Flotek Industries Inc. Third Quarter Earnings Sneak Peek

Flotek Industries, Inc. (NYSE:FTK) will unveil its latest earnings on Wednesday, November 9, 2011. Flotek Industries is a global supplier of drilling and production related products and services to the oil and gas industry.

Flotek Industries, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 9 cents per share, a swing from net loss of 6 cents in the year earlier quarter. During the past three months, the average estimate has moved up from 8 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 9 cents during the last month. Analysts are projecting net income of 31 cents per share versus a loss of 67 cents last year.

Past Earnings Performance: The company missed estimates last quarter after beating forecasts in the prior two. In the second quarter, the company reported profit of 4 cents per share versus a mean estimate of net income of 5 cents per share. In the first quarter, the company beat estimates by 11 cents.

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A Look Back: In the second quarter, the company swung to a profit of $2.1 million (4 cents a share) from a loss of $6.2 million (28 cents) a year earlier, but missed analyst estimates. Revenue rose 79.4% to $55.9 million from $31.2 million.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 81.8%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose 93.3% from the year earlier quarter.

Competitors to Watch: Cameron Intl. Corp. (NYSE:CAM), Dril-Quip, Inc. (NYSE:DRQ), National-Oilwell Varco, Inc. (NYSE:NOV), Baker Hughes Incorporated (NYSE:BHI), Oil States Intl., Inc. (NYSE:OIS), Lufkin Industries, Inc. (NASDAQ:LUFK), FMC Technologies, Inc. (NYSE:FTI), Bolt Technology Corp. (NASDAQ:BOLT), Tesco Corporation (NASDAQ:TESO), and Newpark Resources, Inc. (NYSE:NR).

Stock Price Performance: During October 6, 2011 to November 3, 2011, the stock price had risen $2.26 (43%) from $5.25 to $7.51. The stock price saw one of its best stretches over the last year between June 24, 2011 and July 5, 2011 when shares rose for seven-straight days, rising 16.1% (+$1.23) over that span. It saw one of its worst periods between September 15, 2011 and September 22, 2011 when shares fell for six-straight days, falling 28.1% (-$1.72) over that span. Shares are up $2.06 (+37.8%) year to date.

(Source: Xignite Financials)

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