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An update from Flotek ( (FTK) ) is now available.
Flotek Industries, Inc. has announced strong financial results for the third quarter of 2024, highlighting a 5% increase in total revenue to $49.7 million compared to the previous year. The company reported a 97% rise in net income to $2.5 million, driven by a significant boost in its Data Analytics segment, which saw a 58% year-over-year revenue increase. Flotek also reduced its SG&A expenses and outstanding borrowings, setting the stage for increased profit guidance for 2024, reflecting continued positive momentum and strategic execution.
For detailed information about FTK stock, go to TipRanks’ Stock Analysis page.
