Fortrea Holdings Inc. (FTRE) saw its stock price surge 22.37% during Tuesday's intraday trading session.

The significant upward movement follows the company's release of its first-quarter 2026 financial results, which substantially exceeded analyst expectations. Fortrea reported adjusted earnings per share of $0.16, beating the consensus estimate of $0.05 by 220%. Quarterly revenue of $636.5 million also surpassed estimates of $625.4 million, while adjusted EBITDA of $47.0 million came in well above the estimated $34.3 million.

Furthermore, the company affirmed its full-year 2026 financial guidance, targeting revenues in the range of $2.55 billion to $2.65 billion. The strong earnings performance, coupled with a book-to-bill ratio of 1.15x for the third consecutive quarter, has driven investor optimism and contributed to the stock's sharp rise.