Flotek Industries Inc reports results for the quarter ended June 30 - Earnings Summary

• Flotek Industries Inc FTK.N reported quarterly adjusted earnings of 16 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 6 cents. The mean expectation of five analysts for the quarter was for earnings of 14 cents per share. Wall Street expected results to range from 9 cents to 17 cents per share.

• Revenue rose 26.4% to $58.35 million from a year ago; analysts expected $53.03 million.

• Flotek Industries Inc's reported EPS for the quarter was 5 cents​.

• The company reported quarterly net income of $1.77 million.

• Flotek Industries Inc shares had fallen by 20.8% this quarter and gained 22.7% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 0.2% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy," 1 "hold" and no "sell" or "strong sell." The average consensus recommendation for the specialty chemicals peer group is also "buy"

• Wall Street's median 12-month price target for Flotek Industries Inc is $17.00, about 30% above its last closing price of $11.90

This summary was machine generated from LSEG data August 5 at 10:21 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)