{"schema_version":"secwatch.filing_event.v1","accession":"0001965040-23-000039","form_type":"8-K","ticker":"FTRE","cik":"0001965040","company_name":"Fortrea Holdings Inc.","filed_at":"2023-11-13T23:59:59+00:00","discovered_at":"2026-05-14T18:03:31.469534+00:00","generated_at":"2026-06-08T05:46:05.448497+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Fortrea Q3 revenue up 2% to $776M but GAAP net loss of $13.1M; adjusted EBITDA down 33% YoY","bullets":["GAAP diluted EPS of ($0.15) vs $0.68 in Q3 2022; adjusted EPS of $0.24.","Clinical Services revenue $711.7M, Enabling Services $64.7M; book-to-bill 1.24x.","Backlog $7.13B; cash and cash equivalents $107.5M, gross debt $1.63B.","FY2023 revenue guidance $3,075M-$3,130M; reaffirms adjusted EBITDA $255M-$285M.","First quarter as independent company; CEO cites positive customer response and transformation progress."],"urls":{"canonical":"https://secwatch.observer/filing/0001965040-23-000039","json":"https://secwatch.observer/filing/0001965040-23-000039.json","markdown":"https://secwatch.observer/filing/0001965040-23-000039.md","text":"https://secwatch.observer/filing/0001965040-23-000039.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1965040/000196504023000039/0001965040-23-000039-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1965040/000196504023000039/ftre-20231113.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-08T05:46:05.448497+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":"758122b5f6b9c320fb6dc0d008e22852e7fc4498","claim":"Fortrea Holdings Inc. reported For the three months ended September 30, 2023 results: revenue $776.4 million, net income $13.1 million, EPS ($0.15).","evidence_excerpt":"Fortrea Reports Third Quarter 2023 Results For the three months ended September 30, 2023: • Revenues of $776.4 million • GAAP net loss of $13.1 million • Adjusted EBITDA of $70.5 million • GAAP and adjusted diluted earnings (loss) per share of $(0.15) and $0.24, respectively • Quarterly book-to-bill ratio of 1.24x","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1965040/000196504023000039/0001965040-23-000039-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"For the three months ended September 30, 2023"},{"label":"Revenue","value":"$776.4 million"},{"label":"Net income","value":"$13.1 million"},{"label":"EPS","value":"($0.15)"},{"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"}