Fortrea posts Q3 2026 results, raises full‑year guidance but EPS miss triggers stock slide
Fortrea Holdings reported third‑quarter 2026 revenue of $691.5 million and adjusted earnings per share of $0.28, missing consensus estimates. The company raised its full‑year 2026 revenue outlook to $2.665 billion‑$2.690 billion and adjusted EBITDA guidance to $210 million‑$218 million. Management highlighted a $45 million acquisition of Worldwide Clinical Trials’ Early Phase Services and a $558 million backlog adjustment that left adjusted backlog at $7.316 billion. Despite the raised guidance, the earnings miss sent the stock down about 11% in pre‑market trading.
Why it matters
The company’s raised revenue and EBITDA guidance (as noted in the filing) could support a higher valuation, but the EPS miss and 11% share‑price decline (as reported by investing.com) signal short‑term pressure on the stock.
Key facts
- 1Q3 2026 revenue was $691.5 million. tradingview.com
- 2Adjusted diluted EPS for the quarter was $0.28. tradingview.com
- 3Adjusted EBITDA for the quarter was $58.0 million. tradingview.com
- 4Full‑year 2026 revenue guidance was raised to a range of $2.665 billion to $2.690 billion. tradingview.com
- 5Full‑year 2026 adjusted EBITDA guidance was raised to a range of $210 million to $218 million. tradingview.com
- 6A $558 million reduction to the reported backlog left adjusted backlog at $7.316 billion. tradingview.com
Summary written by AlphAI AI Desk from 8 of 8 sources. Not investment advice. Figures are as stated by the linked sources.