Barrington Research Expects Strong Fourth Quarter Revenue for Flotek Industries

In a report published Wednesday, Barrington Research analyst Rudolf A. Hokanson reiterated a Market Perform rating on

. In the report, Barrington Research noted, “We continue to rate Flotek Industries as a MARKET PERFORM. FTK announced select, preliminary fourth quarter financial results and provided the schedule for fourth quarter earnings release and conference call. FTK's management said that their revenue in the fourth quarter will exceed $122 million. Consensus is $121 million. We were at $126.2 million. The company expects its Energy Chemistry Technologies segment revenue to exceed $74 million. This is the segment that reflects CnF® sales. We have been estimating $75.7 million for this segment. FTK also said that the Drilling Technology segment revenues will be greater than $31 million and we have been estimating $30.7 million.” Flotek Industries closed on Tuesday at $17.63.