Flotek Awarded 10-Year Contract to Support a 400 MW Power Project for Puerto Rico Electric Power Authority
Rhea-AI Summary
Flotek (NYSE: FTK) announced a 10-year agreement to support natural gas-fired grid enhancement initiatives for the Puerto Rico Electric Power Authority (PREPA), tied to the Emergency Temporary Power Generation Puerto Rico project totaling 400 MW of capacity.
According to Flotek, the contract is expected to generate a potential revenue backlog of approximately $400 million, with annual revenue at full deployment estimated at about $40 million. Flotek will rent gas-fired power generation equipment and deploy its proprietary PWRtek platform, including up to 40 MW of primary generation and up to six pairs of smart conditioning and distribution skids that provide fuel management, pressure regulation and real-time analytics across the broader 400 MW project. Initial support equipment deployment is expected in Q4 2026, with first power and skid systems targeted by the end of Q1 2027. The company plans to share additional details on its August 5, 2026 earnings call.
Positive
- Potential $400 million revenue backlog over 10-year PREPA contract
- Estimated $40 million in annual revenue at full deployment
- 10-year term supports recurring, higher-visibility revenue streams
- Deployment of up to 40 MW primary power plus smart skids
- Entry into Puerto Rico utility project broadens PWRtek end-market exposure
Negative
- None.
Market reaction after 10-year contract award: FTK +10.00%
Following this news, FTK has gained 10.00%, reflecting a significant positive market reaction. Our momentum scanner has triggered 10 alerts so far, indicating notable trading interest and price volatility. The stock is currently trading at $25.89.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jul 06 | Earnings call schedule | Neutral | -3.6% | Q2 2026 earnings release and conference call dates were announced. |
| May 05 | Q1 earnings report | Positive | -3.1% | Q1 revenue reached $70.1M, but the 24-hour reaction was negative. |
| Apr 09 | Earnings call schedule | Neutral | +3.8% | Q1 2026 results and conference call timing were announced. |
| Mar 11 | Full-year earnings report | Positive | +6.2% | FY 2025 revenue and net income increased year over year. |
| Mar 03 | Utilities contract award | Positive | +2.0% | First utilities infrastructure contract covered up to 50 MW. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Flotek's recent news reactions were mixed: Q1 results were followed by -3.14%, while the prior utilities contract and full-year results were followed by +2.02% and +6.19%.
Key Terms
revenue backlog financial
rfp regulatory
behind the meter technical
real-time analytics technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Flotek has partnered with Power Expectations LLC, which leads the group executing the Emergency Temporary Power Generation Puerto Rico project (RFP 3PPO-0314-20-TGP2). The initiative is expected to deploy 400 MW of natural gas-fired power generation capacity to address
Project Summary:
- Rental Services: Flotek is expected to supply up to six pairs of smart conditioning and distribution skids as components of its proprietary PWRtek platform, along with up to 40 MW of primary power generation capacity. These systems are expected to deliver state-of-the-art fuel management, pressure regulation, and real-time engine optimization across the full 400 MW project, improving resiliency and performance.
- Contract Consideration and Timing: At full deployment, annual revenue is expected to total approximately
$40 million $400 million - Duration: The contract provides for a 10-year term.
Management Commentary
"This contract exemplifies the execution of our corporate strategy and strengthens the momentum of Flotek's industrialized pivot to a data-driven technology leader," said Dr. Ryan Ezell, CEO of Flotek Industries. "Our transformative PWRtek platform has evolved from advanced analytics into a comprehensive end-to-end fuel management and optimization solution for behind the meter power generation. By pairing reliable natural gas-powered generation with smart conditioning, real-time analytics, and advanced distribution capabilities, we are delivering high-uptime, high-margin solutions that meet critical energy infrastructure needs. This opportunity in the utilities sector further validates the strong demand for our PWRtek platform beyond traditional oil and gas and reinforces our shift toward recurring, high-margin revenue streams."
Conference Call Details
The Company plans to issue its second quarter 2026 financial and operating results press release after market close on Tuesday, August 4, 2026, and host its earnings conference call on Wednesday, August 5, 2026, at 9:00 a.m. CT (10:00 a.m. ET). The Company expects to discuss additional details of this contract award on the conference call.
Participants may access the call through Flotek's website at https://ir.flotekind.com/events, by telephone toll free at 1-800-836-8184 (international toll: 1-646-357-8785), or by using the following link to access the webcast: https://app.webinar.net/dYJWBo8V8lL approximately five minutes prior to the start of the call. Following the conclusion of the conference call, a recording of the call will be available on the Company's website.
About Flotek Industries, Inc.
Flotek Industries, Inc. is a leading chemistry and data technology company focused on servicing the Energy industry. The Company's technologies leverage near real-time data to deliver innovative solutions to maximize customer returns. Flotek has an intellectual property portfolio of over 130 patents, over 20 years of field and laboratory data, and a global presence in more than 59 countries.
Flotek has established collaborative partnerships focused on sustainable and optimized chemistry and data solutions, aiming to reduce the environmental impact of energy on land, air, water and people.
Flotek is based in Houston, Texas and its common shares are traded on the New York Stock Exchange under the ticker symbol "FTK." For additional information, please visit www.flotekind.com.
Forward-Looking Statements
Certain statements set forth in this press release constitute forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). These statements include, without limitation, statements regarding Flotek Industries, Inc.'s business, financial condition, results of operations and prospects, as well as statements regarding the expected revenues to be received under the contract, the total term of the contract, the timing of the scaling and deployment of the equipment under the contract, the total power capacity and operating performance of the equipment once deployed, and the Company's ability to perform under and satisfy the terms and conditions of the contract. Words such as will, continue, expects, anticipates, intends, plans, believes, seeks, estimates and similar expressions or variations of such words are intended to identify forward-looking statements, but are not the exclusive means of identifying forward-looking statements in this press release. Although forward-looking statements in this press release reflect the good faith judgment of management, such statements can only be based on facts and factors currently known to management. Consequently, forward-looking statements are inherently subject to risks and uncertainties, and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks related to the overall power generation project that are outside of the Company's control, including, without limitation, securing fuel supply, obtaining permits and governmental approvals, establishing interconnection, satisfying bonding and financing requirements, meeting construction execution timelines, integrating systems provided by multiple contractors, power interruptions, political, regulatory developments, hurricanes, tropical storms and other severe weather events in Puerto Rico, and other factors that could impact project timing, costs, or performance. The Company's ability to realize the expected revenues under the contract is dependent upon the successful completion and operation of the overall 400 MW project, of which the Company's scope represents approximately
View original content to download multimedia:https://www.prnewswire.com/news-releases/flotek-awarded-10-year-contract-to-support-a-400-mw-power-project-for-puerto-rico-electric-power-authority-302840776.html
SOURCE Flotek Industries, Inc.