---
title: "Flotek Loses Major Puerto Rico Power Contract"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/296367538.md"
description: "Flotek (FTK) lost a major contract with the Puerto Rico Electric Power Authority, which terminated its 400 MW natural gas project agreement due to failure to provide performance security. This cancellation eliminates a potential $40 million annual revenue stream and a $400 million 10-year backlog. However, management stated the termination does not alter 2026 financial guidance as the deal was excluded from forecasts, limiting near-term impact while removing long-term growth opportunities."
datetime: "2026-08-19T13:48:52.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/296367538.md)
  - [en](https://longbridge.com/en/news/296367538.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/296367538.md)
generator: "portal-rs"
---

# Flotek Loses Major Puerto Rico Power Contract

Flotek ( (FTK) ) has provided an announcement.

On August 18, 2026, the Puerto Rico Electric Power Authority terminated its Power Purchase and Operating Agreement tied to a 400 MW natural gas-fired generation project, citing a failure to provide performance security and a directive from Puerto Rico’s Financial Oversight and Management Board. Flotek, which had assumed certain contractual responsibilities in late July 2026, lost a planned 10-year engagement that was expected to involve deployment of PWRtek equipment and up to 40 MW of primary power capacity.

The cancellation wipes out a potential annual revenue stream of approximately $40 million and an estimated $400 million 10-year backlog for Flotek, although the company had not yet deployed equipment or recognized any revenue under the agreement. Management stated that the termination does not alter its previously issued 2026 financial guidance, which excluded any contribution from the PREPA contract, limiting near-term financial impact but removing a significant long-term growth opportunity for stakeholders.

The most recent analyst rating on (FTK) stock is a Buy  
 with a $38.00 price target.  
 To see the full list of analyst forecasts on Flotek stock,  
 see the FTK Stock Forecast page. 

**Spark’s Take on FTK Stock**

According to Spark, TipRanks’ AI Analyst, FTK is a Neutral.

FTK’s score is driven primarily by improved profitability and a much healthier balance sheet, but is held back by negative and volatile TTM operating/free cash flow. Recent earnings-call commentary and upgraded guidance add support, while technicals are mixed and valuation (P/E ~26.9 with no dividend yield provided) is only average.

To see Spark’s full report on FTK stock,  
 click here. 

**More about Flotek**

Flotek Industries, Inc. operates in the energy technology and services sector, focusing on advanced chemistry-based products and proprietary platforms that support hydrocarbon production and power infrastructure. The company’s offerings include its PWRtek platform, designed to provide smart conditioning, distribution and primary power generation capacity for natural gas-fired grid enhancement projects.

**Average Trading Volume:** 442,315

**Technical Sentiment Signal:** Buy

**Current Market Cap:** $1.04B

For an in-depth examination of FTK stock, go to TipRanks’ Overview page.

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- [FTK.US](https://longbridge.com/en/quote/FTK.US.md)

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**