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.
Forum Energy Technologies, Inc. reports business developments for a global manufacturer serving the oil, natural gas, defense, and renewable energy industries. The company supplies engineered capital equipment and consumable products used in drilling, well construction, production, subsea, coiled tubing, wireline, stimulation, artificial lift, and oil and natural gas processing markets.
FET news commonly covers quarterly results, segment revenue, adjusted EBITDA, order activity, book-to-bill trends, cash flow, guidance, and product demand across its Drilling and Completions and Artificial Lift and Downhole segments. Updates also include credit facility amendments, share repurchase activity, investor conference presentations, and management commentary on manufacturing utilization, cost initiatives, and market demand.
Forum Energy Technologies (NYSE: FET) has released preliminary financial results for Q3 2024. Revenue is estimated at $208 million, up from $205 million in Q2. Bookings increased to approximately $205 million from $180 million. Adjusted EBITDA remained stable at $26 million. Free Cash Flow (before acquisitions) improved to $24 million from $21 million.
These preliminary results fall within FET's previously announced guidance ranges. The company, headquartered in Houston, Texas, serves the oil, natural gas, industrial, and renewable energy industries globally, focusing on improving safety, efficiency, and environmental impact for its customers.
FET notes that these figures are estimates and may vary from final results pending completion of financial closing procedures and final adjustments.
Forum Energy Technologies (NYSE: FET) has announced a private offering of $100 million in 5-year senior secured bonds. The company plans to use the proceeds, along with cash on hand, to redeem all outstanding 9.000% Convertible Senior Secured Notes due 2025 and repay borrowings from the seller term loan related to the Variperm Energy Services acquisition.
The offering will be made only to non-U.S. persons outside the United States under Regulation S of the Securities Act. The bonds have not been registered under the Securities Act or state securities laws, limiting their sale in the U.S. This announcement does not constitute a redemption notice for the 2025 Notes or a repayment notice for the Seller Term Loan.
Forum Energy Technologies (NYSE: FET) has announced its participation in a fireside chat with Water Tower Research on October 9, 2024, at 10:00 a.m. Central Time. The event will feature Neal Lux, President and CEO, and Lyle Williams, Executive VP and CFO. This open-access event is available for registration through a provided link, and a live webcast will be accessible on FET's Investor Relations web page.
FET is a global company serving the oil, natural gas, industrial, and renewable energy industries. It provides solutions to enhance the safety and efficiency of energy exploration and production. The company emphasizes its commitment to environmental and social responsibility, with its headquarters in Houston, TX, and facilities strategically located worldwide.
Forum Energy Technologies (NYSE: FET) has announced its third quarter 2024 earnings conference call, scheduled for Friday, November 1, 2024, at 10:00 a.m. Central Time. The company will release its Q3 2024 earnings report before the call. Investors can access the webcast through FET's Investor Relations website. To participate and ask questions, registration is required to receive dial-in numbers and a unique PIN.
A replay of the call will be available on the Investor Relations website from approximately 5:00 p.m. Central Time on November 1, 2024. FET is a global company serving the oil, natural gas, industrial, and renewable energy industries, providing solutions to enhance safety and efficiency in energy exploration and production.
Forum Energy Technologies (NYSE: FET), a global provider of products for the oil, gas, industrial, and renewable energy sectors, is set to present at the 2024 Annual Gateway Conference in San Francisco. The company's management team will deliver a presentation on September 4th at 11 a.m. PT, which will be webcast live and available for replay. FET executives will also be available for one-on-one meetings throughout the conference.
This event provides an opportunity for investors and analysts to gain insights into FET's operations, strategies, and market outlook. Interested parties can request invitations or schedule meetings by contacting the conference organizers.
Forum Energy Technologies (NYSE: FET) has announced its participation in the EnerCom Denver – The Energy Investment Conference. Chief Financial Officer Lyle Williams will present on Tuesday, August 20, 2024, at 9:45 a.m. Mountain Time. The presentation will be available via live webcast on FET's Investor Relations web page and the conference website.
FET is a global company serving the oil, natural gas, industrial, and renewable energy industries. It provides value-added solutions to increase the safety and efficiency of energy exploration and production. The company is committed to environmental and social responsibility, with its headquarters in Houston, TX, and facilities strategically located worldwide.
Forum Energy Technologies (NYSE: FET) reported Q2 2024 results with revenue of $205 million, up 11% year-over-year. The company posted a net loss of $7 million ($0.54 per diluted share) and an adjusted net loss of $1 million ($0.07 per diluted share). Adjusted EBITDA rose 48% year-over-year to $26 million.
FET generated strong free cash flow of $21 million and raised its 2024 full-year free cash flow guidance to $50-$70 million. The company maintained the bottom end of its adjusted EBITDA guidance but lowered the top end, now projecting $100-$110 million for 2024. FET plans to retire outstanding 2025 Notes and the Variperm Seller Term Loan by mid-2025.
Forum Energy Technologies (NYSE: FET) has announced its second quarter 2024 earnings conference call, scheduled for Friday, August 2, 2024, at 10:00 a.m. Central Time. The company will release its Q2 2024 earnings report before the call. Investors can access the webcast through FET's Investor Relations website. Those wishing to ask questions during the call should register online to receive dial-in information and a unique PIN.
FET is a global company serving the oil, natural gas, industrial, and renewable energy sectors, focusing on providing solutions that enhance safety and efficiency in energy exploration and production. The company emphasizes its commitment to environmental and social responsibility, with its headquarters in Houston, TX, and facilities worldwide.
Forum Energy Technologies (NYSE: FET) has announced plans to redeem $60 million of its 9.000% Convertible Senior Secured Notes due 2025 at par on August 16, 2024. The company expects to report cash flows from operating activities between $23 million and $25 million for Q2 2024. Additionally, FET repurchased approximately $13 million of the 2025 Notes at a discount during the quarter.
CEO Neal Lux stated that the company is executing its plan to retire long-term debt through positive free cash flow and liquidity under its ABL Credit Facility. Following this redemption, FET will have retired more than half of the outstanding principal amount of the 2025 Notes this year. The company aims to repay the remaining 2025 Notes and the Variperm Seller Term Loan in 2025.
Forum Energy Technologies (NYSE: FET) announced that its President and CEO, Neal Lux, will present at the J.P. Morgan 2024 Energy, Power and Renewables Conference on June 18, 2024, at 10:20 a.m. ET.
The webcast and presentation slides will be available on FET's website. FET is a global provider of solutions for the oil, natural gas, industrial, and renewable energy industries, focusing on safety and efficiency in energy exploration and production. The company emphasizes environmental and social responsibility, headquartered in Houston, with facilities worldwide.