Shares of Flowco Holdings Inc. (FLOC) soared 7.94% in pre-market trading on Tuesday after the production optimization and artificial lift solutions provider reported better-than-expected fourth-quarter 2024 results.
The company announced earnings per share (EPS) of $2.23 for the quarter, significantly higher than the previous quarter's $2.06. Revenue came in at $186 million, showing steady growth from $189.4 million in Q3 2024. Notably, Flowco's Adjusted EBITDA reached $73.8 million, demonstrating strong operational performance and profitability.
Investors appear to be reacting positively to Flowco's financial strength and growth prospects. The company's President and CEO, Joe Bob Edwards, highlighted the transformational nature of 2024 for Flowco, stating, "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."
With its strategic focus on production optimization and a stable U.S. production outlook, Flowco expects continued growth in 2025. The company's strong Q4 performance and optimistic forward-looking statements seem to be driving investor confidence, resulting in the significant pre-market stock price increase.
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