uploads///US Rev and Rig Count

Could the US Rig Count Affect Flotek Industries in 4Q16?

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Dec. 24 2016, Updated 10:33 a.m. ET

Flotek Industries’ US revenue

In the past year, Flotek Industries’ (FTK) revenue share from the United States has fallen. In 3Q16, it fell to 79%, compared with 84% in 3Q15. During the same period, FTK’s aggregate revenue fell 16%.

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US rig count

Between 3Q15 and 3Q16, the US rig count fell 38%. Between its multiyear high in September 2014 and December 16, it fell 67%.

From September 30 until the week ended December 16, the US rig count gained ~20% to close at 637. A higher US rig count could boost FTK’s revenue and earnings in 4Q16. Next, we’ll discuss FTK’s revenue from international operations and the international rig count.

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