Jill McConnell departed as Chief Financial Officer at Fortrea Holdings Inc..
“He will succeed Jill McConnell, who is stepping down as Chief Financial Officer on the Transition Date but intends to remain employed with the Company for a transition period.”
Jason F. Knoblauch was appointed as Chief Financial Officer at Fortrea Holdings Inc..
“has appointed Jason Knoblauch as the Company’s Chief Financial Officer, effective July 6, 2026 (the "Transition Date").”
Shareholder Votes
Fortrea Holdings Inc. shareholders approved Advisory (Non-Binding) Vote on the Compensation of the Company’s Named Executive Officers at the 2026-06-09 meeting.
“Proposal 3: Advisory (Non-Binding) Vote on the Compensation of the Company’s Named Executive Officers The proposal to approve, on an advisory (non-binding) basis, the compensation of the Company’s Named Executive Officers was approved based upon the following votes: Votes Votes Votes Broker For Against Abstained Non-Votes 73,544,293 3,877,113 140,980 8,632,580”
Shareholder Votes
Fortrea Holdings Inc. shareholders approved Ratification of Appointment of Independent Registered Public Accounting Firm at the 2026-06-09 meeting.
“Proposal 2: Ratification of Appointment of Independent Registered Public Accounting Firm The appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2026 was ratified based upon the following votes: Votes Votes Votes For Against Abstained 86,104,449 71,295 19,222”
Shareholder Votes
Fortrea Holdings Inc. shareholders approved Election of Directors at the 2026-06-09 meeting.
“Proposal 1: Election of Directors The following nominees were elected to the Company’s Board of Directors Votes Votes Votes Broker For Withheld Abstained Non-Votes Anshul Thakral 75,014,537 2,533,352 14,497 8,632,580 Peter M. Neupert 70,709,138 5,953,866 899,382 8,632,580 William J. Sharbaugh 74,923,196 2,623,178 16,012 8,632,580”
Earnings Releases
Fortrea Holdings Inc. reported Full year 2026 results: revenue $2,550 million to $2,650 million. Guidance reaffirmed.
“The Company reiterated its guidance for the full year 2026, targeting revenues in the range of $2,550 million to $2,650 million and adjusted EBITDA in the range of $190 million to $220 million.”
Earnings Releases
Fortrea Holdings Inc. reported First quarter ended March 31, 2026 results: revenue $636.5 million, net income $15.2 million, EPS $0.16.
“Revenue for the first quarter was $636.5 million, compared to $651.3 million in the first quarter of 2025. First quarter GAAP net loss was $23.6 million and diluted loss per share was $0.25”
Governance Changes
Fortrea Holdings Inc.: Filed Certificate of Designations of Series A Preferred Stock in connection with adoption of Rights Agreement (effective 2025-06-12).
“In connection with the adoption of the Rights Agreement, on June 12, 2025, the Company filed a Certificate of Designations of Series A Preferred Stock with the Secretary of State of the State of Delaware.”
Peter M. Neupert departed as Interim Chief Executive Officer at Fortrea Holdings Inc..
“Mr. Thakral will replace Peter M. Neupert, who has served as Interim Chief Executive Officer since May 13, 2025, although Mr. Neupert will continue to serve as a director of the Company and Chairman of the Board.”
Anshul Thakral was appointed as Class III Director at Fortrea Holdings Inc..
“the Board also appointed Mr. Thakral as a Class III director, effective as of the Effective Date”
Anshul Thakral was appointed as President and Chief Executive Officer at Fortrea Holdings Inc..
“the Board of Directors of the Company (the “Board”) has appointed Anshul Thakral as President and Chief Executive Officer of the Company, effective upon his start date with the Company on August 4, 2025”
Peter M. Neupert was appointed as Interim Chief Executive Officer at Fortrea Holdings Inc..
“the Board has appointed Peter M. Neupert, 69, a director on the Board, to succeed Mr. Pike as Interim Chief Executive Officer (“Interim CEO”).”
Thomas Pike departed as Director at Fortrea Holdings Inc..
“Mr. Pike will resign as a member of the Company’s Board of Directors”
Thomas Pike departed as Chief Executive Officer at Fortrea Holdings Inc..
“Thomas Pike is stepping down as the Company’s Chief Executive Officer (“CEO”) on May 13, 2025”
Erin L. Russell was appointed as Class II director at Fortrea Holdings Inc..
“appointed Erin L. Russell as a Class II director on the Board of the Company, effective March 7, 2025.”
Peter Neupert was appointed as Lead Independent Director at Fortrea Holdings Inc..
“Further, in connection with Mr. Eckert’s resignation, at the recommendation of the Board’s Nominating, Corporate Governance and Compliance Committee, the Board appointed Peter Neupert as the Company’s Lead Independent Director.”
Andrew Eckert resigned as member of the Board at Fortrea Holdings Inc..
“On February 21, 2025, the Board, as recommended by the Board’s Nominating, Corporate Governance and Compliance Committee, accepted Andrew Eckert’s resignation as a member of the Board, effective as of such date.”
Amanda M. Warren departed as Principal Accounting Officer at Fortrea Holdings Inc..
“Amanda M. Warren, who has served as principal accounting officer for the Company since June 2023, is expected to continue to serve as principal accounting officer for the Company until such date.”
Robert A. Parks was appointed as Chief Accounting Officer at Fortrea Holdings Inc..
“On July 8, 2024, Robert A. Parks was appointed as Chief Accounting Officer and will assume the role of principal accounting officer of Fortrea Holdings Inc. (the “Company”), effective upon his start date with the Company in August 2024.”
Shareholder Votes
Fortrea Holdings Inc. shareholders approved Advisory Vote on the Frequency of Future Advisory Votes on Executive Compensation at the 2024-05-14 meeting.
“Proposal 4: Advisory Vote on the Frequency of Future Advisory Votes on Executive Compensation The proposal to vote, on an advisory basis, on a frequency of every one year for future advisory votes on the compensation of the Company’s Named Executive Officers was approved, on an advisory basis, by the following final voting results: 1 Year 2 Years 3 Years Votes Abstained Broker Non-Votes 77,571,412 107,530 555,203 43,148 0”
Shareholder Votes
Fortrea Holdings Inc. shareholders approved Advisory Vote on the Compensation of the Company’s Named Executive Officers at the 2024-05-14 meeting.
“Proposal 3: Advisory Vote on the Compensation of the Company’s Named Executive Officers The proposal to approve, on an advisory basis, the compensation of the Company’s Named Executive Officers was approved based upon the following votes: Votes For Votes Against Votes Abstained Broker Non-Votes 71,701,466 6,512,815 63,012 6,283,137”
Shareholder Votes
Fortrea Holdings Inc. shareholders approved Ratification of Appointment of Independent Registered Public Accounting Firm at the 2024-05-14 meeting.
“Proposal 2: Ratification of Appointment of Independent Registered Public Accounting Firm The appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024 was ratified based upon the following votes: Votes For Votes Against Votes Abstained Broker Non-Votes 84,385,312 133,412 41,706 0”
Shareholder Votes
Fortrea Holdings Inc. shareholders approved Election of Directors at the 2024-05-14 meeting.
“Proposal 1: Election of Directors The following nominees were elected to the Board to serve as Class I Directors until the Company’s 2027 Annual Meeting of Stockholders based on the following votes: Votes For Votes Against Votes Abstained Broker Non-Votes Edward Pesicka 73,429,206 4,816,629 31,458 6,283,137 David Smith 73,517,789 4,727,558 31,946 6,283,137”
Machelle Sanders was elected as Class II director at Fortrea Holdings Inc..
“unanimously approved that Machelle Sanders be elected to fill the Class II director vacancy on the Board of the Company, effective May 14, 2024”
Earnings Releases
Fortrea Holdings Inc. reported first quarter ended March 31, 2024 results: revenue $662.1 million, net income GAAP net loss of $81.6 million, EPS $(0.91).
“Fortrea Reports First Quarter 2024 Results For the three months ended March 31, 2024, from continuing operations: • Revenues of $662.1 million • GAAP net loss of $81.6 million • Adjusted EBITDA of $29.5 million • GAAP and adjusted diluted loss per share of $(0.91) and $(0.04), respectively”
Debt Financings
Fortrea Holdings Inc. incurred debt of $300 million with PNC Bank, National Association at one-month term secured overnight financing rate maturing May 6, 2027.
“Fortrea Holdings Inc. (the “Company”), Fortrea Receivables LLC, a special purpose entity (the “SPE”) that is a wholly-owned indirect subsidiary of the Company, and Fortrea Inc., as originator (the “Originator”) and servicer (the “Servicer”), entered into a three-year, $300 million receivables securitization program (the “Receivables Facility”) with PNC Bank, National Association, as administrative agent (the “Administrative Agent”) and initial purchaser”
Material Agreements
Fortrea Holdings Inc. amended Credit Amendment with Goldman Sachs Bank USA (effective 2024-05-03).
“on May 3, 2024, the Company entered into an amendment (the “Credit Amendment”) to modify certain financial covenants to provide the Company with additional flexibility under the Company’s credit agreement dated as of June 30, 2023”
Material Agreements
Fortrea Holdings Inc. entered into Sale and Contribution Agreement with Fortrea Inc. (effective 2024-05-06).
“Pursuant to a Sale and Contribution Agreement, dated as of the Closing Date, (the “Sale and Contribution Agreement”), among the Originator, the Servicer and the SPE, the Originator will sell or contribute accounts receivable and certain related assets”
Material Agreements
Fortrea Holdings Inc. entered into Receivables Purchase Agreement with PNC Bank, National Association valued at $300 million (effective 2024-05-06).
“On May 6, 2024 (the “Closing Date”), Fortrea Holdings Inc. (the “Company”), Fortrea Receivables LLC, a special purpose entity (the “SPE”) that is a wholly-owned indirect subsidiary of the Company, and Fortrea Inc., as originator (the “Originator”) and servicer (the “Servicer”), entered into a three-year, $300 million receivables securitization program”
Betty Larson resigned as member of the Board at Fortrea Holdings Inc..
“the Board of Directors (the “Board”) of Fortrea Holdings Inc. (the “Company”), as recommended by the Board’s Nominating, Corporate Governance and Compliance Committee, accepted Betty Larson’s resignation as a member of the Board, effective as of such date.”
Earnings Releases
Fortrea Holdings Inc. reported full year 2024 results: revenue $3,140 million to $3,205 million. Guidance initiated.
“2024 Financial Guidance For the full year 2024, the Company targets revenues in the range of $3,140 million to $3,205 million and adjusted EBITDA guidance in the range of $280 million to $320 million, excluding the impact of the planned transaction described below.”
Earnings Releases
Fortrea Holdings Inc. reported year ended December 31, 2023 results: revenue $3,109.0 million, net income $(3.4) million, EPS $(0.04).
“Full Year 2023 Financial Results Revenue for the full year was $3,109.0 million, compared to $3,096.1 million for the full year 2022.”
Earnings Releases
Fortrea Holdings Inc. reported three months ended December 31, 2023 results: revenue $775.4 million, net income $(36.0) million, EPS $(0.41).
“Fourth Quarter 2023 Financial Results Revenue for the fourth quarter was $775.4 million, compared to $761.7 million in the fourth quarter of 2022.”
Earnings Releases
Fortrea Holdings Inc. reported financial results for the fourth quarter of 2023.
“Fortrea Holdings Inc. (the “Company”) announced that it delivered a book-to-bill ratio that exceeded 1.2x for the fourth quarter of 2023.”
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).
“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”
Earnings Releases
Fortrea Holdings Inc. reported second quarter ended June 30, 2023 results: revenue $793.0 million, net income $28.3 million, EPS $0.32. Guidance reaffirmed.
“Fortrea Reports Second-Quarter 2023 Results and Provides Full-Year 2023 Guidance • For the three months ended June 30, 2023: • Revenues of $793.0 million • GAAP net income of $28.3 million • Adjusted EBITDA of $72.5 million • GAAP and adjusted earnings per share of $0.32 and $0.52, respectively • Provides full-year financial outlook”
Earnings Releases
Fortrea Holdings Inc. reported the fiscal quarter ended June 30, 2023 results: revenue $793.0 million, net income $28.3 million, EPS $0.32.
“--- EX-99.1 (EX-99.1) --- Fortrea Reports Second-Quarter 2023 Results Company and Provides Full-Year 2023 Guidance • For the three months ended June 30, 2023: • Revenues of $793.0 million • GAAP net income of $28.3 million • Adjusted EBITDA of $72.5 million • GAAP and adjusted earnings per share of $0.32 and $0.52, respectively • Provides full-year financial”
Governance Changes
Fortrea Holdings Inc.: Amended and Restated Bylaws became effective (effective 2023-06-29).
“Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. In connection with the Distribution, the Company filed with the Secretary of State of the State of Delaware an Amended and Restated Certificate of Incorporation (“Amended Charter”). On June 29, 2023, the Amended Charter and Amended and Restated Bylaws (the “Amended Bylaws”), each of which was previously approved by the Board, Labcorp’s board of directors and by Labcorp as the Company’s sole member, became effective.”
Governance Changes
Fortrea Holdings Inc.: Amended and Restated Certificate of Incorporation became effective (effective 2023-06-29).
“Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. In connection with the Distribution, the Company filed with the Secretary of State of the State of Delaware an Amended and Restated Certificate of Incorporation (“Amended Charter”). On June 29, 2023, the Amended Charter and Amended and Restated Bylaws (the “Amended Bylaws”), each of which was previously approved by the Board, Labcorp’s board of directors and by Labcorp as the Company’s sole member, became effective.”
M&A Transactions
Fortrea Holdings Inc. underwent a change of control involving Laboratory Corporation of America Holdings (Labcorp) (closed 2023-06-30).
“On June 30, 2023 (the “Distribution Date”), at 11:59 p.m. Burlington, North Carolina time (the “Effective Time”), Laboratory Corporation of America Holdings (“Labcorp”) completed the previously announced distribution (the “Distribution”) of 100% of the shares of the common stock of Fortrea Holdings Inc. (“Fortrea,” the “Company,” “we,” “us,” or “our”) to holders of Labcorp’s common stock on a pro rata basis (the “spinoff”).”
Debt Financings
Fortrea Holdings Inc. amended senior notes.
“became guarantors of the Notes, as required by the Indenture. The Supplemental Indenture is attached as Exhibit 4.2 to this Current Report on Form 8-K and is hereby incorporated by reference herein.”
Material Agreements
Fortrea Holdings Inc. entered into Transition Services Agreement with Laboratory Corporation of America Holdings (effective 2023-06-30).
“The descriptions included below of the Separation and Distribution Agreement, the Tax Matters Agreement, the Employee Matters Agreement and the Transition Services Agreement do not purport to be complete and are qualified in their entirety by reference to the full text of such agreements, which are filed as Exhibits 2.1, 10.1, 10.2 and 10.3, respectively, to this Current Report on Form 8-K and incorporated herein by reference.”
Material Agreements
Fortrea Holdings Inc. entered into Employee Matters Agreement with Laboratory Corporation of America Holdings (effective 2023-06-30).
“On or prior to the Distribution Date, in connection with the spinoff, we entered into several agreements with Labcorp that set forth the principal actions taken or to be taken in connection with the spinoff and that govern the relationship between us and Labcorp following the spinoff, including the following agreements: • a Separation and Distribution Agreement; • a Tax Matters Agreement; • an Employee Matters Agreement; and • a Transition Services Agreement.”
Material Agreements
Fortrea Holdings Inc. entered into Tax Matters Agreement with Laboratory Corporation of America Holdings (effective 2023-06-30).
“In connection with the spinoff (together with certain related transactions), we and Labcorp entered into a Tax Matters Agreement that governs the parties’ respective rights, responsibilities, and obligations with respect to taxes, including taxes arising in the ordinary course of business, and taxes, if any, incurred as a result of any failure of the spinoff (or certain related transactions) to qualify as tax-free for U.S. federal income tax purposes.”
Material Agreements
Fortrea Holdings Inc. entered into Separation and Distribution Agreement with Laboratory Corporation of America Holdings (effective 2023-06-30).
“Burlington, North Carolina time (the “Effective Time”), Laboratory Corporation of America Holdings (“Labcorp”) completed the previously announced distribution (the “Distribution”) of 100% of the shares of the common stock of Fortrea Holdings Inc.”
Glenn A. Eisenberg departed as Director at Fortrea Holdings Inc..
“Effective at 11:59 p.m. on June 29, 2023, Sandra D. van der Vaart and Glenn A. Eisenberg, who had been serving as members of the Board, ceased to be directors of the Company.”
Sandra D. van der Vaart departed as Director at Fortrea Holdings Inc..
“Effective at 11:59 p.m. on June 29, 2023, Sandra D. van der Vaart and Glenn A. Eisenberg, who had been serving as members of the Board, ceased to be directors of the Company.”
David Smith was appointed as Director at Fortrea Holdings Inc..
“on June 29, 2023, the persons set forth in the table below assumed their positions as directors on our board of directors”
Dr. Amrit Ray was appointed as Director at Fortrea Holdings Inc..
“on June 29, 2023, the persons set forth in the table below assumed their positions as directors on our board of directors”
Edward Pesicka was appointed as Director at Fortrea Holdings Inc..
“on June 29, 2023, the persons set forth in the table below assumed their positions as directors on our board of directors”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.