Flotek Industries up on Q2 revenue forecast
20/07/2022 14:13
** Shares of green chemistry and data analytics firm Flotek
Industries FTK.N up 7.9% at $1.08 in premarket
** Co expects to post Q2 revenue in excess of $28 mln vs
$9.2 mln in year-ago qtr urn:newsml:reuters.com:*:nPn88b8bPa
** FTK expects to service an average of 16 or greater
ProFrac hydraulic fracturing fleets in Q3
** Co says well on pace to reach full fleet adoption per the
Profrac/Flotek contract by the beginning of 2023
** Flotek expects to generate positive adjusted EBITDA
excluding convertible notes amortization before the end of Q4
2022
** As of last close, FTK shares down 10.6% YTD
(Reporting by Aatrayee Chatterjee in Bengaluru)
((Aatrayee.Chatterjee@thomsonreuters.com;))