Fortrea Holdings Inc.
For the period ended Sep 30, 2026. Filed Oct 29, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Oct 29, 2026
FTRE$22.24+1.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
| Common Stock | ||||||
|---|---|---|---|---|---|---|
| Shares | Amounts | Additional Paid-in Capital | Accumulated Deficit | AccumulatedOtherComprehensiveLoss | TotalEquity | |
| Balance at December 31, 2025 | 93.1 | $0.1 | $2,116.6 | $(1,383.2) | $(170.0) | $563.5 |
| Net loss | — | — | — | (23.6) | — | (23.6) |
| Other comprehensive loss, net of tax | — | — | — | — | (25.4) | (25.4) |
| Stock compensation | — | — | 11.4 | — | — | 11.4 |
| Issuance of common stock under employee stock plan | 1.5 | — | — | — | — | — |
| Balance at March 31, 2026 | 94.6 | 0.1 | 2,128.0 | (1,406.8) | (195.4) | 525.9 |
| Net loss | — | — | — | (13.2) | — | (13.2) |
| Other comprehensive loss, net of tax | — | — | — | — | (1.1) | (1.1) |
| Stock compensation | — | — | 12.6 | — | — | 12.6 |
| Issuance of common stock under employee stock plan | 0.5 | — | — | — | — | — |
| Balance at June 30, 2026 | 95.1 | 0.1 | 2,140.6 | (1,420.0) | (196.5) | 524.2 |
| Net income | — | — | — | 0.6 | — | 0.6 |
| Other comprehensive loss, net of tax | — | — | — | — | (4.5) | (4.5) |
| Stock compensation | — | — | 12.0 | — | — | 12.0 |
| Issuance of common stock under employee stock plan | 1.4 | — | — | — | — | — |
| Balance at September 30, 2026 | 96.5 | $0.1 | $2,152.6 | $(1,419.4) | $(201.0) | $532.3 |
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
| Common Stock | ||||||
|---|---|---|---|---|---|---|
| Shares | Amounts | Additional Paid-in Capital | Accumulated Deficit | AccumulatedOtherComprehensiveLoss | TotalEquity | |
| Balance at December 31, 2024 | 89.7 | $0.1 | $2,042.2 | $(397.0) | $(282.9) | $1,362.4 |
| Net loss | — | — | — | (562.9) | — | (562.9) |
| Other comprehensive income, net of tax | — | — | — | — | 44.7 | 44.7 |
| Stock compensation | — | — | 14.6 | — | — | 14.6 |
| Issuance of common stock under employee stock plan | 0.8 | — | — | — | — | — |
| Balance at March 31, 2025 | 90.5 | 0.1 | 2,056.8 | (959.9) | (238.2) | 858.8 |
| Net loss | — | — | — | (374.9) | — | (374.9) |
| Other comprehensive income, net of tax | — | — | — | — | 82.6 | 82.6 |
| Stock compensation | — | — | 22.7 | — | — | 22.7 |
| Issuance of common stock under employee stock plan | 0.3 | — | — | — | — | — |
| Balance at June 30, 2025 | 90.8 | 0.1 | 2,079.5 | (1,334.8) | (155.6) | 589.2 |
| Net loss | — | — | — | (15.9) | — | (15.9) |
| Other comprehensive loss, net of tax | — | — | — | — | (14.8) | (14.8) |
| Stock compensation | — | — | 22.3 | — | — | 22.3 |
| Issuance of common stock under employee stock plan | 1.4 | — | — | — | — | — |
| Balance at September 30, 2025 | 92.2 | $0.1 | $2,101.8 | $(1,350.7) | $(170.4) | $580.8 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions) (unaudited)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net loss | $(36.2) | $(953.7) |
| Adjustments to reconcile net loss to net cash provided by (used for) operating activities: | ||
| Depreciation and amortization | 59.4 | 58.7 |
| Stock compensation | 36.0 | 59.6 |
| Credit loss expense | 4.0 | 13.5 |
| Operating lease right-of-use asset expense | 6.2 | 8.6 |
| Operating lease right-of-use asset impairment | — | 1.3 |
| Goodwill and other asset impairments | — | 797.9 |
| Deferred income taxes | 1.0 | (24.4) |
| Unrealized foreign exchange movements | (13.2) | 38.8 |
| Other, net | 2.8 | 2.2 |
| Changes in assets and liabilities: | ||
| Increase in accounts receivable and unbilled services, net | (55.3) | (10.6) |
| Decrease in prepaid expenses and other | 20.3 | 43.8 |
| Increase (decrease) in accounts payable | 23.7 | (89.7) |
| Increase in unearned revenue | 51.0 | 54.6 |
| Decrease in accrued expenses and other | (27.0) | (16.2) |
| Net cash provided by (used for) operating activities | 72.7 | (15.6) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Capital expenditures | (25.3) | (17.7) |
| Proceeds from sale of business, net | — | 39.6 |
| Proceeds from sale of assets | 2.0 | — |
| Net cash (used for) provided by investing activities | (23.3) | 21.9 |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from revolving credit facilities | — | 453.9 |
| Payments on revolving credit facilities | — | (453.9) |
| Debt issuance costs | — | (0.6) |
| Net cash used for financing activities | — | (0.6) |
| Effect of exchange rate changes on cash and cash equivalents | (3.4) | 7.1 |
| Net change in cash and cash equivalents | 46.0 | 12.8 |
| Cash and cash equivalents at beginning of period | 174.6 | 118.5 |
| Cash and cash equivalents at end of period | $220.6 | $131.3 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.