Group 1: Momentum Investing Overview - Momentum investing involves following a stock's recent trend, with the aim of buying high and selling higher, capitalizing on established price movements [1] - The Zacks Momentum Style Score helps investors identify stocks with momentum by focusing on key metrics [2] Group 2: Flotek Industries (FTK) Analysis - Flotek Industries currently holds a Momentum Style Score of B and a Zacks Rank of 2 (Buy), indicating strong potential for outperformance [3][4] - FTK shares have increased by 11.01% over the past week, outperforming the Zacks Oil and Gas - Field Services industry, which rose by 7.8% [7] - Over the last quarter, FTK shares have surged by 110.47%, and over the past year, they have gained 120.94%, significantly outperforming the S&P 500's increases of 7.52% and 33.61% respectively [8] Group 3: Trading Volume and Earnings Outlook - FTK's average 20-day trading volume is 222,564 shares, which is a useful indicator of market interest and can signal bullish or bearish trends [9] - In terms of earnings outlook, FTK's consensus estimate has risen from $0.27 to $0.29 over the past 60 days, with one upward revision for the current fiscal year and none downward [11] - Given these factors, FTK is positioned as a promising stock for near-term gains, supported by its Momentum Score of B [12]

Core Viewpoint - The article emphasizes the importance of identifying and maintaining stock price trends for successful short-term investing, highlighting the utility of a specific screening strategy to find stocks with strong fundamentals and positive momentum [1][2]. Group 1: Stock Screening Strategy - The "Recent Price Strength" screen is designed to identify stocks with sufficient fundamental strength to sustain their recent upward trends, focusing on those trading in the upper portion of their 52-week high-low range, indicating bullishness [3]. - Flotek Industries (FTK) is highlighted as a candidate that passed the screening, showing a significant price increase of 91.3% over the past 12 weeks, reflecting investor confidence in its potential upside [4]. - FTK has also experienced a price increase of 65.5% over the last four weeks, confirming that the upward trend is still intact [5]. Group 2: Fundamental Analysis - FTK holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, which are critical for near-term price movements [6]. - The stock has an Average Broker Recommendation of 1 (Strong Buy), indicating high optimism from the brokerage community regarding its near-term price performance [7]. - The article suggests that the price trend for FTK is likely to continue without reversal in the near future, supported by its strong fundamentals [8].

Company Overview - Flotek Industries (FTK) currently holds a Momentum Style Score of A, indicating strong momentum characteristics [2] - The company has a Zacks Rank of 2 (Buy), suggesting a favorable outlook compared to the market [3] Price Performance - FTK shares have increased by 0.6% over the past week, while the Zacks Oil and Gas - Field Services industry has declined by 2.11% during the same period [5] - Over the past quarter, FTK shares have risen by 62.09%, and they are up 74.25% over the last year, significantly outperforming the S&P 500, which has moved 13.08% and 38.58% respectively [6] Trading Volume - FTK's average 20-day trading volume is 112,773 shares, which serves as a price-to-volume baseline for assessing momentum [7] Earnings Outlook - In the past two months, one earnings estimate for FTK has increased, while none have decreased, raising the consensus estimate from $0.27 to $0.29 [9] - For the next fiscal year, one estimate has moved upwards with no downward revisions, indicating positive earnings momentum [9]

Core Viewpoint - The article emphasizes the importance of confirming the sustainability of stock trends for successful short-term investing, highlighting that price movements should be supported by strong fundamentals and positive earnings estimates. Group 1: Stock Performance - Flotek Industries (FTK) has shown a solid price increase of 51.2% over the past 12 weeks, indicating strong investor interest in the stock [4] - FTK has also experienced a price increase of 35% over the last four weeks, suggesting that the upward trend is still intact [5] - The stock is currently trading at 96.3% of its 52-week high-low range, indicating a potential breakout [5] Group 2: Fundamental Strength - FTK holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises [6] - The Average Broker Recommendation for FTK is 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term price performance [7] - The Zacks Rank stock-rating system has a strong historical performance, with Zacks Rank 1 stocks averaging an annual return of +25% since 1988 [7] Group 3: Investment Strategy - The "Recent Price Strength" screen is a useful tool for identifying stocks like FTK that are on an uptrend supported by strong fundamentals [3] - Investors are encouraged to explore other stocks that meet similar criteria and consider various Zacks Premium Screens tailored to different investing styles [8] - The effectiveness of stock-picking strategies can be backtested using the Zacks Research Wizard, which includes successful stock-picking strategies [9]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANG ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANG ACT OF 1934 For the transition period from to Commission File Number 1-13270 FLOTEK INDUSTRIES, INC. (Exact name of registrant as specified in its charter) Delaware 90-0023731 (State of other jurisdiction of in ...

Flotek Industries (FTK) came out with quarterly earnings of $0.08 per share, beating the Zacks Consensus Estimate of $0.07 per share. This compares to earnings of $0.04 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 14.29%. A quarter ago, it was expected that this oilfield services company would post earnings of $0.06 per share when it actually produced earnings of $0.06, delivering no surprise.Over the last four quarters, th ...

Financial Performance - Flotek reported total revenues of $49.7 million for Q3 2024, a 5% increase from Q3 2023, driven by a 58% year-over-year increase in Data Analytics revenues[3]. - Net income for Q3 2024 was $2.5 million, representing a 97% increase compared to $1.3 million in Q3 2023, with diluted earnings per share of $0.08[7]. - Adjusted EBITDA for Q3 2024 was $4.8 million, a 43% increase from $3.4 million in Q3 2023, marking the eighth consecutive quarter of improvement[9]. - Flotek has increased its 2024 adjusted EBITDA guidance to a range of $16.5 million to $18.5 million, up from the previous range of $14 million to $18 million, reflecting a 35% increase compared to the original guidance[4]. - Revenue from the Data Analytics segment grew 30% in Q3 2024, with new applications contributing significantly to this growth[6]. - Flotek's gross profit for Q3 2024 was $9.1 million, with a gross profit margin of 18%, slightly down from 19% in Q3 2023[7]. - Adjusted gross profit for Q3 2024 was $10.7 million, compared to $10.3 million in Q3 2023[7]. - Gross profit for the three months ended September 30, 2024, was $9,119 thousand, slightly up from $9,047 thousand in the same period last year[15]. - Gross profit for the nine months ended September 30, 2024, was $27,108,000, compared to $14,833,000 for the same period in 2023, representing an increase of 82.6%[18]. - Adjusted EBITDA for the nine months ended September 30, 2024, was $13,303,000, compared to a loss of $2,464,000 for the same period in 2023, indicating a significant turnaround[18]. - Adjusted gross profit for the nine months ended September 30, 2024, was $31,421,000, compared to $18,005,000 for the same period in 2023, reflecting a growth of 74.7%[18]. Expenses and Cost Management - The company reduced SG&A expenses by 12% year-over-year, totaling $5.7 million in Q3 2024[3]. - Research and development expenses for the three months ended September 30, 2024, were $462 thousand, down from $757 thousand in the same period last year[15]. - Interest expense for the three months ended September 30, 2024, was $256,000, compared to $160,000 in the same period of 2023, indicating an increase of 60%[18]. - Payments on long-term debt for the nine months ended September 30, 2024, were $(135,000), compared to $(104,000) in the same period of 2023, showing a rise in debt servicing[17]. Cash Flow and Liquidity - Cash flows from operating activities for the nine months ended September 30, 2024, provided $5,925 thousand, compared to a use of $(9,248) thousand in the same period last year[16]. - Cash and cash equivalents at the end of the period on September 30, 2024, were $4,997,000, compared to $4,453,000 at the end of the same period in 2023[17]. - Cash and cash equivalents and restricted cash at the end of the period on September 30, 2024, totaled $5,098,000, compared to $4,555,000 at the end of the same period in 2023[17]. - Net cash used in investing activities for the nine months ended September 30, 2024, was $(457,000), a decrease from $(525,000) in the same period of 2023[17]. - Net cash provided by financing activities for the nine months ended September 30, 2024, was $(6,329,000), a decline from $1,925,000 in the same period of 2023[17]. Balance Sheet and Assets - Accounts receivable decreased to $12,220 thousand as of September 30, 2024, from $13,687 thousand at December 31, 2023[14]. - Total current assets increased to $86,293 thousand as of September 30, 2024, from $76,447 thousand at December 31, 2023[14]. - Total liabilities decreased to $51,642 thousand as of September 30, 2024, from $55,553 thousand at December 31, 2023[14]. - Total stockholders' equity increased to $109,007 thousand as of September 30, 2024, from $101,960 thousand at December 31, 2023[14]. - Proceeds from asset-based loans for the nine months ended September 30, 2024, were $122,600,000, compared to $27,750,000 in 2023, showing a substantial increase[17]. Other Notable Developments - Flotek expects further growth in flare monitoring revenues following the EPA's approval of its JP3 analyzer[6]. - Net income for the nine months ended September 30, 2024, was $6,068 thousand, a decrease of 73.1% compared to $22,609 thousand for the same period in 2023[16]. - The company reported a basic income per share of $0.09 for the three months ended September 30, 2024, compared to $0.04 for the same period in 2023[15].

Core Insights - Flotek Industries reported significant improvements in profitability metrics for Q3 2024 compared to Q3 2023, leading to an increase in 2024 profit guidance [1][4][5] Financial Performance - Total revenues for Q3 2024 were $49.7 million, a 5% increase from $47.3 million in Q3 2023, with Data Analytics revenues increasing by 58% year-over-year [2][3][7] - Gross profit for Q3 2024 was $9.1 million, with a gross profit margin of 18%, slightly down from 19% in Q3 2023 [2][7] - Net income for Q3 2024 was $2.5 million, or $0.08 per diluted share, compared to $1.3 million, or $0.04 per diluted share, in Q3 2023 [2][7] - Adjusted EBITDA for Q3 2024 was $4.8 million, a 43% increase from $3.4 million in Q3 2023 [2][7][22] Operational Highlights - Selling, General and Administrative (SG&A) expenses were reduced by 12% year-over-year and by 9% sequentially from Q2 2024, totaling $5.7 million in Q3 2024 [3][7] - The company reduced borrowings under its Asset Based Loan by 81% (or $6.1 million) compared to year-end 2023 [3] 2024 Guidance - Flotek increased its adjusted EBITDA guidance for 2024 to a range of $16.5 million to $18.5 million, up from the previous range of $14 million to $18 million, representing a 35% increase compared to the original guidance [4] - The adjusted gross profit margin for 2024 is now expected to be between 20% and 22%, up from the original guidance of 18% to 22% [4] Segment Performance - Revenue from the Data Analytics segment grew by 30% in Q3 2024, continuing a strong growth trend from the previous quarter [5] - The new flare monitoring application contributed 25% of total quarterly segment revenues in Q3 2024 [5]

HOUSTON, Oct. 7, 2024 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK) today announced the Company's schedule for releasing its third quarter 2024 financial and operating results for the period ended September 30, 2024. The Company plans to issue its third quarter 2024 financial and operating results press release after market close on Monday, November 4, 2024, and host its earnings conference call on Tuesday, November 5, 2024, at 9:00 a.m. CST (10:00 a.m. EST). Participants m ...

Flotek Industries (FTK) shares soared 9.5% in the last trading session to close at $5.17. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 11.1% gain over the past four weeks. The surge can be attributed to Flotek's specialization in green chemistry, which offers innovative solutions aimed at reducing the environmental impact of the energy sector. Governments and energy companies worldwide are increasingly focusing on reducing the ...