Flotek Industries Added to Russell 3000® Index

Rhea-AI Summary

Flotek Industries (NYSE: FTK) announced its addition to the broad-market Russell 3000® Index, effective June 30, 2025, as part of the annual Russell indexes reconstitution. The inclusion automatically places Flotek in either the large-cap Russell 1000® Index or small-cap Russell 2000® Index, along with corresponding growth and value style indexes. The Russell 3000® Index represents the 4,000 largest US stocks ranked by market capitalization as of April 30th. CEO Dr. Ryan Ezell highlighted this milestone as a reflection of three years of progress in building their chemistry and data analytics business. The Russell indexes are significant benchmarks in the investment community, with approximately $10.6 trillion in assets benchmarked against them as of June 2024.

Positive

• Inclusion in Russell 3000® Index increases visibility to institutional investors and investment managers
• Automatic inclusion in additional Russell indexes (Russell 1000® or Russell 2000®) expands market exposure
• Company demonstrates growth by qualifying for index inclusion based on market capitalization requirements

Negative

• None.

Insights

Investment Index Analyst

Flotek's Russell 3000 inclusion provides increased visibility and potential passive investment inflows, enhancing liquidity for shareholders.

Flotek Industries' addition to the Russell 3000® Index represents a significant development for the company's market visibility. This inclusion automatically places Flotek in either the Russell 1000® (large-cap) or more likely the Russell 2000® (small-cap) index, along with corresponding growth and value style indexes.

The Russell indexes serve as important benchmarks, with approximately $10.6 trillion in assets benchmarked against them as of June 2024. This inclusion typically delivers three key benefits for shareholders:

• Enhanced trading liquidity as index funds and ETFs tracking the Russell indexes must purchase shares
• Increased institutional visibility among investment managers who use these indexes as benchmarks
• Potential share price stability due to broader ownership base

The inclusion follows what the CEO describes as "three years of progress" in transforming Flotek into a "chemistry and data analytics company." This development validates the company's strategic evolution and market capitalization growth to the point of qualifying for this broader market index.

The actual implementation date of June 30 will likely see temporarily elevated trading volume as index funds adjust their portfolios to include Flotek shares. While index inclusion doesn't directly change fundamental business operations, it represents external validation of the company's market position and potentially expands its shareholder base.

HOUSTON, June 3, 2025 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK) announced today that it will be added as a member of the broad-market Russell 3000^® Index, effective after the US market opens on June 30, as part of the 2025 Russell indexes reconstitution.

The annual reconstitution of the Russell US indexes captures the 4,000 largest US stocks as of April 30^th, ranking them by total market capitalization. Membership in the Russell 3000^® Index, which remains in place for one year, means automatic inclusion in either the large-cap Russell 1000^® Index or the small-cap Russell 2000^® Index as well as the applicable Russell growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily based upon objective, market-capitalization rankings and style attributes.

"Joining the Russell 3000^® Index marks another milestone in Flotek's ongoing success, building on three years of  progress in creating a dynamic and innovative chemistry and data analytics company," said Dr. Ryan Ezell, CEO of Flotek. "This achievement further amplifies our shareholders' value by elevating our profile within the investment  community. We're thrilled to continue sharing Flotek's vision with a broader investor audience through our addition to this prestigious index."

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to data as of the end of June 2024, about $10.6 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, the global index provider.

For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell 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 top tier technologies leverage near real-time data to deliver innovative solutions to maximize customer returns. Flotek has an intellectual property portfolio of over 130 patents, 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.

About FTSE Russell, an LSEG Business

FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $18.1 trillion is benchmarked to FTSE Russell indexes. Leading asset owners, asset managers, ETF providers and investment banks choose FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives. A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.

FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit https://www.lseg.com/en/ftse-russell

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) regarding Flotek Industries, Inc.'s business, financial condition, results of operations and prospects. 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. Further information about the risks and uncertainties that may impact the Company are set forth in the Company's most recent filing with the Securities and Exchange Commission on Form 10-K (including, without limitation, in the "Risk Factors" section thereof), and in the Company's other SEC filings and publicly available documents. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this press release.

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SOURCE Flotek Industries, Inc.

FAQ

When will Flotek Industries (FTK) be added to the Russell 3000 Index?

Flotek Industries will be added to the Russell 3000® Index on June 30, 2025, after the US market opens.

What does Flotek's inclusion in the Russell 3000 Index mean for investors?

The inclusion increases Flotek's visibility to institutional investors and provides automatic inclusion in either the Russell 1000® or Russell 2000® Index, potentially increasing trading volume and market exposure.

How are companies selected for the Russell 3000 Index?

Companies are selected based on market capitalization rankings, capturing the 4,000 largest US stocks as of April 30th of each year.

How much in assets are benchmarked against Russell US indexes?

Approximately $10.6 trillion in assets are benchmarked against Russell US indexes, as of June 2024.

Who is the current CEO of Flotek Industries (FTK)?

Dr. Ryan Ezell is the current CEO of Flotek Industries.