Fortrea Q1 Net Loss Narrows to $(23.6)M from $(562.9)M

Fortrea Holdings Inc. reported a significant reduction in its net loss for the first quarter of 2026, narrowing to $(23.6) million from $(562.9) million in the prior year, largely due to the absence of goodwill impairment charges. Revenues for the quarter decreased slightly to $636.5 million from $651.3 million. The company also improved its net cash used for operating activities to $(17.0) million from $(124.2) million. Fortrea amended its $300 million receivables securitization program, extending its term to February 2029, and continues with restructuring plans.