Flotek Inds Inc Del Stock Price, News & Analysis

Flotek Industries (NYSE: FTK) reported its fourth quarter and full-year results for 2020, revealing a consolidated revenue of $12.1 million, down 5% from Q3 and 38% year-over-year. The company faced a loss from continuing operations of $17.7 million, although this was an improvement from a $36.9 million loss in Q4 2019. Adjusted EBITDA loss narrowed to $6.8 million from $8.5 million. Flotek's cost-cutting initiatives reduced expenses by 40.4%. The company invested in its business and launched new products to capture growth opportunities, particularly in ESG and digital analytics.

Flotek Industries, Inc. (NYSE: FTK) has announced a postponement of its fourth quarter and full-year 2020 earnings results originally set for March 10, 2021, due to severe winter storms in Texas. The new schedule will see the release of earnings on March 16, 2021, before market open, with a conference call to follow at 4:00 p.m. CST. Flotek aims to file its Form 10-K on the same day. The company specializes in chemistry technologies for various sectors, including energy and sanitation.

Flotek Industries has launched Flotek Protekol, a new line of high-performance surface cleaners, disinfectants, and hand sanitizers. These products, developed in response to the COVID-19 pandemic, are made from US-sourced ingredients and are registered with the FDA and EPA. The product line includes over 12 items, such as Citrus Clean and HP+ All-Purpose Cleaners, featuring biodegradable formulations. The company, known for its specialty chemistries, utilizes its ISO 9001:2015 certified facilities to produce these products, further expanding its portfolio in industrial and consumer markets.

Flotek Industries, Inc. (NYSE: FTK) has announced its schedule for the release of its fourth quarter and full-year 2020 results. Investors can expect a press release with financial details after market close on March 10, 2021. An earnings conference call is planned for March 11, 2021, at 9:00 a.m. CST. The timing may be affected by recent winter weather conditions. Flotek operates in specialty chemistry and data technology, serving various markets including energy and consumer products.

Flotek Industries reported third quarter 2020 revenues of $12.7 million, a 43.5% increase from the previous quarter but down from $21.9 million YoY. The company faced challenges due to the pandemic and a volatile oil market, resulting in a loss from continuing operations of $45.2 million, or $0.66 per share. Major impairment charges totaled $24.2 million in the Data Analytics segment. Flotek has diversified its portfolio, including the acquisition of JP3 and enhanced sanitizing product lines. The firm is focusing on cost reductions and international growth, aiming to improve financial stability.

Flotek Industries welcomes Michael Fucci to its Board of Directors, bringing nearly 40 years of experience from Deloitte. Fucci previously served as Executive Chairman and Chief Operating Officer at Deloitte Consulting, where he led the Human Capital Practice to significant growth. Chairman John W. Gibson, Jr. expressed confidence that Fucci will enhance the company's focus on diversity, inclusion, and shareholder value. Fucci aims to contribute to Flotek’s growth in the specialty chemistry and data technology sectors, emphasizing his commitment to the innovation-driven environment at Flotek.

Flotek Industries, Inc. (NYSE: FTK) announced the postponement of its third quarter 2020 earnings results, originally set for November 9, 2020, due to ongoing COVID-19 market conditions impacting oil and gas demand. The Company will conduct an impairment analysis of long-lived assets in its Data Analytics segment as of September 30, 2020. New earnings will now be released after market close on November 16, 2020, with a conference call scheduled for November 17, 2020, at 11:00 a.m. CST.

Flotek Industries, Inc. (NYSE: FTK) announced its schedule for releasing third quarter 2020 results on November 9, 2020, following market close. The earnings conference call is set for November 10, 2020, at 9:00 a.m. CST. The Company specializes in specialty chemistry and technology solutions for various markets, including the energy sector. Further details and updates can be found on the official website.

Flotek Industries, Inc. (NYSE: FTK) announces the appointment of Harsha V. Agadi to its Board of Directors, where he will lead the Compensation Committee. Agadi brings over 30 years of executive experience from various Fortune 50 companies. His notable past roles include CEO positions at Crawford & Company, Friendly's Ice Cream, and Church's Chicken. Chairman John W. Gibson, Jr. emphasized Agadi's expected contributions to Flotek's new sanitizer and surface cleaning business, leveraging his insights from the food service sector.