Yahoo Finance Flotek Industries First Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag
Flotek Industries (NYSE:FTK) First Quarter 2024 Results
Key Financial Results
Revenue: US$40.4m (down 16% from 1Q 2023).
Net income: US$1.56m (down 93% from 1Q 2023).
Profit margin: 3.9% (down from 45% in 1Q 2023).
EPS: US$0.053 (down from US$1.30 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Flotek Industries EPS Beats Expectations, Revenues Fall Short
Revenue missed analyst estimates by 10%. Earnings per share (EPS) exceeded analyst estimates by 25%.
Looking ahead, revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 4.9% growth forecast for the Chemicals industry in the US.
Performance of the American Chemicals industry.
The company's shares are up 2.6% from a week ago.
Risk Analysis
It is worth noting though that we have found 3 warning signs for Flotek Industries (2 are potentially serious!) that you need to take into consideration.
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