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Flotek (FTK)
NYSE:FTK
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Earnings Data
Report Date
Mar 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.11Last Year’s EPS
$0.12Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 04, 2024
|% Change Since: 46.40%
|Next Earnings Date:Mar 06, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a positive sentiment overall, with significant revenue growth in challenging market conditions, strong performance in the Data Analytics segment, and substantial improvements in profitability metrics. While there were some challenges, such as a sequential decline in external customer chemistry revenues and a decrease in gross profit margin, these were offset by achievements in debt reduction and successful expansion in new market opportunities like flare monitoring.Company Guidance
During Flotek's Q3 2024 earnings call, the company provided updated guidance, highlighting several key metrics that underscore its financial and operational performance. Flotek reported an 8% sequential increase in total revenue, reaching $49.7 million, and a 30% growth in the Data Analytics segment, with Data-as-a-Service revenue rising 40% sequentially. The Chemistry Technologies segment saw a 7% revenue increase despite a declining frac fleet market. The company achieved a net income of $2.5 million and adjusted EBITDA of $4.8 million, marking a year-over-year increase of 97% and 43%, respectively. Flotek also reduced its borrowings by 81%, or $6.1 million, compared to year-end 2023, and recorded zero recordable and lost time incidents. The company raised its adjusted EBITDA guidance for the full year to a range of $16.5 million to $18.5 million, a 35% increase at the midpoint from previous guidance.Revenue Growth Amidst Market Headwinds
Total revenue grew by 5% compared to Q3 2023 and 8% sequentially over Q2 2024, despite a 14% decline in active frac fleet counts.
Data Analytics Segment Surge
Data Analytics segment revenues grew 30% in Q3 2024, with Data-as-a-Service revenue growth of 40% sequentially.
Significant Profitability Improvements
Net income of $2.5 million and adjusted EBITDA of $4.8 million, representing year-over-year increases of 97% and 43%, respectively.
Debt Reduction Achievement
Reduced borrowings outstanding under the asset-based loan by 81%, or $6.1 million, compared to year-end 2023.
Strong Performance in Flare Monitoring
First revenues from flare monitoring recognized with 11 units delivered, growing from 3 units earlier in the year.
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FTK Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FTK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 04, 2024 | $5.00 | $6.15 | +23.00% |
| Aug 06, 2024 | $4.22 | $3.87 | -8.29% |
| May 07, 2024 | $3.60 | $3.57 | -0.83% |
| Mar 12, 2024 | $2.81 | $3.65 | +29.89% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Flotek (FTK) report earnings?
Flotek (FTK) is schdueled to report earning on Mar 06, 2025, TBA Not Confirmed.
What is Flotek (FTK) earnings time?
Flotek (FTK) earnings time is at Mar 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FTK EPS forecast?
FTK EPS forecast for the fiscal quarter 2024 (Q4) is $0.11.
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