Forum Energy Technologies Inc Stock Price, News & Analysis

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.

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.

Forum Energy Technologies (NYSE: FET) has scheduled its fourth quarter and full year 2024 earnings conference call for Friday, February 21, 2025, at 10:00 a.m. Central Time. The company will release its earnings report before the conference call.

The call will be accessible through a webcast on FET's Investor Relations website. Participants wanting to ask questions during the call need to 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 at approximately 5:00 p.m. Central Time on February 21, 2025.

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.

Forum Energy Technologies (NYSE: FET) announced that board member Leslie A. Beyer has been nominated to serve as Assistant Secretary for Land and Minerals Management in the U.S. Department of Interior (DOI). Upon Senate confirmation, Beyer would oversee key DOI agencies including the Bureau of Land Management, Office of Surface Mining Reclamation and Enforcement, Bureau of Ocean Energy Management, and Bureau of Safety and Environmental Enforcement.

Beyer, who joined FET's Board in December 2023, serves on the company's Nominating, Governance & Sustainability Committee and the Compensation and Human Capital Committee. FET's President and CEO Neal A. Lux praised Beyer's leadership abilities and industry commitment, noting her experience in addressing key energy issues.

Forum Energy Technologies (NYSE: FET) has announced its participation in the upcoming Sidoti Virtual Micro Cap Conference. President and CEO Neal Lux, along with Executive VP and CFO Lyle Williams, will present on Wednesday, January 22, 2025, at 11:30 a.m. Eastern Time.

The presentation will be accessible via live webcast, with presentation slides available on FET's Investor Relations webpage. The company will also conduct virtual one-on-one investor meetings on January 22-23, 2025.

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.