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Flotek plunges after Q4 update

Dec. 20, 2016 10:43 AM ETFlotek Industries, Inc. (FTK) StockBy: Yoel Minkoff, SA News Editor5 Comments
  • Flotek (NYSE:FTK -14.5%) expects total Energy Chemistry revenues to increase by 10-15% when compared to third quarter, but gross margins for the segment will decline, likely to the 38-40% range, from 40.4% in Q3.
  • The company also expects its Consumer and Industrial Chemistry segment revenues to decline by $2.5M-$3.5M in the fourth quarter compared to the prior period.

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