Fortrea (FTRE) Q2 FY26 earnings call

Fortrea delivered a solid second quarter, marked by continued commercial momentum with a book-to-bill ratio above 1.0x for the fourth consecutive quarter, driven by biotech engagement. The company raised its full-year revenue and adjusted EBITDA guidance, reflecting strong execution and operational optimization. Despite a temporary CFO transition, Fortrea maintains financial discipline and expects positive free cash flow for the full year, while strategically investing in growth capabilities and AI integration.