Shares of NPK International (NPKI) are soaring 27.81% in pre-market trading on Friday, as investors react enthusiastically to the company's outstanding first-quarter earnings report. The oil-related services and equipment provider significantly outperformed analyst expectations, demonstrating remarkable resilience in a challenging market environment.

For the quarter ended March 31, NPK International reported adjusted earnings of 12 cents per share, substantially beating the mean analyst estimate of 8 cents and improving upon the 10 cents per share earned in the same quarter last year. Despite a 61.7% year-over-year decline, the company's revenue of $64.78 million surpassed the Street's forecast of $56.21 million. NPK International also posted a solid quarterly net income of $10 million, further impressing investors and analysts alike.

The stellar earnings results have bolstered analyst sentiment towards NPK International. The current average rating on the company's shares is "buy," with four analysts recommending either "strong buy" or "buy." Wall Street has set a median 12-month price target of $11.00 for the stock. This positive outlook, coupled with NPK International's ability to outperform in a difficult quarter, appears to be fueling the substantial pre-market rally, setting the stage for a potentially strong trading session.