Fortrea Holdings Inc. (FTRE) experienced a significant pre-market surge of 16.24% on Tuesday.

The sharp upward movement follows the company's release of its first-quarter 2026 financial results, which significantly exceeded analyst expectations. Fortrea reported adjusted earnings per share of $0.16, beating the consensus estimate of $0.05 by 220 percent and representing a 700 percent increase from the same period last year. Quarterly revenue of $636.5 million also surpassed estimates of $625.4 million.

Furthermore, the company reported a strong adjusted EBITDA of $47.0 million, well above the estimated $34.3 million, and affirmed its full-year 2026 financial guidance. The strong earnings performance, coupled with a book-to-bill ratio of 1.15x for the third consecutive quarter, has driven investor optimism in the pre-market session.