Fortrea Holdings Inc. reported second quarter 2026 financial results, posting revenues of $678.2 million and adjusted EBITDA of $58.7 million. The company raised its full-year 2026 revenue guidance to a range of $2,620 million to $2,690 million and adjusted EBITDA guidance to $205 million to $220 million. Concurrently, the Board appointed David Smith as Interim Chief Financial Officer following the placement of Jason Knoblauch on paid leave due to pending litigation involving restrictive covenants from his prior employer. Fortrea operates in the clinical research organization industry.

Robert A. Parks will resign as Chief Accounting Officer and principal accounting officer effective August 7, 2026, to pursue other opportunities. Carrie Russell, current Vice President of Accounting, will assume the interim roles of principal accounting officer and interim Chief Accounting Officer on that date, receiving a one-time $20,000 bonus and a $10,000 monthly bonus. Additionally, the company's previously announced CFO transition involving Jill McConnell, who will stay through September 8, 2026, includes a $1,017,500 severance package. Fortrea Holdings Inc. is a contract research organization providing clinical trial services.

Fortrea Holdings Inc. appointed Jason Knoblauch as Chief Financial Officer, effective July 6, 2026, succeeding Jill McConnell. Mr. Knoblauch's compensation package includes a $570,000 annual base salary, a target annual bonus of 85% of base salary, and a $1,250,000 cash inducement award. He will also receive RSU and PSU grants totaling approximately $4,000,000 in fair value. Fortrea Holdings Inc. is a life sciences and clinical research services provider.