The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Flotek Industries missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue increased and GAAP earnings per share dropped significantly.
Gross margins increased, operating margins shrank, net margins dropped.
Flotek Industries logged revenue of $78.6 million. The four analysts polled by S&P Capital IQ hoped for sales of $84.7 million on the same basis. GAAP reported sales were 4.8% higher than the prior-year quarter's $75.1 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.19. The four earnings estimates compiled by S&P Capital IQ predicted $0.21 per share. GAAP EPS of $0.19 for Q3 were 46% lower than the prior-year quarter's $0.35 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 43.0%, 210 basis points better than the prior-year quarter. Operating margin was 18.6%, 290 basis points worse than the prior-year quarter. Net margin was 12.5%, 1,140 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $85.5 million. On the bottom line, the average EPS estimate is $0.22.
Next year's average estimate for revenue is $327.7 million. The average EPS estimate is $0.75.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 753 members out of 784 rating the stock outperform, and 31 members rating it underperform. Among 155 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 144 give Flotek Industries a green thumbs-up, and 11 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Flotek Industries is buy, with an average price target of $17.00.
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