Forum Energy Technologies Inc Stock Price, News & Analysis

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) 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.

Forum Energy Technologies (NYSE: FET) reported full-year 2024 revenue of $816 million, marking a 10% year-over-year increase, with orders reaching $780 million and a book-to-bill ratio of 96%. The company posted a net loss of $135 million for 2024, while achieving adjusted EBITDA of $100 million, up 49% from 2023.

Fourth quarter 2024 results showed revenue of $201 million and orders of $190 million. The quarter's net loss of $104 million included a non-cash intangible asset impairment of $119 million. The company generated strong operating cash flow of $92 million and free cash flow of $105 million for the year.

FET implemented a shareholder return program with $2 million in share repurchases in January 2025 and announced 2025 adjusted EBITDA guidance of $85-105 million. The company expects global drilling and completion activity to decline 2-5% in 2025 but aims to offset this through market share gains.

Forum Energy Technologies (NYSE: FET) announced that C. Christopher Gaut will retire from the FET Board of Directors at the end of his term, not seeking re-election at the 2025 annual meeting. Gaut's journey with FET began in 2006 as a director of Forum Oilfield Technologies. After retiring as CFO of Halliburton in 2010, he developed the strategy that led to FET's creation and guided the company through its 2012 IPO as CEO and Board Chairman.

Michael McShane, FET's Lead Independent Director, acknowledged Gaut's important role in founding FET and his leadership through various industry cycles. Notably, Gaut continued serving on the Board after stepping down as CEO in 2022 to ensure a smooth leadership transition.