change the company's financial outlook.
- Carrie Russell is appointed Chief Accounting Officer effective October 5, 2026, after serving as interim CAO since August 7, 2026
- Annual base salary is $340,000, with an annual incentive bonus target of 40% of base salary
- She is eligible for performance stock units and restricted stock units under the 2023 Omnibus Incentive Plan
Read the filing on SEC.gov ↗
Sep 10, 7:00 AM ET
Fortrea's board reinstated Jason Knoblauch as Chief Financial Officer on September 9, 2026, after a temporary restraining order that had kept him from the role was resolved through a settlement and mutual release. Director David Smith, who had served as interim CFO during the leave, stepped down from that role but remains on the board.
- Board reinstated Jason Knoblauch as CFO and principal financial officer on September 9, 2026
- Delaware Court of Chancery had issued a temporary restraining order on July 25, 2026 barring him from working as CFO
- Company, Knoblauch and his former employer entered a settlement agreement and mutual release
- David Smith stepped down as interim CFO but remains a board member
Read the filing on SEC.gov ↗
Jul 29, 6:36 AM ET
Fortrea reported second-quarter 2026 revenue of $678.2 million, down from $710.3 million a year earlier, and a GAAP net loss of $(13.2) million, compared with $(374.9) million in the same quarter of 2025, which included a $309.1 million goodwill impairment. The company raised its full-year 2026 revenue guidance to $2,620 million to $2,690 million and adjusted EBITDA guidance to $205 million to $220 million. Separately, director David Smith was appointed interim CFO on July 27, 2026, after CFO Jason Knoblauch was placed on paid leave amid a court order related to a former employer's lawsuit.
- Q2 2026 revenue was $678.2 million, versus $710.3 million in Q2 2025.
- GAAP net loss was $(13.2) million, or $(0.14) per diluted share, versus $(374.9) million in Q2 2025.
- Full-year 2026 guidance raised to revenue of $2,620 million to $2,690 million and adjusted EBITDA of $205 million to $220 million.
- David Smith appointed interim CFO on July 27, 2026, at $60,000 per month; Jason Knoblauch on paid leave after a July 25, 2026 temporary restraining order.
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.