Shares of Flotek Industries Crater After Earnings Report

Shares of Flotek Industries Crater After Earnings Report

Shares of Flotek Industries (NYSE: FTK) are cratering today, down a whopping 36% as of 12:38 p.m. EDT, after the company reported earnings that missed expectations. 

The chemicals specialist reported revenue of $85.2 million and a per-share loss of $0.07 in the second quarter. If we strip out losses for its discontinued operations, then Flotek's loss would have been $0.02 per share. Wall Street analysts were expecting $88.9 million in revenue and net income of $0.04 per share.

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Source: Fool.com