Fortrea Holdings Inc. (FTRE)
NASDAQ:FTRE
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Earnings Data
Report Date
Aug 17, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.18Last Year’s EPS
0.19Same Quarter Last Year
Moderate Buy
Based on 10 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call balanced clear operational and commercial progress (book-to-bill >1.1x, adjusted EBITDA growth, large backlog, strong cost savings, FIT launch, China momentum and improved cash flow metrics) against near-term revenue pressure driven by lower pass-throughs and FSP pricing concessions, customer concentration and continued negative (though improved) Q1 cash flow. Management reiterated full-year guidance and a multi-year plan to reach mid-teens adjusted EBITDA margins. Overall, the positive operational, financial and commercial momentum and materially improved profitability and cash metrics outweigh the listed headwinds.Company Guidance
Improved Commercial Traction - Book-to-Bill Above 1
Q1 book-to-bill of 1.15x and trailing 12-month book-to-bill of 1.05x, marking the third consecutive quarter with book-to-bill >= 1.1x and indicating improving sales execution and pipeline momentum (notably new-to-Fortrea biotech wins).
Revenue and Backlog Scale
First quarter revenue of $636.5 million and backlog of $7.8 billion, with management reiterating full-year 2026 revenue guidance of $2.55 billion to $2.65 billion.
Material Adjusted EBITDA and Profitability Improvement
Adjusted EBITDA of $47.0 million in Q1, up from $30.3 million in prior year (+~55% YoY), driven primarily by cost savings and improved project mix; adjusted net income of $15.2 million (vs $1.9 million prior year) and adjusted EPS of $0.16.
Strong Cash Flow and Balance Sheet Progress
Operating cash flow improved to negative $17 million (vs negative $124.2 million prior year) and free cash flow improved to negative $25 million (vs negative $127.1 million prior year); available liquidity in excess of $0.5 billion and reduced interest expense ($19.1M, down $3.2M YoY) following prior debt repurchases.
Rightsizing Delivered Early Cost Savings
Q1 delivered nearly $16 million of gross cost savings and over $9 million net savings, against full-year targets of $70-$80 million gross and $40-$50 million net, helping drive margin expansion.
Technology and Differentiation - FIT Launch
Launched Fortrea Intelligent Technology (FIT), an AI-enabled integrated platform strategy embedded into Xcellerate; initial market reception positive and expected to support win rates, efficiency and long-term differentiation.
China and Clinical Pharmacology Momentum
Reported double-digit growth in China pipeline opportunities and notable wins; Leeds clinical research unit performed first-in-human dosing in patients for an immune thrombocytopenia program, and clinical pharmacology authorizations had strongest Q1 since founding.
Operational Improvements and Quality Leadership
Improvements in site activation/start-up timelines, expanded global site navigator program (including China and Japan), steady improvement in Net Promoter Score, and industry leadership (Chief Quality Officer voted ACRO Chair).
Clear Mid-Long Term Margin Target
Management reiterated pathway to mid-teens adjusted EBITDA margin over the next 3-5 years, driven by revenue diversification, growth and continued cost/efficiency actions.
FTRE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
FTRE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 05, 2026 | $12.25 | $14.53 | +18.61% |
Feb 26, 2026 | $10.34 | $10.80 | +4.45% |
Nov 05, 2025 | $9.70 | $11.95 | +23.20% |
Aug 06, 2025 | $6.56 | $6.58 | +0.30% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Fortrea Holdings Inc. (FTRE) report earnings?
Fortrea Holdings Inc. (FTRE) is schdueled to report earning on Aug 17, 2026, Before Open (Confirmed).
What is Fortrea Holdings Inc. (FTRE) earnings time?
Fortrea Holdings Inc. (FTRE) earnings time is at Aug 17, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is FTRE EPS forecast?
FTRE EPS forecast for the fiscal quarter 2026 (Q2) is 0.18.