secwatch.observer — SEC 8-K summary
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Issuer:     Fortrea Holdings Inc. (FTRE)
CIK:        0001965040
Form:       8-K
Filed at:   2025-08-06T23:59:59+00:00
Accession:  0001965040-25-000048
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1965040/000196504025000048/0001965040-25-000048-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1965040/000196504025000048/ftre-20250806.htm
  HTML page:      https://secwatch.observer/filing/0001965040-25-000048

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