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Fortrea Holdings (FTRE) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 29, 2026 · Fortrea Holdings (FTRE) Q3 2026 earnings results →
Q3 2026 Revenue down 1% year over year to $692M · 0¢ of every $1 of revenue kept as net profit · operating margin 2.2%
Fortrea Holdings made $692M in Q3 2026 (-1% Y/Y). Operating margin 2.2%, net earnings $600K. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $691.5M in Q3 2026, down 1% year over year and up 2% from the previous quarter.
Operating profit was $15.0M, a 2.2% margin (up 3.4 points year over year). Total costs fell 5% while revenue fell 1%. Net earnings were $600K.
Operating cash flow was $60.8M (down 30% year over year), 10133% of net earnings. Non-cash charges added back $20.0M of depreciation and amortization and $12.0M of share-based compensation. Working capital and other items added $28.2M. After capital expenditures ($8.3M), free cash flow as the company reports it was $52.5M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 29, 2026 | $692M | -1% | 2.2% | $600K | $60.8M |
| Q2 2026 | 10-Q | Jul 29, 2026 | $678M | -4% | 2.2% | −$13.2M | $28.9M |
| Q1 2026 | 10-Q | May 5, 2026 | $636M | -2% | -0.5% | −$23.6M | −$17.0M |
| Q4 2025 | 10-K | Feb 26, 2026 | $660M | -5% | -2.1% | −$32.5M | $129M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $701M | +4% | -1.2% | −$15.9M | $86.8M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $710M | +7% | -46.5% | −$375M | $21.8M |
| Q1 2025 | 10-Q | May 12, 2025 | $651M | -2% | -79.9% | −$563M | −$124M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Fortrea Holdings
Fortrea Holdings Inc. is a leading global contract research organization (“CRO”), providing biopharmaceutical product and medical device development solutions to pharmaceutical, biotechnology and medical device customers. We provide phase I through IV clinical trial management, clinical pharmacology, and consulting services for our customers. For more than 30 years, we have supported our global pharmaceutical, biotechnology, and medical device customers across more than 20 therapeutic areas, providing agile delivery models that include Full Service, Functional Service Provider (“FSP”), and Hybrid structures. We believe we are well positioned to leverage our global scale, scientific and therapeutic expertise, access to clinical data-driven insights, industry network, and decades of experience to bring customers distinctive, expert solutions.
In its own words, from its 10-K, filed Feb 26, 2026.
Fortrea Holdings against its Services-Medical Laboratories peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -1% against the peers' median +15%. Operating margin: 2.2% against the peers' median 7.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| FTRE Fortrea Holdings | Q3 2026 | $692M | -1% | 2.2% |
| LH Labcorp Holdings | Q3 2026 | $3.8B | +7% | 10.6% |
| DGX Quest Diagnostics | Q3 2026 | $3.1B | +10% | 15.5% |
| NTRA Natera | Q3 2026 | $794M | +34% | -8.6% |
| RDNT RadNet | Q2 2026 | $623M | +25% | 6.3% |
| GH Guardant Health | Q3 2026 | $361M | +36% | -36.8% |
| CAI Caris Life Sciences | Q3 2026 | $275M | +27% | 7.0% |
| LMRI Lumexa Imaging Holdings | Q2 2026 | $264M | +5% | 8.7% |
| VCYT Veracyte | Q3 2026 | $152M | +15% | 10.9% |
Source: Fortrea Holdings 10-Q on SEC EDGAR · CIK 1965040 · Services-Medical Laboratories
13F: who owns FTRE and who is buying
More on FTRE
- How Fortrea Holdings makes money: revenue by segment
- Fortrea Holdings next earnings date and what analysts expect
- Fortrea Holdings stock forecast, price target and fair value
- Who owns Fortrea Holdings stock: holders, funds and Congress trades
- Fortrea Holdings guidance and outlook
- Is Fortrea Holdings a takeover target? LBO and rumors
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results