Quarterly ResultMay 5, 2026, 06:17 AM
Fortrea Q1 Revenue $636.5M; Adjusted EPS $0.16; Affirms FY26 Guidance
AI Summary
Fortrea Holdings Inc. reported its first-quarter 2026 financial results, showing strong adjusted performance and reaffirming its full-year guidance. The company achieved revenues of $636.5 million and significantly improved its GAAP net loss to $(23.6) million from $(562.9) million in the prior year. Adjusted EBITDA rose to $47.0 million, and adjusted diluted EPS reached $0.16. Fortrea also reported a robust book-to-bill ratio of 1.15x and maintained its full-year 2026 revenue and adjusted EBITDA guidance, reflecting confidence in its strategic growth and margin expansion initiatives.
Key Highlights
- Q1 2026 revenue was $636.5 million, compared to $651.3 million in Q1 2025.
- Q1 2026 GAAP net loss was $(23.6) million, a significant improvement from $(562.9) million in Q1 2025.
- Q1 2026 adjusted EBITDA increased to $47.0 million from $30.3 million in Q1 2025.
- Q1 2026 adjusted diluted EPS was $0.16, up from $0.02 in Q1 2025.
- The 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 was affirmed in the range of $2,550 million to $2,650 million.
- Full-year 2026 adjusted EBITDA guidance was affirmed in the range of $190 million to $220 million.
Price Impact
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