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Flotek Industries, Inc. (FTK)

- NYSE
  • Tue, Apr. 21, 12:47 PM
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  • Tue, Apr. 21, 8:38 AM
    • Flotek Industries (NYSE:FTK) -5.8% premarket after saying it expects to post a Q1 loss of ~$0.03/share vs. analyst expectations for a $0.15 profit, and Q1 revenues of $82M vs. consensus for $102M, citing "the rapid deceleration in commodity prices and resulting evisceration in oilfield activity."
    • FTK says part of the $0.03 loss is the result of one-time items that will be discussed in tomorrow's earnings report and conference call.
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  • Tue, Apr. 14, 10:07 AM
    • Solazyme (SZYM +10.9%) opens sharply higher after announcing a strategic agreement with Flotek (FTK +2.8%) to develop and market advanced drilling fluid technologies, including globally commercializing and marketing the Flocapso drilling fluid additive.
    • The two companies say lab and commercial testing show that the Flocapso additive will allow the use of water-based fluids in wells that previously required more expensive and invasive oil-based products.
    • In addition, FTK will market SZYM's Encapso lubricant, the first commercially available, biodegradable encapsulated lubricant for drilling fluids in certain Middle Eastern markets.
    | 7 Comments
  • Wed, Jan. 28, 12:44 PM
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  • Tue, Jan. 27, 4:18 PM
    • Flotek (NYSE:FTK): Q4 EPS of $0.29 beats by $0.01.
    • Revenue of $124.5M (+23.5% Y/Y) beats by $1.5M.
    • Shares +12.5%.
    • Press Release
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  • Oct. 6, 2014, 9:15 AM
    • Flotek Industries (NYSE:FTK) +2.4% premarket after saying it foresees Q3 revenue exceeding $115M, which would be a company record and ahead of the analyst consensus forecast of ~$112M.
    • Expects Q3 revenues in its energy chemistry technology unit to exceed $67M and drilling technology revenues to approach $30M.
    • Expects enterprise-wide gross margins to approach 40% for the quarter.
    • "While we are aware of concerns over moderating oil prices, our prospect book is as robust as at any time in the last five years," says CEO John Chisholm.
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  • Jan. 30, 2014, 12:38 PM
    • Sales of Flotek's (FTK +5.4%) Complex nano fluid that makes shale oil drillers more productive could triple in two years, Barron's writes, helping to send shares sharply higher today.
    • FTK believes its market share is set to expand from ~5% of U.S. wells today to 15% by the end of 2015; if that's the case, revenues for the fluid could grow from ~$100M to ~$300M in the next two years.
    • FTK has been building credibility for a while, and now that management is beefing up its market effort, Barrington Research says, adding that "2014 is the year it's all going to come together for Flotek."
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  • Aug. 23, 2013, 2:57 PM
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  • Mar. 13, 2013, 5:54 PM
    Flotek Industries (FTK): Q4 GAAP EPS of $0.44. Revenue of $76.7M (+2.4% Y/Y) misses by $1.2M. Shares -2.9% AH. (PR)
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  • Nov. 7, 2012, 6:17 PM
    Flotek Industries (FTK): Q3 EPS of $0.28 beats by $0.07. Revenue of $78.6M (+4.7% Y/Y) misses by $5M. Shares -6.9% AH. (PR)
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  • Mar. 7, 2012, 4:44 PM
    More on Flotek Industries (FTK): Q4 solidly beats across-the-board. Profit grew 57% Y/Y, driven by revenue growth in its Chemicals and Logistics and Drilling Products segments through improved pricing, increased drilling activity and aggressive marketing efforts that boosted market share. Shares +5.2% AH.
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  • Mar. 7, 2012, 4:29 PM
    Flotek Industries (FTK): Q4 EPS of $0.20 beats by $0.05. Revenue of $74.9M (+57.7% Y/Y) beats by $1M. Shares +6.1% AH. (PR)
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  • Feb. 2, 2012, 10:52 AM
    Flotek (FTK) is down 10% after announcing in-line guidance for full-year 2011. Gross margins expanded to 42% from 37% in 2010. Operating income as a percentage of revenue for Q4 is expected to exceed 20%. Flotek decreased its debt by 50% in 2011. Might be a good buying opportunity on the dip; Flotek will be presenting today at Independent Petroleum Association of America Florida Oil & Gas Symposium. (submitted by Michael Filloon)
    | 1 Comment
  • Jan. 3, 2012, 9:00 AM
    Premarket gainers: RMBS +11%. NOK +8%. MT +8%. PCX +6%. TS +6%. ALU +6%. LOGI +6%. BHP +5%. BAK +5%. MU +5%. VALE +5%. RIO +5%. TEVA +5%. ANR +4%. MJN +4%. GOLL+4 INFY +4%. BTU +4%. FRO +4%. X +4%. ABB +4%. GMCR +4%. MPEL +4%. RAM +4%. FCX +4%. BCS +4%. FTK +4%. CHK +4%. MS +4%. DRYS +4%. CTIC +4%. IBN +4%. AKS +3%. ACI +3%. GGGB +3%. ECA +3%.
    Losers: AVEO -8%. MTG -7%. MO -4%. AMR -3%. NBG -3%.
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  • Dec. 28, 2011, 2:22 PM
    Shares of oilfield technology company Flotek Industries (FTK -3.2%) reverse course - tracking the overall weakness in the oil sector - erasing early morning gains after saying it will repurchase $36M of its senior secured convertible notes.
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  • Dec. 28, 2011, 9:55 AM
    Flotek Industries (FTK +2.1%) gains after the firm decides it will repurchase $36M of senior secured convertible notes. The company says it will draw on its cash balance to purchase the securities.
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Company Description
Flotek Industries Inc develops and supplies oilfield products, services and equipment to the oil, gas & mining industries, & high value compounds to companies making cleaning products, cosmetics, food and beverages sold in consumer and industrial markets.