Quarterly ResultMay 5, 2026, 06:02 AM
Fortrea Q1 Adjusted EBITDA $47.0M; Adjusted EPS $0.16; FY26 Guidance Affirmed
AI Summary
Fortrea Holdings Inc. reported strong first-quarter 2026 financial results, with adjusted EBITDA increasing to $47.0 million and adjusted diluted EPS rising to $0.16. The company achieved a book-to-bill ratio of 1.15x, marking its third consecutive quarter above 1.1x. Fortrea reaffirmed its full-year 2026 financial guidance, reflecting confidence in its strategic journey towards growth and margin expansion.
Key Highlights
- Q1 2026 Adjusted EBITDA increased to $47.0 million from $30.3 million in Q1 2025.
- Q1 2026 Adjusted diluted EPS rose to $0.16 from $0.02 in Q1 2025.
- Q1 2026 GAAP net loss significantly narrowed to $(23.6) million from $(562.9) million in Q1 2025.
- Q1 2026 revenues were $636.5 million, compared to $651.3 million in Q1 2025.
- Book-to-bill ratio for Q1 2026 was 1.15x, marking the third consecutive quarter above 1.1x.
- Backlog as of March 31, 2026, stood at $7,846 million.
- Full-year 2026 revenue guidance reiterated at $2,550 million to $2,650 million.
- Full-year 2026 Adjusted EBITDA guidance reiterated at $190 million to $220 million.