The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Flotek Industries missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded slightly. Non-GAAP earnings per share grew significantly. GAAP earnings per share expanded significantly.
Gross margins dropped, operating margins shrank, net margins grew.
Flotek Industries logged revenue of $76.7 million. The five analysts polled by S&P Capital IQ anticipated a top line of $78.9 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 $0.44. The five earnings estimates compiled by S&P Capital IQ predicted $0.17 per share. Non-GAAP EPS of $0.44 for Q4 were much higher than the prior-year quarter's $0.02 per share. GAAP EPS of $0.41 for Q4 were much higher than the prior-year quarter's $0.02 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 40.8%, 150 basis points worse than the prior-year quarter. Operating margin was 13.9%, 690 basis points worse than the prior-year quarter. Net margin was 30.2%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $80.5 million. On the bottom line, the average EPS estimate is $0.19.
Next year's average estimate for revenue is $339.2 million. The average EPS estimate is $0.88.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 756 members out of 789 rating the stock outperform, and 33 members rating it underperform. Among 146 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 136 give Flotek Industries a green thumbs-up, and 10 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 $15.83.
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