Fortrea Q1 revenue $636.5M; adjusted EPS $0.16 beats prior year; book-to-bill 1.15x

Fortrea Holdings Inc.

2026-Q1 EPS reported -$0.25 revenue$636,500,000

Revenue $636.5M, down 2.3% YoY from $651.3M; GAAP net loss $23.6M ($0.25 loss per share).
Adjusted net income $15.2M, adjusted diluted EPS $0.16 vs. $0.02 in Q1 2025.
Adjusted EBITDA $47.0M, up 55% from $30.3M; backlog $7.85B; book-to-bill 1.15x (3rd straight quarter >1.1x).
Full-year 2026 guidance affirmed: revenue $2.55B-$2.65B, adjusted EBITDA $190M-$220M.
CEO cites strong commercial traction and investment in new Fortrea Intelligent Technology platform.

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