Fortrea (FTRE) reported third-quarter 2026 revenue of $691.5 million, compared with $701.3 million a year earlier. GAAP net income was $0.6 million, or $0.01 per basic and diluted share, versus a GAAP net loss of $15.9 million, or $0.17 per diluted share, in the prior-year quarter.
The company raised the midpoints of its full-year 2026 revenue and adjusted EBITDA guidance ranges while narrowing both ranges. Fortrea said it expects full-year revenue of $2.665 billion to $2.690 billion.
- Third-quarter book-to-bill ratio was 1.12x, matching the trailing-12-month ratio.
- Fortrea reduced backlog by $558 million following a contract review; adjusted backlog was $7.316 billion at September 30, 2026.
- Third-quarter cash provided by operations was $60.8 million, while free cash flow was $52.5 million.
- Full-year adjusted EBITDA guidance is $210 million to $218 million.
$FTRE Insider Trading Activity
$FTRE insiders have traded $FTRE stock on the open market 12 times in the past 6 months. Of those trades, 0 have been purchases and 12 have been sales.
Here’s a breakdown of recent trading of $FTRE stock by insiders over the last 6 months:
- ANSHUL THAKRAL (Chief Executive Officer) has made 0 purchases and 4 sales selling 211,726 shares for an estimated $3,939,395.
- MARK A. MORAIS (Chief Operating Officer) has made 0 purchases and 4 sales selling 17,581 shares for an estimated $296,037.
- MACHELLE SANDERS sold 9,700 shares for an estimated $174,697
- JILL G. MCCONNELL (Chief Financial Officer) sold 4,866 shares for an estimated $75,374
- ROBERT PARKS (Chief Accounting Officer) sold 2,000 shares for an estimated $26,880
- CARRIE ELIZABETH RUSSELL (Interim CAO) sold 246 shares for an estimated $4,145
To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.
$FTRE Hedge Fund Activity
We have seen 134 institutional investors add shares of $FTRE stock to their portfolio, and 148 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 2,489,423 shares (+inf%) to their portfolio in Q2 2026, for an estimated $43,315,960
- FMR LLC added 2,402,794 shares (+193.1%) to their portfolio in Q2 2026, for an estimated $41,808,615
- WELLINGTON MANAGEMENT GROUP LLP added 2,384,349 shares (+inf%) to their portfolio in Q2 2026, for an estimated $41,487,672
- LONGAEVA PARTNERS L.P. removed 1,782,763 shares (-87.1%) from their portfolio in Q2 2026, for an estimated $31,020,076
- CORVEX MANAGEMENT LP removed 1,655,642 shares (-35.6%) from their portfolio in Q2 2026, for an estimated $28,808,170
- DEUTSCHE BANK AG\ removed 1,172,221 shares (-45.6%) from their portfolio in Q2 2026, for an estimated $20,396,645
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 828,772 shares (+inf%) to their portfolio in Q2 2026, for an estimated $14,420,632
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
