Published on 7 Oct 2024 on GuruFocus.com · via Yahoo Finance
Flotek Industries Inc (FTK) Q2 2024 Earnings Call Highlights: Strong Revenue...
Revenue: $46 million, a sequential increase of 14%.External Customer Chemistry Sales: Up 40% from Q1 2024.Data Analytics Segment Revenue: Increased 22% quarter-over-quarter.Gross Profit: $9.2 million, a 136% increase compared to Q2 2023.Gross Profit Margin: 20%, with an adjusted gross profit margin of 23%.SG&A Costs: Declined to $6.3 million, a 25% improvement from the previous year.Adjusted EBITDA: Increased by $6.4 million compared to Q2 2023, with a 10% sequential growth.Debt to Trailing 12-Month Adjusted EBITDA Ratio: 0.4x as of June 30.Adjusted EBITDA Guidance for 2024: Increased to a range of $14 million to $18 million, a 23% increase at the midpoint.Adjusted Gross Profit Margin Guidance for 2024: Expected to be between 18% and 22%.
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