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Forum Energy Technologies, Inc. - $FET STOCK NEWS

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

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.

Rhea-AI Summary
Forum Energy Technologies, Inc. (NYSE: FET) to Present at Emerging Growth Conference on December 7, 2023
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End-of-Day
-2.43%
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conferences acquisition
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Rhea-AI Summary
Forum Energy Technologies, Inc. (NYSE: FET) appoints Ms. Leslie Beyer, former CEO of the Energy Workforce and Technology Council, to its board of directors. Ms. Beyer brings extensive experience in the energy industry, having served in various government positions. FET's CEO, Mr. Neal Lux, expressed excitement about Ms. Beyer's appointment, emphasizing her valuable perspective and industry knowledge. FET, a global company based in Houston, TX, specializes in providing solutions for the oil, natural gas, industrial, and renewable energy sectors.
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End-of-Day
0.58%
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management
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Forum Energy Technologies (FET) has announced its acquisition of Variperm Energy Services for $150 million in cash and 2 million shares of FET's common stock. The transaction is valued at approximately 3.7x Variperm's trailing twelve months EBITDA. The acquisition is expected to close in January 2024, subject to customary closing conditions and Canadian regulatory approval. FET expects the acquisition to significantly improve its profitability and margin profile while adding scale to its business.
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End-of-Day
8.36%
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Rhea-AI Summary
Forum Energy Technologies (NYSE: FET) reported third quarter 2023 revenue of $179 million, a 3% decrease. Orders increased 7% to $199 million, with a book-to-bill ratio of 111%. Net income was $8 million, or $0.77 per diluted share. Adjusted EBITDA was $17 million. Operating cash flow and free cash flow were $26 million and $24 million, respectively.
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End-of-Day
8.36%
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Forum Energy Technologies, Inc. (NYSE: FET) will host its Q3 2023 earnings conference call on November 3, 2023, at 10:00 a.m. Central Time.
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-0.73%
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-3.38%
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conferences
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-6.67%
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2.36%
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4.53%
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1.56%
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Forum Energy Technologies, Inc.

NYSE:FET

FET Rankings

FET Stock Data

227.37M
9.83M
9.86%
56.15%
0.98%
Oil and Gas Field Machinery and Equipment Manufacturing
Manufacturing
Link
United States of America
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