Forum Energy Technologies Inc Stock Price, News & Analysis

Forum Energy Technologies (NYSE: FET) has appointed two new members to its board of directors. Aron H. Marquez, Executive Chairman of Wildcat Oil Tools, joins as a Class III director and will serve on the Nominating, Governance and Sustainability Committee and the Compensation and Human Capital Committee. Mark W. Smith, former CFO of Helmerich & Payne, joins as a Class I director and will serve on the Compensation and Human Capital Committee and Audit Committee. Smith brings extensive financial expertise as a CPA with previous CFO experience at Atwood Oceanics and consulting roles at major firms. Marquez, who founded Wildcat Oil Tools in 2012, also serves on the board of Permian Resources and brings significant industry experience. Both appointments are expected to strengthen FET's leadership as it navigates current market conditions.

Forum Energy Technologies (NYSE: FET) has secured a contract to provide a submarine rescue vehicle system for the Indonesian Navy. The system includes a state-of-the-art LR600 model SRV, launch and recovery system, and decompression capabilities. The piloted rescue submersible can operate at depths up to 605 meters, transport 20 people, and features advanced technologies including automatic depth control, heading systems, and integrated sonar. The project leverages FET's 50-year experience in submersible technology, with manufacturing split between facilities in Yorkshire, England and Bryan, Texas. Sea trials for the system are scheduled for 2028.

Forum Energy Technologies (NYSE: FET) announced that CEO Neal Lux will present at the Sidoti Virtual Small Cap Conference on June 11, 2025, at 10:00 a.m. ET. The presentation will be accessible via live webcast, with presentation slides available on FET's Investor Relations website. FET is a global manufacturing company headquartered in Houston, Texas, providing solutions for oil, natural gas, industrial, and renewable energy industries, focusing on improving safety, efficiency, and environmental impact of customer operations.

Forum Energy Technologies (NYSE: FET) announced that its President and CEO Neal Lux, along with Executive VP and CFO Lyle Williams, will participate in a Water Tower Research fireside chat on Wednesday, May 21, 2025, at 10:00 a.m. Central Time. The event will be publicly accessible through online registration, and a webcast link will be available on FET's Investor Relations website.

FET is a global manufacturing company headquartered in Houston, Texas, providing solutions for the oil, natural gas, industrial, and renewable energy sectors, focusing on improving safety, efficiency, and environmental impact of customer operations.

Forum Energy Technologies (NYSE: FET) has announced the appointment of Michael McShane as non-executive Chairman of the Board of Directors. McShane, who has served as Lead Independent Director since 2018 and as a director since 2010, succeeds C. Christopher Gaut, who is retiring after more than 20 years of service on FET's Board.

FET is a global manufacturing company headquartered in Houston, Texas, providing solutions for the oil, natural gas, industrial, and renewable energy industries, focusing on improving safety, efficiency, and environmental impact of customer operations.

Forum Energy Technologies (NYSE: FET) reported its Q1 2025 financial results with revenue of $193.3M, slightly below consensus estimates of $196.5M. The company's adjusted EBITDA came in at $20.1M with margins of 10.4%, falling short of expectations of $23.0M. Adjusted net income was $0.5M, significantly below consensus estimates of $3.3M.

Notable achievements include the seventh consecutive quarter of positive free cash flow, generating $7.0M in Q1. The company's Drilling and Completions segment showed growth with revenue increasing 4% sequentially to $116.0M. Management has initiated cost-reduction measures aimed at eliminating approximately $10M in annualized costs.

Forum Energy Technologies (NYSE: FET) reported Q1 2025 results with revenue of $193 million and net income of $1 million ($0.09 per diluted share). The company generated orders of $201 million with a book-to-bill ratio of 104%. Despite economic uncertainty from U.S. tariff changes and OPEC+ supply growth, FET maintained its 2025 free cash flow guidance of $40-60 million. The company initiated $10 million in annualized cost reductions and reported its seventh consecutive quarter of positive free cash flow at $7 million. Q1 adjusted EBITDA was $20 million, with Q2 2025 guidance set at $18-22 million. Notably, Subsea bookings increased by nearly 60% due to new product adoption and offshore market strength.

Forum Energy Technologies (NYSE: FET) has scheduled its first quarter 2025 earnings conference call for Friday, May 2, 2025, at 10:00 a.m. Central Time. The company will release its Q1 2025 earnings report before the conference call.

The earnings call will be accessible through a webcast on FET's Investor Relations website. Participants wanting to ask questions during the call must register through the company's IR website to receive dial-in numbers and a unique PIN. A replay of the call will be available on the same website starting May 2, 2025, at approximately 5:00 p.m. Central Time.

FET operates globally in the oil, natural gas, industrial, and renewable energy sectors, providing solutions to enhance energy exploration and production safety and efficiency. The company maintains manufacturing, distribution, and service facilities worldwide, with headquarters in Houston, TX.

Forum Energy Technologies (NYSE: FET) reported Q4 2024 financial results with revenue of $201.0M, adjusted EBITDA of $22.2M, and adjusted net loss of $5.9M. Revenue aligned with analyst expectations, while gross profit margins came in slightly below forecasts. The company achieved adjusted EBITDA margins of 11.0%, slightly below expectations.

Notable highlights include strong free cash flow of $56.9M, representing a sequential increase of $32.4M. The Artificial Lift and Downhole segment showed growth with revenue increasing 6.8% sequentially to $89.9M. The company has also initiated its previously announced $75.0M share repurchase program.