---
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"
generated_at: "2026-06-11T13:04:52.157993+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Fortrea Q2 net income drops to $28.3M from $66.4M; revenue flat, adjusted EBITDA down 37% YoY

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001965040-23-000027
- JSON: https://secwatch.observer/filing/0001965040-23-000027.json
- Plain text: https://secwatch.observer/filing/0001965040-23-000027.txt

## Key facts
- Earnings Releases
  Fortrea Holdings Inc. reported the fiscal quarter ended June 30, 2023 results: revenue $793.0 million, net income $28.3 million, EPS $0.32.
  - Period: the fiscal quarter ended June 30, 2023
  - Revenue: $793.0 million
  - Net income: $28.3 million
  - EPS: $0.32
  - Result: reported results
  source text: --- 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_url: https://www.sec.gov/Archives/edgar/data/1965040/000196504023000027/0001965040-23-000027-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.