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Flotek Industries Inc  (FTK)
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Flotek Industries Inc's

Competitiveness


 

FTK Sales vs. its Competitors Q2 2022



Comparing the results to its competitors, Flotek Industries Inc reported Total Revenue increase in the 2 quarter 2022 by 220.49 % year on year.
The sales growth was above Flotek Industries Inc's competitors average revenue growth of 13.49 %, recorded in the same quarter.

List of FTK Competitors

With net margin of 21.24 % company achieved higher profitability than its competitors.

More on FTK Margin Comparisons



Revenue Growth Comparisons




Net Income Comparison


Flotek Industries Inc achieved net profit of $6.24 millions compare to net loss of $-6.55 millions recorded in same quarter a year ago.

<<  More on FTK Income Comparisons


Flotek Industries Inc's Comment on Competitors and Industry Peers


The ability to compete in the oilfield services industry and the consumer and industrial markets is dependent upon the Company’s ability to differentiate its products and services, provide superior quality and service, and maintain a competitive cost structure with sufficient raw material supplies. Activity levels in the oil field services industry are impacted by current and expected oil and natural gas prices, oil and natural gas drilling activity, production levels, and customer drilling and production designated capital spending. Domestic and international regions in which Flotek operates are highly competitive. The unpredictability of the energy industry and commodity price fluctuations create both increased risk and opportunity for the products and services of both the Company and its competitors.
Certain oil and natural gas service companies competing with the Company are larger and have access to more resources. Such competitors could be better situated to withstand industry downturns, compete on the basis of price, and acquire and develop new equipment and technologies, all of which could affect the Company’s revenue and profitability. Oil and natural gas service companies also compete for customers and strategic business opportunities. Thus, competition could have a detrimental impact upon the Company’s business.
The citrus-based terpene (d-limonene) is a major feedstock for many of the Company’s CnF® chemistries. In addition, the Company utilizes naturally derived terpenes from other sources and bio-based solvents from other natural sources when it determines the efficacy of such formulas is appropriate. The Company has the ability to purify these alternative solvents to ensure they meet Flotek’s rigorous environmental standards.
The Company’s Consumer and Industrial Chemistry Technologies segment faces competition from other citrus processors, flavor companies, and other solvent sources. Other terpenes and esters can provide an effective substitute to the Company’s citrus-based terpenes, although, without refinement and enhanced formulations efforts, are generally of lower quality. Such terpenes and esters can be cheaper than citrus terpenes, but, as noted above, can contain unfavorable characteristics and compounds that have varying degrees of toxicity and performance limitations. The Company’s chemistries are intended to replace these undesirable qualities. In addition, the segment’s flavor ingredients compete with synthetic and bio-engineered substitutes that are cheaper than natural flavors derived from citrus oils. These substitutes lack complexity and impact of the Company’s natural flavors and fragrances.



  

Overall company Market Share Q2 2022

Due to outstanding performance in Overall company, revenue grew by 220.49 % Flotek Industries Inc improved its market share, to approximate 0.05 %.




<<  More on FTK Market Share.
 
*Market share is calculated based on total revenue.


FTK's vs. Competition, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)


COMPANY NAME MARKET CAP
(in millions of $)
REVENUES
(in millions of $)
INCOME
(in millions of $)
EMPLOYEES
Flotek Industries Inc FTK 124.34 65.00 -20.00 363
Albemarle Corporation ALB 31,131 4,332.09 358.18 6,000
Ashland Global Holdings Inc. ASH 138 2,084.00 913.00 11,000
Advansix Inc. ASIX 939 1,936.80 195.76 1,340
Avient Corporation AVNT 2,791 5,017.50 250.70 0
Cabot Corporation CBT 3,629 4,113.00 176.00 4,300
The Chemours Company CC 3,932 6,933.00 881.00 7,000
Chase Corporation CCF 788 315.70 45.02 677
Celanese Corporation CE 9,858 9,565.00 1,973.00 7,658
Dupont De Nemours Inc. DD 25,518 15,138.00 1,933.00 34,250
Dow Inc. DOW 32,135 60,129.00 6,700.00 35,700
Eastman Chemical Co EMN 9,391 10,912.00 1,227.00 14,500
Fmc Corporation FMC 13,792 5,410.70 690.40 6,400
Fuller H B Co FUL 3,481 3,688.39 182.99 4,400
Gevo Inc. GEVO 478 0.52 -59.73 74
W R Grace and co GRA 4,647 1,859.20 79.90 3,700
Honeywell International Inc HON 118,366 34,459.00 5,112.00 105,500
Huntsman Corporation HUN 5,080 9,343.00 1,314.00 15,000
Innospec Inc. IOSP 2,139 1,729.30 116.10 1,800
Kraton corp KRA 1,522 1,970.13 175.59 1,971
Quaker Chemical Corporation KWR 2,589 1,862.67 83.39 2,020
Lyondellbasell Industries N.v. LYB 78 53,525.00 5,452.00 19,100
Newmarket Corporation NEU 3,058 2,584.97 195.03 1,998
Ingevity Corporation NGVT 2,354 1,515.50 145.70 1,500
Nl Industries inc. NL 377 152.36 76.46 2,776
Quanex Building Products Corporation NX 602 1,205.74 84.57 4,138
Omnova Solutions Inc OMN 455 722.90 -21.70 2,100
Photronics Inc. PLAB 896 795.57 152.61 1,475
374water Inc. SCWO 359 1.34 -3.13 0
Synalloy Corporation SYNL 162 414.27 37.58 411
Unifi Inc. UFI 180 815.76 15.17 3,000
United Guardian Inc UG 52 14.36 3.68 34
SUBTOTAL 281,044.09 242,611.35 28,465.11 300,185
       
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