Flotek raises 2024 EBITDA guidance to $14-18M; Q2 net income $2.0M vs loss a year ago

FLOTEK INDUSTRIES INC/CN/

2024-Q2 EPS reported $0.12 revenue$86,526,000

Q2 2024 revenue $46.2M, down 9% YoY; net income $2.0M ($0.06 diluted EPS) vs net loss $21K.
Adjusted EBITDA $4.4M, up $6.4M YoY; raised 2024 adjusted EBITDA guidance to $14-18M (midpoint $16M).
Chemistry revenue from external customers up 40% sequentially; Data Analytics revenue up 22% sequentially.
EPA approved JP3 analyzer for flare emission monitoring, unlocking ~$220M annual TAM upstream.
ABL loan commitment increased 45% to $20M, interest rate spread lowered 0.50%, maturity extended to Aug 2026.

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