FTK - Flotek Industries: Drilling Down To Value
Investors clearly expressed dissatisfaction with results reported by Flotek Industries (FTK) for Q2 2019 with reported revenue of $34.7 million and loss from operations of $13.9 million. Beyond quarterly results, the response from investors was also likely influenced by management commentary on the Q2 earnings conference call that the company plans to utilize its strong cash position to potentially make accretive acquisitions. The announcement followed a comprehensive study of the business by a board-appointed Strategic Capital Committee as well as research provided by Citi’s energy team located in Houston.
The Strategic Capital Committee