Every material Form 8-K Fortrea filed with the SEC in 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
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
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
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
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.
Fortrea Holdings said Chief Accounting Officer Robert Parks will resign effective August 7, 2026, to pursue an opportunity outside the contract research industry, and that Vice President of Accounting Carrie Russell will serve as interim principal accounting officer. The filing also details the transition of CFO Jill McConnell, who will remain employed through September 8, 2026, with severance of $1,017,500 if she stays through that date. The company states Parks' decision was not the result of any disagreement over operations, policies, or accounting practices.
Robert A. Parks informed the company on July 8, 2026, of his resignation as Chief Accounting Officer and principal accounting officer, effective August 7, 2026.
Carrie Russell, Vice President of Accounting since August 2024, becomes interim principal accounting officer and interim Chief Accounting Officer, receiving a one-time $20,000 bonus plus $10,000 per month.
CFO Jill McConnell stays through September 8, 2026, with severance of $1,017,500 paid in two installments of $508,750, and a consulting agreement runs through March 8, 2027.
Fortrea appointed Jason Knoblauch as chief financial officer, effective July 6, 2026, succeeding Jill McConnell, who steps down on that date but will stay with the company for a transition period. The company said the change does not reflect any disagreement with Ms. McConnell over financial reporting, internal controls, or auditing. Fortrea also reiterated its full-year 2026 guidance, which it did not change.
Jason Knoblauch, 45, becomes CFO effective July 6, 2026; he previously was CFO at Clario, from August 2023 to June 2026.
Offer letter dated June 22, 2026 sets a $570,000 base salary, an 85% target bonus, and a $1,250,000 cash inducement paid $500,000 at start and $750,000 after one year.
Planned inducement equity of about $2,300,000 in RSUs and $1,700,000 in PSUs, anticipated in September 2026, capped at 400,000 shares combined.
2026 guidance reiterated: revenues of $2,550 million to $2,650 million and adjusted EBITDA of $190 million to $220 million.
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.
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.
Fortrea reported fourth-quarter and full-year 2025 results and issued 2026 guidance. Full-year revenue rose to $2,723.4 million, but the net loss reached $986.2 million after an $797.9 million goodwill impairment, and full-year adjusted EBITDA fell to $189.9 million from $202.5 million. The company guided 2026 revenue of $2,550 million to $2,650 million and adjusted EBITDA of $190 million to $220 million.
Fourth-quarter revenue was $660.5 million, down from $697.0 million a year earlier; fourth-quarter adjusted diluted EPS was $0.09 versus $0.18.
Full-year 2025 GAAP net loss was $(986.2) million, or $(10.81) per diluted share, including a $797.9 million goodwill impairment recognized in the first half of 2025.
Full-year 2025 adjusted diluted EPS was $0.43, up from $0.33 in 2024; adjusted EBITDA was $189.9 million versus $202.5 million.
2026 guidance: revenue of $2,550 million to $2,650 million and adjusted EBITDA of $190 million to $220 million; earnings call set for 8:00 am ET on February 26, 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.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Fortrea filing is on SEC EDGAR ↗. 8-K briefs of other companies →