Flotek Industries Q4 revenue $19.5 millionChristian Fernsby ▼ | March 6, 2020
Flotek Industries yesterday announced results for the fourth quarter ended December 31, 2019.
Flotek Industries A loss from continuing operations was $37.1 million
Topics: Flotek Industries
In the fourth quarter, adjusted EBITDA was $0.8 million less than the third quarter primarily due to lower revenue and a change in product mix.
The $37.1 million loss for the three months ended December 31, 2019 included a non-recurring $15.8 million loss on purchase commitments associated with the Company's terpene supply agreement with Florida Chemical Company, LLC ("FCC") entered into in February 2019, and the recording of an additional $4.4 million reserve related specifically to the Company's terpene inventory balance as of December 31, 2019. ■