Flotek Industries: Staying Afloat, Thanks To A Great Sale [Seeking Alpha]
Flotek Industries, Inc. (FTK)
Last flotek industries, inc. earnings: 8/7 08:54 pm
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US:NYSE Investor Relations:
flotekind.com/index.php/investor-relations
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Source: Seeking Alpha
Flotek Industries: Staying Afloat, Thanks To A Great Sale Summary Flotek Industries announced a very large sale, generating compelling proceeds. The sale of Florida Chemical allows the company to pay off all of its debt while leaving plenty of cash to go around. Despite the fact that shares nearly doubled already from very low levels, I see a speculative buying opportunity. Flotek Industries ( FTK Archer Daniels Midland ( ADM I like the move a lot and am willing to initiate a small but very speculative position. The Deal & Implications Flotek has reached The deal could close as soon as this quarter with no material tax impact seen as a result of the deal. Note that Flotek acquired Florida Chemical back in 2013 in an effort to integrate the supply of citrus oil, benefiting the energy chemistry technologies business of the company. At the time, Flotek paid roughly $50 million in cash and offered 3.3 million shares which traded around $15 per share at the time, implying a roughly $100 mi
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News
- Flotek Industries, Inc. (NYSE:FTK) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Flotek Announces First Quarter 2024 Results Reflecting Improved ProfitabilityPR Newswire
- Flotek Industries, Inc. (NYSE: FTK) is now covered by analysts at Alliance Global Partners. They set a "buy" rating and a $7.00 price target on the stock.MarketBeat
- Is Flotek Industries, Inc. (NYSE:FTK) Potentially Undervalued? [Yahoo! Finance]Yahoo! Finance
- Flotek Announces Timing of First Quarter 2024 Earnings Release and Conference CallPR Newswire
FTK
Analyst Actions
- 3/14/24 - TheStreet
FTK
Sec Filings
- 5/9/24 - Form 10-Q
- 5/7/24 - Form 8-K
- 4/24/24 - Form DEFA14A
- FTK's page on the SEC website