Other Events ·
Flotek Industries announced that the Puerto Rico Financial Oversight and Management Board voted to revoke its approval…
FTKFlotek Industries Inc
Flotek Industries announced that the Puerto Rico Financial Oversight and Management Board voted to revoke its approval of a previously signed 10-year contract with PREPA, directing termination due to allegations regarding unauthorized signatures by Enchanted Rock. PREPA subsequently ordered an immediate work stoppage for all consortium parties pending evaluation, though no formal notice of termination has been issued. The company reaffirmed its full-year 2026 financial guidance of $340 million to $350 million in revenue and $47 million to $51 million in Adjusted EBITDA, explicitly excluding any potential contributions from the PREPA Contract which was expected to generate up to $40 million annually. Flotek operates as a chemistry and data technology company servicing the energy industry.