---
schema_version: "secwatch.filing_event.v1"
accession: "0001965040-25-000023"
form_type: "8-K"
ticker: "FTRE"
cik: "0001965040"
company_name: "Fortrea Holdings Inc."
filed_at: "2025-05-12T23:59:59+00:00"
generated_at: "2026-05-22T00:42:52.121607+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Fortrea Q1 revenue $651M, GAAP loss $562.9M; CEO Pike steps down, interim CEO named

## Summary
- GAAP net loss $562.9M ($6.25 diluted loss) includes $488.8M goodwill impairment.
- Adjusted EPS $0.02; adjusted EBITDA $30.3M, up from $27.1M YoY.
- Revenue $651.3M (down 1.6% YoY); backlog $7,721M; book-to-bill 1.02x.
- Reiterates FY2025 guidance: revenue $2.45-$2.55B, adj EBITDA $170-$200M.
- CEO Thomas Pike stepping down May 13; Lead Independent Director Peter Neupert named Interim CEO.

## SEC filing metadata
- accession: 0001965040-25-000023
- form_type: 8-K
- ticker: FTRE
- cik: 0001965040
- company_name: Fortrea Holdings Inc.
- filed_at: 2025-05-12T23:59:59+00:00
- event_type: leadership
- 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/1965040/000196504025000023/0001965040-25-000023-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1965040/000196504025000023/ftre-20250512.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001965040-25-000023
- JSON: https://secwatch.observer/filing/0001965040-25-000023.json
- Plain text: https://secwatch.observer/filing/0001965040-25-000023.txt

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