Flotek Industries shares rose 17.2% in premarket trading to $29.11 after the company reported its third-quarter 2026 results following Monday’s market close. Revenue reached $114.4 million, the highest quarterly total in 12 years and 104% above the same period a year earlier. Earnings per share came in at $0.34, beating the $0.21 consensus cited in the report by $0.13.
The company raised its 2026 revenue forecast to $382 million-$390 million, from $360 million-$370 million. Its adjusted EBITDA outlook also increased, to $59 million-$62 million from $50 million-$54 million.
Both Chemistry Technologies and Data Analytics posted year-over-year revenue growth of 104%. International Chemistry revenue rose to $28.4 million from $2.2 million a year earlier, which the company attributed to growing demand from the Middle East. Adjusted EBITDA almost doubled to $19.5 million, compared with $10.4 million in the third quarter of 2025.
Flotek said revenue, net income and adjusted EBITDA had increased in every quarter of 2026. However, GAAP net income declined year over year, largely because the prior-year quarter included a one-time non-cash tax benefit. The company filed a Form 8-K on November 3 to disclose the results. Its third-quarter earnings call was scheduled for 9 a.m. CT on Tuesday.
Sources: Investing.com News.