Flotek Industries Whiffs on Earnings
Flotek Industries (NYS: FTK) reported earnings on Wednesday. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Flotek Industries missed slightly on revenues and whiffed on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly, and GAAP earnings per share improved.
Margins expanded across the board.
Flotek Industries chalked up revenue of $74.9 million. The four analysts polled by S&P Capital IQ looked for revenue of $76.3 million on the same basis. GAAP reported sales were 58% higher than the prior-year quarter's $47.5 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 $0.02. The three earnings estimates compiled by S&P Capital IQ predicted $0.15 per share. GAAP EPS were $0.02 for Q4 compared to -$0.94 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 42.3%, 530 basis points better than the prior-year quarter. Operating margin was 20.8%, 760 basis points better than the prior-year quarter. Net margin was 1.3%, 5,740 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $77.9 million. On the bottom line, the average EPS estimate is $0.18.
Next year's average estimate for revenue is $330 million. The average EPS estimate is $0.89.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 760 members rating the stock outperform and 35 members rating it underperform. Among 181 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 171 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 $16.50.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.