Flotek Industries, Inc. (NYSE:FTK), an energy technology company, saw its shares surge Monday after securing a 10-year agreement tied to a 400-megawatt Puerto Rico power project.
Contract Adds $400 Million Revenue Backlog
Flotek expects the agreement to generate about $400 million in revenue backlog. The revenue will come from equipment rentals and deployment of its proprietary PWRtek systems.
The company expects annual revenue to reach about $40 million at full deployment.
Flotek is partnering with Power Expectations LLC, which is leading the Emergency Temporary Power Generation Puerto Rico project.
PWRtek Platform Supports 400-Megawatt Project
Flotek will supply up to 40 megawatts of generation capacity and six pairs of smart conditioning and distribution skids.
The systems will manage fuel, regulate pressure, and provide real-time analytics and engine optimization across the 400-megawatt project.
Support equipment deployment is expected in the fourth quarter of 2026, with initial generation equipment and skids due by the end of the first quarter of 2027.
"This contract exemplifies the execution of our corporate strategy and strengthens the momentum of Flotek’s industrialized pivot to a data-driven technology leader," CEO Ryan Ezell said.
Ezell said the project expands PWRtek beyond oil and gas and supports Flotek’s shift toward recurring, high-margin revenue.
FTK Stock: Key Levels To Watch
FTK remains in a long-term uptrend, trading above its 20-day, 50-day, 100-day and 200-day SMAs.
The 20-day SMA is above the 50-day SMA, and the 50-day SMA is above the 200-day SMA—two bullish crossover signals that typically show an uptrend is intact across multiple timeframes.
Momentum is more "reset than stretched" right now, with RSI at 47.17, which is a neutral reading that suggests the stock isn’t overbought even after the premarket pop.
- Key Resistance: $28.50, near the July 52-week high, where selling pressure may emerge.
- Key Support: $21.00, a nearby floor if the post-news rally fades
Flotek Earnings Preview: August 2026 Estimates
Flotek Industries to report earnings on August 4, 2026 (confirmed).
- EPS Estimate: 12 cents (Down from 16 cents YoY)
- Revenue Estimate: $68.97 million (Up from $58.35 million YoY)
- Valuation: P/E of 29.8x (Indicates premium valuation relative to peers)
Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price forecast of $40.00. Recent analyst moves include:
- Jones Trading: Initiated with Buy (Target $40.00) (July 9)
- Northland Capital Markets: Outperform (Maintains Target $20.00) (Dec. 31, 2025)
FTK Stock Price Movement
FTK Stock Price Activity: Flotek Industries shares were up 9% at $25.67 at the time of publication on Monday, according to Benzinga Pro data.
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