Fortrea Reports Third Quarter 2026 Results

For the three months ended September 30, 2026: * Revenues of $691.5 million * Book-to-bill ratio of 1.12x, resulting in 1.12x book-to-bill for the trailing 12 months * GAAP net income of $0.6 million, or $0.01 per diluted share * Adjusted EBITDA of $58.0 million * Adjusted net income of $27.9 million, or $0.28 per diluted share * Cash provided by operations of $60.8 million and free cash flow of $52.5 million * Raised midpoints of full-year revenue and adjusted EBITDA guidance and narrowed ranges DURHAM, N.C., Oct. 29, 2026 (GLOBE NEWSWIRE) -- Fortrea (Nasdaq: FTRE) (the “Company”), a leading global contract research organization (“CRO”), today reported financial results for the third quarter ended September 30, 2026.

“Fortrea delivered another quarter of progress on our return-to-growth strategy, reflecting stronger commercial execution, continued operational improvements and financial discipline,” said Anshul Thakral, CEO of Fortrea. “Our sustained bookings momentum is building a foundation for growth, while targeted investments in early clinical development and technology enhance our ability to deliver differentiated value to clients. I’m proud of how Fortrea’s teams around the world are embracing our future direction while delivering for clients today. Our continued execution against our priorities gives us confidence to raise the midpoints of full-year guidance while narrowing ranges. We remain focused on translating stronger demand into revenue growth, margin expansion and long-term shareholder value.”