Fortrea raises 2026 revenue guidance to $2.62B-$2.69B and names interim CFO

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Fortrea Holdings raised its full-year 2026 revenue guidance to a range of $2.62 billion to $2.69 billion and adjusted EBITDA guidance to $205 million to $220 million, while disclosing that newly appointed CFO Jason Madlock cannot currently serve due to a restrictive-covenant proceeding with his former employer. Board member David Smith is serving as interim CFO, and Aaron Russell will chair the Audit Committee. Second-quarter revenue was $678.2 million, a 4.5% decline year-over-year, with adjusted EBITDA of $58.7 million and a net loss of $13.2 million. The company reported $720.4 million in net new business and a book-to-bill of 1.06x, marking its fourth consecutive quarter above 1.0x. Management expects to remain free cash flow positive through the rest of 2026.

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Biotech & Genomic Medicine · 1 stocks
Fortrea Holdings Inc.
FTRE
▲ PositiveCapitalrelevance

Raised 2026 revenue and EBITDA guidance, strong book-to-bill, and expects positive free cash flow.

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