Bitcoin price today: falls to 2-week low below $113k ahead of Fed Jackson Hole
HOUSTON -On Tuesday, Flowco Holdings Inc. (NYSE:FLOC) reported fourth quarter earnings that beat analyst expectations, as revenue grew 146% compared to the same period in the previous year.
The oil and gas production optimization company’s stock rose 1.98% following the release.
Flowco reported adjusted earnings per share of $2.23 for the fourth quarter, compared to analyst estimates of $2.06. Revenue came in at $185.99 million, up 146% from $75.46 million in Q4 2023.
The company’s Production Solutions segment saw revenue increase 152% year-over-year to $113.33 million. The Natural Gas Technologies segment revenue grew 138% to $72.66 million.
Adjusted EBITDA for the quarter was $73.78 million, with an adjusted EBITDA margin of 39.7%.
"2024 was a transformational year for Flowco. Our year-over-year revenue and EBITDA growth underscores our ability to grow in an industry where our customers are continuously focused on production and capital efficiency," said Joe Bob Edwards, President and CEO.
For the full year 2024, Flowco reported pro forma revenue of $733.26 million, up 10% compared to $665.31 million in 2023.
The company completed its initial public offering in January 2025, raising net proceeds of $461.8 million which were primarily used to pay down borrowings on its revolving credit facility.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.