Flotek Posts $13.3M Q3 Net Income, Topping Prior Quarter's $9.95M
FTK sits 88% above its 52-week low of $13.19.
Summary
Flotek reported third-quarter net income of $13.3M, or 34c per share, up from $9.95M in Q2, on revenue of $114.4M, which rose 104% year over year and marked a twelve-year high. That is a meaningful step up for a company that earned roughly $10M last quarter, and it comes after the September guidance raise to $360M-$370M revenue and $50M-$54M Adjusted EBITDA for the full year, with the company raising its 2026 outlook again. The quarter is the first full period reflecting the $120M senior secured term loan closed September 23, which refinanced the $40M PWRTEK note and extended maturities. The overhang remains the terminated 10-year, ~$400M Puerto Rico power contract that PREPA cancelled in August, so the quality of this quarter's earnings and whether the Data Analytics power business can grow without that deal is the open question.
At the time of this announcement, FTK was trading at $24.84 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $899.7M. The 52-week trading range was $13.19 to $39.67. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.