Fortrea reports Q1 adjusted EPS 16c, consensus 5c

Reports Q1 revenue $636.5M, consensus $625.94M. Backlog as of March 31, 2026 was $7.846B, and the book-to-bill ratio for the quarter was 1.15x. “We started the year strong, focused on delivering for our clients with excellence and making advances in our strategic journey back to growth and margin expansion,” said Anshul Thakral, CEO of Fortrea (FTRE). “Our performance was in line with our expectations for the year, which enables us to invest further in solutions and in our people. Our commercial traction across biotech and large pharma clients underscores we are on the right track. The recent launch of Fortrea Intelligent Technology demonstrates our commitment to outcomes-based innovation that spans the R&D ecosystem. Our collaborative approach and disciplined execution power our progress as a leading CRO.”