Flotek Industries, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 08, 2022 at 05:30 pm EST
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Flotek Industries, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported Revenue was USD 45.62 million compared to USD 10.18 million a year ago. Net loss was USD 18.79 million compared to net income of USD 0.509 million a year ago. Basic loss per share from continuing operations was USD 0.25 compared to basic earnings per share from continuing operations of USD 0.01 a year ago. Diluted loss per share from continuing operations was USD 0.25 compared to diluted earnings per share from continuing operations of USD 0.01 a year ago.
For the nine months, Revenue was USD 87.87 million compared to USD 31.11 million a year ago. Net loss was USD 23.28 million compared to USD 14.34 million a year ago. Basic loss per share from continuing operations was USD 0.31 compared to USD 0.21 a year ago. Diluted loss per share from continuing operations was USD 0.31 compared to USD 0.21 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. 
