Reuters logo
BRIEF-Flotek Industries provides update on third quarter expectations
September 25, 2017 / 9:53 PM / 3 months ago

BRIEF-Flotek Industries provides update on third quarter expectations

Sept 25 (Reuters) - Flotek Industries Inc

* Flotek IndustrieS provides update on third quarter expectations

* Flotek Industries inc - ‍estimates third-quarter revenues will be approximately $5.0 million less than previously expected​

* Flotek Industries Inc - Florida citrus crops have suffered damages related to hurricane irma passing over primary domestic growing region

* Flotek Industries Inc - ‍estimates third-quarter incremental costs will increase by less than $1.0 million as compared to previous expectations​

* Flotek Industries Inc- at this time, early indications are that total crop losses of 40 to 50 percent have occurred

* Flotek Industries Inc - Flotek expects damages from irma to delay raw material price reductions that were initially expected prior to storm

* Flotek Industries Inc- shortages of certain raw materials supplied by third-party vendors further impacted client activity during q3

* Flotek Industries - due to storms harvey, irma, some chemical suppliers to co declared force majeure which impacted client drilling, completion activity

* Flotek Industries Inc - issues due to Harvey, Irma are expected primarily to impact the energy chemistry technologies segment Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below