Fortrea Q2 GAAP loss $374.9M on $309.1M goodwill impairment; raises 2025 revenue guidance

Fortrea Holdings Inc.

2025-Q2 EPS reported -$10.37 revenue$1,361,600,000

Revenue $710.3M, +7% YoY; GAAP net loss $374.9M ($4.14 diluted loss) includes $309.1M non-cash goodwill impairment.
Adjusted net income $17.6M ($0.19 adjusted diluted EPS) vs adjusted net loss $2.3M in Q2 2024.
Book-to-bill 0.79x for quarter, backlog $7,547M; trailing 12-month book-to-bill 1.10x.
Raising FY2025 revenue guidance to $2,600-2,700M; affirming adjusted EBITDA guidance $170-200M.
New CEO Anshul Thakral joined Aug 4, succeeding interim CEO Peter Neupert who remains chairman.

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