{"schema_version":"secwatch.filing_event.v1","accession":"0001965040-23-000027","form_type":"8-K","ticker":"FTRE","cik":"0001965040","company_name":"Fortrea Holdings Inc.","filed_at":"2023-08-14T23:59:59+00:00","discovered_at":"2026-05-14T18:03:36.138555+00:00","generated_at":"2026-06-11T13:04:52.157993+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Fortrea Q2 net income drops to $28.3M from $66.4M; revenue flat, adjusted EBITDA down 37% YoY","bullets":["Revenue $793.0M flat YoY; Clinical Services $726.1M, Enabling Services $66.9M.","GAAP net income $28.3M ($0.32 EPS) vs $66.4M ($0.75 EPS) in Q2 2022.","Adjusted EBITDA $72.5M vs $115.3M YoY, down ~37%.","Full-year 2023 guidance: revenue $3,034M-$3,096M, adj. EBITDA $255M-$285M.","Completed spin-off from parent at end of June, now independent CRO."],"urls":{"canonical":"https://secwatch.observer/filing/0001965040-23-000027","json":"https://secwatch.observer/filing/0001965040-23-000027.json","markdown":"https://secwatch.observer/filing/0001965040-23-000027.md","text":"https://secwatch.observer/filing/0001965040-23-000027.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1965040/000196504023000027/0001965040-23-000027-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1965040/000196504023000027/ftre-20230814.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-11T13:04:52.157993+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"599485ee82a3c16fc2747653f876c22dc8c65126","claim":"Fortrea Holdings Inc. reported the fiscal quarter ended June 30, 2023 results: revenue $793.0 million, net income $28.3 million, EPS $0.32.","evidence_excerpt":"--- EX-99.1 (EX-99.1) --- Fortrea Reports Second-Quarter 2023 Results Company and Provides Full-Year 2023 Guidance • For the three months ended June 30, 2023: • Revenues of $793.0 million • GAAP net income of $28.3 million • Adjusted EBITDA of $72.5 million • GAAP and adjusted earnings per share of $0.32 and $0.52, respectively • Provides full-year financial","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1965040/000196504023000027/0001965040-23-000027-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the fiscal quarter ended June 30, 2023"},{"label":"Revenue","value":"$793.0 million"},{"label":"Net income","value":"$28.3 million"},{"label":"EPS","value":"$0.32"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}