Flotek Industries, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
March 12, 2024 at 04:02 pm EDT
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Flotek Industries, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 42.19 million compared to USD 48.22 million a year ago. Revenue was USD 42.19 million compared to USD 48.22 million a year ago. Net income was USD 2.11 million compared to net loss of USD 19.03 million a year ago. Basic earnings per share from continuing operations was USD 0.07 compared to basic loss per share from continuing operations of USD 1.51 a year ago. Diluted earnings per share from continuing operations was USD 0.07 compared to diluted loss per share from continuing operations of USD 1.51 a year ago.
For the full year, the company reported sales was USD 188.06 million compared to USD 136.09 million a year ago. Revenue was USD 188.06 million compared to USD 136.09 million a year ago. Net income was USD 24.71 million compared to net loss of USD 42.31 million a year ago. Basic earnings per share from continuing operations was USD 1 compared to basic loss per share from continuing operations of USD 3.41 a year ago. Diluted loss per share from continuing operations was USD 0.1 compared to USD 3.41 a year ago.
Flotek Industries, Inc. is a technology-driven, specialty green chemistry and data company. The Companyâs segments include Chemistry Technologies and Data Analytics. The Companyâs Chemistry Technologies segment designs, develops, manufactures, packages and distributes green, specialty chemicals that help customers improve their return on invested capital, lower operational costs and realize tangible environmental benefits aimed at enhancing the profitability of hydrocarbon producers. The Companyâs Data Analytics segment provides analytics associated with their hydrocarbon streams in seconds rather than minutes or days. The real-time access to information prevents waste, reduces reprocessing and allows users to pursue automation of their hydrocarbon streams to increase their profitability. It helps customers across industrial and commercial markets improve their environmental performance. It serves specialty chemistry needs for both domestic and international energy markets.
FLOTEK INDUSTRIES, INC. 
