Flowco Holdings Inc. Announces $50 Million Stock Repurchase Program
HOUSTON--(BUSINESS WIRE)--Flowco Holdings Inc. (NYSE: FLOC) ('Flowco' or the 'Company'), a provider of production optimization, artificial lift and methane abatement solutions for the oil and natural gas industry, today announced that its Board of Directors authorized a stock repurchase program for up to $50 million of the Company's Class A common stock.
Joe Bob Edwards, President and Chief Executive Officer of Flowco, commented, 'The approval of this share repurchase authorization by our Board of Directors reflects our shared confidence in Flowco's long-term value and underscores our belief in the strength of our business model, financial profile, and growth outlook. With strong free cash flow and a healthy balance sheet, we believe we have the flexibility to repurchase shares opportunistically—without compromising our ability to invest in growth or sustain our dividend.'
The repurchase program does not obligate the Company to repurchase any particular amount of shares and may be modified, suspended, or discontinued at any time. Purchases may be made in open-market transactions, privately negotiated transactions or by other means in accordance with the regulations of the Securities and Exchange Commission. The timing of purchases and the number of shares repurchased under the stock repurchase program will depend on a variety of factors including price, trading volume, market conditions and corporate and regulatory requirements.
About Flowco
Flowco is a leading provider of production optimization, artificial lift and methane abatement solutions for the oil and natural gas industry. The company's products and services include a full range of equipment and technology solutions that enable oil and natural gas producers to efficiently and cost-effectively maximize the profitability and economic lifespan of their assets. For more information on Flowco, visit https://ir.flowco-inc.com.
Forward-Looking Statements
The information in this press release includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts contained in this press release may be forward-looking statements. These statements generally relate to future events or our future financial or operating performance, and include, but are not limited to: statements regarding guidance or estimates related to the Company's results of operations or financial condition; industry trends, customer demand and industry outlook, and effects on Flowco's operations; Flowco's strategies and plans, including matters relating to the Company's growth, capital expenditures, dividend policies, share repurchases and leverage profile. When used in this press release, words such as 'expect,' 'project,' 'estimate,' 'believe,' 'anticipate,' 'intend,' 'plan,' 'seek,' 'forecast,' 'target,' 'predict,' 'may,' 'should,' 'would,' 'could,' and 'will,' the negative of these terms and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Forward-looking statements are based on management's current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although Flowco believes that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. These risks and uncertainties are described further in Item 1A under the heading 'Risk Factors' and elsewhere in our annual report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission. Flowco undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
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