Fortrea raises 2026 guidance as Q2 revenue falls; interim CFO named
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.
Key points
- 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.
The filing
Written by AI on Nov 8, 2026, 6:56 AM ET, from this filing 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 July 29, 2026.
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