Flotek Industries (NYSE:FTK) released its quarterly earnings results on Tuesday. The oil and gas company reported $0.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.03, Yahoo Finance Previews reports. Flotek Industries had a negative return on equity of 1.64% and a negative net margin of 10.41%. The company had revenue of $72.50 million for the quarter, compared to analysts’ expectations of $72.85 million. During the same period in the previous year, the business posted $0.07 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year.
Shares of Flotek Industries (NYSE:FTK) traded up $0.06 during mid-day trading on Tuesday, reaching $5.59. The company had a trading volume of 1,156,353 shares, compared to its average volume of 1,141,021. Flotek Industries has a 1-year low of $4.14 and a 1-year high of $14.51. The company has a market capitalization of $320.50, a PE ratio of -279.50 and a beta of 1.77.
Separately, Zacks Investment Research upgraded Flotek Industries from a “sell” rating to a “hold” rating in a report on Saturday, January 20th.
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Flotek Industries Company Profile
Flotek Industries, Inc is a technology-driven company. The Company develops and supplies chemistry and services to the oil and gas industries, and compounds to companies that make cleaning products, cosmetics, food and beverages, and other products that are sold in consumer and industrial markets. The Company operates through two segments: Energy Chemistry Technologies (ECT), and Consumer and Industrial Chemistry Technologies (CICT).
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