Fortrea Reports Q3 2026 Results with Raised Full-Year Guidance and Improved Profitability
Fortrea Holdings Inc. (FTRE) reported third-quarter 2026 financial results characterized by improved profitability despite a slight year-over-year revenue decline of 1.4% to $691.5 million. The company saw significant growth in Adjusted EBITDA, which rose 14.4% to $58.0 million, driven by effective cost management and an optimized portfolio mix. Net income improved significantly to $0.6 million compared to a loss in the prior year period. The company demonstrated strong operational momentum with net new business awards of $773 million and a book-to-bill ratio of 1.12x. Following strategic acquisitions, such as the Worldwide Clinical Trials division, Fortrea is focusing on clinical pharmacology expansion and technology integration. Management responded to the quarter's performance by narrowing and raising the midpoint for its full-year 2026 revenue and Adjusted EBITDA guidance.
Tickers: $FTRE
Topics: Acquisition Adjusted EBITDA Backlog EPS Guidance Revenue