Fortrea Q2 revenue beats expectations, outlook raised
FTRE•Analyst view and valuation
The current average analyst rating on the shares is "buy," with 5 "strong buy" or "buy," 5 "hold" and 1 "sell" or "strong sell."
The average consensus recommendation for the biotechnology & medical research peer group is "buy."
Wall Street's median 12-month price target for Fortrea Holdings Inc is $18.50, about 10.6% below its July 28 closing price of $20.70. The stock recently traded at 22 times the next 12-month earnings versus a P/E of 13 three months ago.
Full-year 2026 guidance raised
Fortrea raised its full-year 2026 revenue guidance to $2,620 mln-$2,690 mln and said it expects full-year 2026 adjusted EBITDA of $205 mln-$220 mln.
The company said its focus remains on commercial execution and margin expansion for sustainable growth.
Management cites execution and demand
CEO Anshul Thakral said the results reflect continued progress against the company's strategy and disciplined execution across the business.
He also said the book-to-bill ratio was above 1.0x for a fourth consecutive quarter, indicating ongoing contract wins.
Q2 revenue and EBITDA beat expectations
Fortrea said second-quarter revenue declined year over year but beat analyst expectations, while adjusted EBITDA also came in above estimates.
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue |
