Business Context and Reporting Period
Company: Flotek Industries, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: November 2, 2016
Reporting Period: The filing references financial results for the quarter ended September 30, 2016, which were issued via a press release (Exhibit 99.1) incorporated by reference.
Key Financial Metrics
This Form 8-K serves as a notification of the release of financial results rather than a detailed financial statement. The specific numerical values for revenue, profit, cash flow, margins, debt, and liquidity for the quarter ended September 30, 2016, are not contained within the text of this filing. Investors must refer to the attached press release (Exhibit 99.1) for these figures.
Material Changes and Corporate Events
- Executive Departure: Robert M. Schmitz, Executive Vice President and Chief Financial Officer, notified the Company of his decision to retire.
- Effective Date: The retirement is effective in the first quarter of 2017.
- Reason for Departure: The filing explicitly states the retirement is not due to any disagreement with the Company regarding operations, policies, or practices.
Guidance, Outlook, and Risks
The Company announced a conference call to discuss operating results for the quarter ended September 30, 2016. No specific forward-looking guidance, risk factors, or contingencies are detailed in the body of this 8-K filing beyond the standard disclosure regarding the CFO's retirement.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release dated November 2, 2016) for specific Q3 2016 financial metrics (revenue, EPS, cash flow).
- Confirm the timeline and process for the appointment of a new Chief Financial Officer to replace Robert M. Schmitz.
- Listen to the conference call referenced in the press release for management commentary on the retirement and operational outlook.