Thu, Jul. 23, 2:17 PM
- Flotek Industries (FTK +34.3%) soars after reporting better than expected Q2 results, driven by acceleration in adoption of its CnF technology, with volumes growing 76% Q/Q despite a 40% drop in overall activity in North American markets.
- FTK says Q2 CnF sales in the U.S. surged 113% Q/Q, setting a new quarterly CnF sales record and prompting CEO John Chisholm to say the company's flagship technology is reaching a tipping point where drillers consider its use essential to maximize revenues from wells.
- Stephens analyst Matthew Marietta raises his price target for FTK to $23 from $17, adding the stock to the firm's Best Ideas List and maintaining an Overweight rating.
Thu, Jul. 23, 12:44 PM
Thu, Jul. 23, 9:15 AM
Wed, Jul. 22, 5:41 PM
Tue, Apr. 21, 12:47 PM
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.
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.
Wed, Jan. 28, 12:44 PM
Tue, Jan. 27, 4:18 PM
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.
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."
Aug. 23, 2013, 2:57 PM
Mar. 13, 2013, 5:54 PM
Nov. 7, 2012, 6:17 PM
Mar. 7, 2012, 4:44 PMMore 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. | Comment!
Mar. 7, 2012, 4:29 PM
FTK vs. ETF Alternatives
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.
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