Flotek reports Q2 EPS 6c, consensus 7c

Reports Q2 revenue $46.15M, consensus $46.07M. CEO Ryan Ezell commented, “Despite a backdrop of slower North American activity in our industry, our ability to grow revenue 14% this quarter speaks to the execution of our strategy and the continued progress we are making in gaining market share. Q2 revenue from external customers increased significantly following the seasonality we experienced in the Q1. Our Data Analytics segment increased revenue 22% from the first quarter 2024 as we saw a sequential improvement in analyzer sales. Most importantly, we received notification from the EPA that our JP3 analyzer was an approved technology for flare gas monitoring, which we believe will be a catalyst for revenue growth later this year and into 2025.”