Flotek's stock plunges to pace NYSE decliners after downbeat revenue outlook [MarketWatch]
Flotek Industries, Inc. (FTK)
Last flotek industries, inc. earnings: 8/7 08:54 pm
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Source: MarketWatch
Flotek's stock plunges to pace NYSE decliners after downbeat revenue outlook Shares of Flotek Industries Inc. FTK, -38.08% plunged 37.5% in active afternoon trade Monday to pace the NYSE's decliners, putting them on track to close at a 7 1/2-year low, after the chemical company provided a downbeat first-quarter outlook. Volume spiked up to 5.4 million shares, compared with a full-day average of less than 1 million shares. The Houston-based company, which is scheduled to report results on May 9, said it expects revenue of $59 million to $62 million, down from $80.0 million in the same period a year ago. The one analyst that provided an estimate expected revenue of $73.4 million. "At the start of the quarter, our revenues were impacted by weather-related delays in activity," said Chief Executive John Chisholm. "While we continued to focus on fixed cost reductions, our efforts did not keep pace with revenue declines." The stock is on track to close below the $4 mark for the first time
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News
- Flotek Announces Timing of First Quarter 2024 Earnings Release and Conference CallPR Newswire
- Flotek Industries Full Year 2023 Earnings: EPS Beats Expectations, Revenues Lag [Yahoo! Finance]Yahoo! Finance
- Flotek Industries, Inc. (NYSE: FTK) was upgraded by analysts at TheStreet from a "d" rating to a "c-" rating.MarketBeat
- Commodity Roundup: Drone strikes on Russian refineries keep oil supported; gold down [Seeking Alpha]Seeking Alpha
- Flotek Reports Fourth Quarter and Full-Year 2023 Results Highlighted by Growth in All Profitability Metrics Including a $31 Million Improvement in Annual Gross Profit [Yahoo! Finance]Yahoo! Finance
FTK
Analyst Actions
- 3/14/24 - TheStreet
FTK
Sec Filings
- 3/28/24 - Form 11-K
- 3/15/24 - Form 10-K
- 3/12/24 - Form 4
- FTK's page on the SEC website