secwatch.observer — SEC 8-K summary
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Issuer:     Fortrea Holdings Inc. (FTRE)
CIK:        0001965040
Form:       8-K/A
Filed at:   2023-08-24T23:59:59+00:00
Accession:  0001965040-23-000035
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fortrea corrects trailing 12-month Adjusted EBITDA to $344.5M from $378.9M due to tax provision error
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- Administrative error in Original Earnings Release: 'Provision for income taxes' line item was $70.6M (should be $36.2M).
- Corrected Trailing 12 Adjusted EBITDA is $344.5M, down from originally reported $378.9M (overstated by $34.4M).
- No other changes to Q2 2023 results: revenue $793M, GAAP net income $28.3M, EPS $0.32, adjusted EBITDA $72.5M.
- Full-year 2023 guidance unchanged: revenue $3,034M–$3,096M, adjusted EBITDA $255M–$285M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1965040/000196504023000035/0001965040-23-000035-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1965040/000196504023000035/ftre-20230814.htm
  HTML page:      https://secwatch.observer/filing/0001965040-23-000035

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer