DURHAM, N.C. — November 5, 2025 — Leads & Copy —
Fortrea (FTRE) reported its third quarter financial results for the period ended September 30, 2025, including revenues of $701.3 million, a GAAP net loss of $(15.9) million, and adjusted EBITDA of $50.7 million. The company is raising its 2025 revenue guidance to between $2,700 million and $2,750 million and narrowing its adjusted EBITDA guidance to between $175 million and $195 million.
CEO Anshul Thakral said Fortrea delivered a solid performance that met expectations. Thakral noted that he is pleased with how the team quickly moved through the leadership transition without missing a beat.
Backlog as of September 30, 2025, was $7,644 million, and the book-to-bill ratio for the quarter was 1.13x, resulting in 1.07x book-to-bill for the trailing 12 months.
Year-to-date revenue for the first nine months of 2025 was $2,062.9 million, compared to $1,999.4 million in the same period of 2024. Year-to-date GAAP net loss was $(953.7) million and diluted loss per share was $(10.53).
For investor inquiries, contact Tracy Krumme at 984-385-6707 or tracy.krumme@fortrea.com; for media inquiries, contact Sue Zaranek at 919-943-5422 or media@fortrea.com, or Kate Dillon at 646-818-9115 or kdillon@prosek.com.
Source: Fortrea
