Flotek Industries, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 08, 2023 at 04:11 pm EDT
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Flotek Industries, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 50.59 million compared to USD 29.37 million a year ago. Revenue was USD 50.59 million compared to USD 29.37 million a year ago. Net loss was USD 0.021 million compared to net income of USD 6.24 million a year ago. Diluted loss per share from continuing operations was USD 0.12 compared to USD 0.3 a year ago.
For the six months, sales was USD 98.6 million compared to USD 42.25 million a year ago. Revenue was USD 98.6 million compared to USD 42.25 million a year ago. Net income was USD 21.32 million compared to net loss of USD 4.48 million a year ago. Basic earnings per share from continuing operations was USD 1.08 compared to basic loss per share from continuing operations of USD 0.36 a year ago. Diluted loss per share from continuing operations was USD 0.24 compared to USD 0.72 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. 
