Flotek Industries Aktie

The Puerto Rico Electric Power Authority (PREPA) has terminated the Power Purchase and Operating Agreement (PPOA) with Flotek Industries with immediate effect. PREPA cited the consortium’s failure to provide the required contract performance bond on time, as well as an instruction from the Financial Oversight and Management Board, as reasons. Flotek had not yet recorded any revenues or deliveries under the contract; the company therefore does not expect any change to its 2026 guidance, since that guidance did not include contributions from the PREPA contract. The news pushed the stock sharply lower, although Flotek remains substantially up year-on-year and Q2 results beat expectations. » Más en de.investing.com

At EnerCom Denver, Flotek presented its strategic shift from a commodity-dependent chemical supplier to a data-as-a-service and chemical platform that increases recurring revenue and margins. Q2 2026 delivered about $100 million in revenue (up ~70% year/year), strong growth in gross profit, net income and adjusted EBITDA; the backlog of recurring revenue orders exceeded $500 million and now contributes more than half of gross profit. Key drivers are real-time data analytics, international chemical contracts and the PWRtek platform for distributed power generation, while implementation risks in new markets and foreign supply-chain issues remain. » Más en de.investing.com

The Puerto Rico Electric Power Authority (PREPA) instructed consortium partners, including Flotek, to suspend work on the 400-megawatt project at the Aguirre power plant until further notice after the Fiscal and Management Control Board ordered PREPA to terminate the contract. Flotek had signed a ten-year supply agreement in early August and assumed project responsibility on July 31, but is now facing questions about the authorization of certain signatures. Flotek has not yet received a formal termination; further involvement depends on resolution of the contract issue, fulfillment of contractual conditions, financing and regulatory approvals. The company is maintaining its 2026 guidance and notes that a short seller published accusations against Flotek over the weekend. » Más en de.investing.com