---
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"
generated_at: "2026-06-08T05:46:05.448497+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Fortrea Q3 revenue up 2% to $776M but GAAP net loss of $13.1M; adjusted EBITDA down 33% YoY

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001965040-23-000039
- JSON: https://secwatch.observer/filing/0001965040-23-000039.json
- Plain text: https://secwatch.observer/filing/0001965040-23-000039.txt

## Key facts
- Earnings Releases
  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).
  - Period: For the three months ended September 30, 2023
  - Revenue: $776.4 million
  - Net income: $13.1 million
  - EPS: ($0.15)
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1965040/000196504023000039/0001965040-23-000039-index.htm

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