Fortrea Q1 revenue falls to $636.5 million; adjusted EPS rises to $0.16
Fortrea reported first-quarter 2026 revenue of $636.5 million, down from $651.3 million a year earlier, while adjusted diluted EPS rose to $0.16 from $0.02 and adjusted EBITDA rose to $47.0 million from $30.3 million. The company reiterated its full-year 2026 guidance of $2,550 million to $2,650 million in revenue and $190 million to $220 million in adjusted EBITDA. Shareholders face a mixed picture: profit measures improved against a year earlier, but revenue declined and free cash flow was negative.
Key points
- Q1 2026 revenue was $636.5 million, compared with $651.3 million in Q1 2025.
- GAAP net loss narrowed to $23.6 million, or $(0.25) per diluted share, from a $562.9 million loss in Q1 2025 that included a $488.8 million goodwill impairment.
- Adjusted EBITDA was $47.0 million and adjusted net income was $15.2 million, or $0.16 per diluted share.
- Full-year 2026 guidance was reiterated: revenue of $2,550 million to $2,650 million and adjusted EBITDA of $190 million to $220 million.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 6:56 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 05, 2026.
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.