The Oversight Board's termination directive, combined with the short-seller attack, creates acute binary downside risk. Watch for formal PREPA termination notice, which would remove a major growth catalyst. Until resolved, avoid long exposure; a favorable reversal of the Oversight Board's action would be a strong bullish catalyst.
Price Chart
Executive Summary
Flotek provided an update on the Puerto Rico PREPA Contract, reporting that the Oversight Board voted to direct PREPA to terminate the contract and PREPA has ordered a work stoppage. Separately, a short-selling report was published targeting the company. Flotek reaffirmed its full-year 2026 guidance of $340M-$350M revenue and $47M-$51M Adjusted EBITDA, which excludes any PREPA contribution, but the adverse project developments create material uncertainty for a potentially large revenue stream.
Key Financial Metrics
Key Facts
- Oversight Board voted to direct PREPA to terminate the PREPA Contract.
- PREPA ordered all parties to hold work pending evaluation.
- A short seller published a report with allegations (admitted short interest).
- Flotek reaffirmed 2026 guidance of $340M-$350M revenue and $47M-$51M Adjusted EBITDA, excluding PREPA.
- No formal termination notice has been received as of Aug 17, 2026.
- Q2 2026 EPS of $0.26 beat consensus of $0.18 by 44.4%.
- Revenue guidance unchanged from Aug 4, 2026 raise; prior Q2 performance described as 'record'.
Financial Impact
PREPA contract was a 10-year, 400-MW power project (value undisclosed); loss could materially impact future revenue. Current guidance unaffected.
Risk Factors
- Formal termination of the PREPA contract by PREPA or the Oversight Board.
- Further negative short-seller allegations and reputational damage.
- Litigation or regulatory scrutiny related to the procurement process.
- Project collapse eliminates a transformative revenue stream.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-prn-302854009 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 23, 2026 4w ago | 8-K | $28.95 $29.79 | ▲ +2.90% | ▲ +3.32% | $25.83 (−10.76%) |
Sep 15, 2026 5w ago | SC 13D/A | $28.13 $30.43 | ▲ +8.18% | ▲ +6.35% | $25.83 (−8.16%) |
Sep 15, 2026 5w ago | Insider Cluster | $28.13 $30.43 | ▲ +8.18% | ▲ +5.61% | $25.83 (−8.16%) |
Sep 9, 2026 6w ago | 8-K | $27.88 $28.13 | ▲ +0.90% | ▲ +1.99% | $25.83 (−7.34%) |
Aug 19, 2026 9w ago | 8-K | $25.17 $23.61 | ▲ +6.20% | ▲ +5.81% | $25.83 (−2.64%) |
Aug 18, 2026 10w ago | 8-K | $27.02 $24.00 | ▲ +11.18% | ▲ +10.98% | $25.83 (+4.39%) |
Aug 18, 2026 10w ago | Press Release | $27.02 $24.00 | ▲ +11.18% | ▲ +10.98% | $25.83 (+4.39%) |
Aug 4, 2026 11w ago | 8-K | $36.07 $37.17 | ▲ +3.05% | ▲ +2.70% | $25.83 (−28.38%) |
Jul 6, 2026 16w ago | Press Release | $22.40 $26.77 | ▲ +19.51% | ▲ +18.96% | $25.83 (+15.33%) |
May 5, 2026 24w ago | 8-K | $16.33 $17.00 | ▲ +4.10% | ▲ +2.97% | $25.83 (+58.21%) |
US Market Status
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