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Forum Energy Technologies Inc - FET STOCK NEWS

Welcome to our dedicated news page for Forum Energy Technologies (Ticker: FET), a resource for investors and traders seeking the latest updates and insights on Forum Energy Technologies.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Forum Energy Technologies's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Forum Energy Technologies's position in the market.

News
Forum Energy Technologies Announces Timing of First Quarter 2024 Earnings Conference Call
Rhea-AI Summary
Forum Energy Technologies (FET) schedules its first quarter 2024 earnings conference call for May 3, 2024, at 10:00 a.m. Central Time. FET will release a press report before the call, which can be accessed via webcast on their Investor Relations website. Participants can register to ask questions and access dial-in numbers. A replay will be available on the website later that day. FET is a global company providing solutions for energy industries, headquartered in Houston, TX.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.34%
Tags
earnings
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News
Stonegate Capital Partners Initiates Coverage on Forum Energy Technologies, Inc. (FET)
Rhea-AI Summary
Stonegate Capital Partners initiates coverage on Forum Energy Technologies, Inc. (FET), highlighting the Variperm acquisition's revenue growth potential, strength in subsea product line, and international market expansion. FY24 guidance indicates a 64% y/y EBITDA growth.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
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none
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News
Forum Energy Technologies Announces Fourth Quarter and Full Year 2023 Results and Outlook
Rhea-AI Summary
Forum Energy Technologies, Inc. (FET) reported a 6% year-over-year increase in revenue for 2023, reaching $739 million, with a net loss of $19 million. The company announced a fourth-quarter revenue of $185 million and a net loss of $17 million. FET expects an adjusted EBITDA of $100 to $120 million in 2024, following the Variperm acquisition.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.05%
Tags
earnings
News
Forum Energy Technologies Reschedules Fourth Quarter and Full Year 2023 Earnings Conference Call
Rhea-AI Summary
Forum Energy Technologies, Inc. (FET) will host its Q4 and full year 2023 earnings conference call on March 1, 2024, after delaying the release to assess valuation allowance reserves. The reserves remain unchanged after analysis. FET serves energy industries globally, providing safety and efficiency solutions.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.99%
Tags
earnings
-
News
Forum Energy Technologies to Delay Issuance of Fourth Quarter and Full Year 2023 Earnings Release and Investor Conference Call; Provides Preliminary Results and 2024 Guidance
Rhea-AI Summary
Forum Energy Technologies, Inc. (FET) announces delay in Q4 and full-year 2023 earnings release due to valuation allowance reserves. Q4 revenue up to $185 million with adjusted EBITDA expected at $15-17 million. 2024 guidance includes revenue of $200-220 million and adjusted EBITDA of $23-27 million for Q1.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-7.08%
Tags
earnings
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News
Forum Energy Technologies Announces Timing of Fourth Quarter and Full Year 2023 Earnings Conference Call
Rhea-AI Summary
Forum Energy Technologies, Inc. (FET) will host its Q4 and full year 2023 earnings conference call on February 20, 2024. The call will be webcast and a replay will be available on the Investor Relations website. FET is a global company serving the energy industries, providing value-added solutions for energy exploration and production.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.3%
Tags
earnings
News
Forum Energy Technologies to Present at the Sidoti Virtual Investor Conference
Rhea-AI Summary
Forum Energy Technologies, Inc. (NYSE: FET) announced that its President and CEO, Neal Lux, and CFO, Lyle Williams, will present at the Sidoti Virtual Investor Conference on January 17, 2024. The company will also host virtual one-on-one meetings with investors. FET is a global company providing solutions for the energy industry, with a focus on safety and efficiency. For more information, visit www.f-e-t.com.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.85%
Tags
conferences
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News
Forum Energy Technologies Completes Acquisition of Variperm Energy Services
Rhea-AI Summary
Forum Energy Technologies, Inc. (NYSE: FET) has completed the acquisition of Variperm Energy Services for $150 million in cash and 2 million shares of FET’s common stock. The acquisition enhances FET’s downhole and artificial lift product portfolio, providing sand and flow control products for heavy oil applications. The transaction was funded from cash on hand, borrowings under ABL credit facility, and a $60 million seller term loan. FET also granted restricted stock unit awards to fourteen Variperm employees as an inducement to continue providing services to Variperm and FET following the acquisition.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.13%
Tags
acquisition
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News
Forum Energy Technologies Receives Approval to Proceed with Variperm Acquisition from Canadian Competition Bureau
Rhea-AI Summary
Forum Energy Technologies, Inc. (NYSE: FET) has received approval from the Canadian Competition Bureau to proceed with its planned acquisition of Variperm Energy Services. The acquisition, valued at $150 million in cash and 2 million shares of FET’s common stock, is expected to be immediately accretive to FET’s margins and cash flow. The closing is anticipated to occur in January 2024, subject to satisfaction of customary closing conditions.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.21%
Tags
acquisition
News
Forum Energy Technologies to Present at the Emerging Growth Conference
Rhea-AI Summary
Forum Energy Technologies, Inc. (NYSE: FET) to Present at Emerging Growth Conference on December 7, 2023
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.43%
Tags
conferences acquisition
Stock FET logo
Forum Energy Technologies Inc

NYSE:FET

FET Rankings

#3608 Ranked by Market Cap
#3165 Ranked by Stock Gains
N/A Ranked by Dividends

FET Stock Data

239.29M
9.83M
9.86%
56.15%
0.98%
Oil and Gas Field Machinery and Equipment Manufacturing
Manufacturing
Link
US
Houston

About FET

introducing forum energy technologies – a global provider of manufactured technologies and applied products and services. we may be a new name to you but our equipment and employees have a long history of solving our customers’ challenges. fet brings together some of the most well-known brands in our industry with an extensive range of mission critical products and services. we are building a world class company to bring innovative solutions to our worldwide customers. with offices in the key oilfield distribution centers of the globe, forum is well-positioned to supply our clients with the equipment and related services that improve safety and performance and lower operating costs. forum’s products and services range from the underwater reservoir to the refinery, from the sea floor to the above ground transportation line. we pride ourselves on giving you a comprehensive offering of solutions to maximize your operations and improve your bottom line. our customers are our partners and w