The 10-second takeaway
For the quarter ended March 31 (Q1), Flotek Industries met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue shrank slightly. GAAP earnings per share expanded significantly.
Gross margins shrank, operating margins contracted, net margins grew.
Flotek Industries recorded revenue of $78.2 million. The three analysts polled by S&P Capital IQ expected to see revenue of $78.4 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 $0.15. The five earnings estimates compiled by S&P Capital IQ anticipated $0.17 per share. GAAP EPS of $0.15 for Q1 were 114% higher than the prior-year quarter's $0.07 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 41.7%, 50 basis points worse than the prior-year quarter. Operating margin was 16.0%, 510 basis points worse than the prior-year quarter. Net margin was 9.9%, 530 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $82.2 million. On the bottom line, the average EPS estimate is $0.20.
Next year's average estimate for revenue is $338.8 million. The average EPS estimate is $0.89.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 749 members out of 782 rating the stock outperform, and 33 members rating it underperform. Among 131 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 121 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 $19.13.
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