Flotek Industries (NYSE:FTK) posted its quarterly earnings results on Tuesday. The oil and gas company reported $0.00 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.03, Yahoo Finance Previews reports. Flotek Industries had a negative net margin of 10.41% and a negative return on equity of 1.64%. The business had revenue of $72.50 million during the quarter, compared to analyst estimates of $72.85 million. During the same quarter in the previous year, the business posted $0.07 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year.
Flotek Industries (NYSE FTK) traded up $0.06 during trading hours on Tuesday, hitting $5.59. 1,156,353 shares of the stock traded hands, compared to its average volume of 1,141,021. Flotek Industries has a twelve month low of $4.14 and a twelve month high of $14.51. The company has a market cap of $320.50, a price-to-earnings ratio of -279.50 and a beta of 1.77.
Separately, Zacks Investment Research upgraded shares of Flotek Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 9th.
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About Flotek Industries
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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