Flotek Inds Inc Del - FTK STOCK NEWS

Flotek Industries (NYSE: FTK) has appointed Leon Chad as Senior Vice President, Commercial, effective June 3, 2024. Mr. Chad replaces the previous SVP of Global Business Lines, who left in March 2024. Bringing over 30 years of experience in the energy and chemistry sectors, Chad's expertise is expected to help Flotek enhance its market share and strategic initiatives. His prior roles include leadership positions at Baker Hughes, Locus Fermentation Solutions, Clariant Oil Services, and Nalco Energy Services. Fluent in Arabic and French, Chad holds a Maitrise es Sciences in chemistry from the Lebanese University. Flotek, a technology-driven company focusing on green chemistry and data analytics, operates in over 59 countries.

Flotek announced the resignation of David Nierenberg from its Board of Directors, effective May 24, 2024. Nierenberg's six-year tenure significantly contributed to the company's turnaround, with annual revenues more than quadrupling since 2021 and achieving the first profitable year since 2017. Both Harsha V. Agadi, Chairman of the Board, and Ryan Ezell, CEO, praised Nierenberg for his leadership and strategic insights. The company noted that Nierenberg's governance expertise and mentorship were pivotal in restoring Flotek's position as a leading provider of sustainable chemistry and data solutions. The Board expressed best wishes for his future endeavors.

Flotek Industries, Inc. announced improved profitability in Q1 2024 with significant growth in gross profit and adjusted EBITDA. Net income increased by $10.8 million compared to Q1 2023, excluding non-cash gains. The company expects a boost in margins and adjusted EBITDA for 2024, following cost reductions in 2023. CEO Dr. Ryan Ezell highlighted positive financial trends and revenue growth in various segments, emphasizing resilience and profitability.

Flotek Industries, Inc. (FTK) announced its schedule for releasing first quarter 2024 financial results, set for May 7, 2024. The earnings conference call will be held on May 8, 2024, at 9:00 a.m. CST.

Flotek Industries, Inc. (NYSE: FTK) reported positive financial results for Q4 and full-year 2023, with significant improvements in profitability metrics. The company achieved its first positive adjusted EBITDA since 2017, showing a year-over-year improvement in net income, gross profit, and adjusted gross profit. Full-year highlights include a $67.0 million increase in net income, year-over-year improvements in gross profit, adjusted gross profit, and adjusted EBITDA, a 38% revenue increase compared to 2022, and strong growth in the data analytics segment. Flotek also strengthened liquidity through an up to $13.8 million Asset Based Loan and made key leadership appointments.

Flotek Industries, Inc. appoints Amy Blakeway as Senior Vice President, General Counsel, bringing over a decade of legal experience in the energy sector to strengthen the leadership team. The move aims to drive market share gains through differentiated chemistry and data solutions, supporting the Company's growth strategy. CEO Ryan Ezell welcomes Amy's expertise, highlighting her leadership qualities and deep industry understanding.

Flotek Industries, Inc. (FTK) announced its schedule for releasing fourth quarter and year-end 2023 financial results, with the press release set for March 12, 2024, and the earnings conference call on March 13, 2024.

Flotek Industries, Inc. (FTK) announced their participation in the 36th Annual Roth Conference, with CEO Ryan Ezell and CFO Bond Clement engaging in panel discussions and one-on-one meetings with investors. An updated corporate presentation will be available on the company's website before the event.

Flotek Industries, Inc. (NYSE: FTK) reports significant improvement in profitability metrics, with net income of $1.3 million and positive adjusted EBITDA of $3.4 million for the third quarter of 2023. Total revenues for the quarter were $47.3 million, showing a 4% increase from the same period in 2022. The company also updated its full year 2023 guidance, expecting an increase in adjusted gross profit margin and total revenues of $185 million to $200 million.