Forum Energy Technologies Inc Stock Price, News & Analysis

Forum Energy Technologies, Inc. (NYSE: FET) will host its third quarter 2022 earnings conference call on November 11, 2022, at 10:00 a.m. Central Standard Time. A press release detailing the earnings will be issued before the call. The conference call will be available through the Investor Relations section of FET's website. Participants interested in asking questions must register on the website for dial-in information and a unique PIN. The replay will be accessible from 5:00 p.m. Central Standard Time on the same day.

Forum Energy Technologies (NYSE: FET) reported second quarter 2022 revenue of $172 million, an 11% increase from the previous quarter. The company achieved net income of $9 million or $1.15 per diluted share, a turnaround from a $9 million net loss in Q1. Adjusted EBITDA rose to $15.5 million, a 74% sequential increase. The Drilling & Downhole segment led revenue growth, contributing $77 million, while the Completions segment surged by 26% to $66 million. Production segment revenue dropped by 5% to $30 million due to supply chain issues.

Forum Energy Technologies, Inc. (NYSE: FET) will host its second quarter 2022 earnings conference call on August 5, 2022, at 10:00 AM CDT. A press release with the earnings details will be issued prior to the call. Participants can join via the Investor Relations link on Forum's website, and it's recommended to log in about ten minutes early. A replay will be available on the Investor Relations site starting at 11:00 AM CDT on the same day.

Forum Energy Technologies (NYSE: FET) reported $155 million in revenue for Q1 2022, a 5% increase from Q4 2021. The company's net loss was $9 million with a diluted EPS of ($1.62), improving from a $20 million loss in the previous quarter. Adjusted EBITDA reached $9 million, up 112% sequentially. Orders totaled $165 million, resulting in a book-to-bill ratio of 1.06. The company anticipates Q2 revenue between $160 and $170 million and an adjusted EBITDA of $11 to $14 million.

Forum Energy Technologies (NYSE: FET) announces an earnings conference call for Q1 2022 on May 6, 2022, at 10:00 AM CDT. A press release with earnings details will precede the call. Interested participants can join via phone by calling 855-757-8876 within North America or 631-485-4851 for international access, with access code 8657545. The call will also be streamed on the company’s website. A replay will be available for two weeks post-call.

Forum Energy Technologies (NYSE: FET) reported a full year 2021 revenue of $541 million, marking a $29 million increase year-over-year. Despite a net loss of $83 million, adjusted EBITDA rose to $20 million, a gain of $39 million. In Q4 2021, revenue reached $148 million, up $7 million from Q3 2021, but the net loss was $20 million. Management highlighted that supply chain delays and inflation have impacted profitability. Looking forward, FET expects improved profitability in 2022 as demand and pricing are projected to rise.

Forum Energy Technologies (NYSE: FET) announced that its fourth quarter 2021 results will be below previous guidance due to supply chain disruptions and increased costs, leading to projected revenue of approximately $148 million and adjusted EBITDA of $4 million. Despite these challenges, the full year 2021 performance showed revenue growth to $541 million and adjusted EBITDA of $20 million. The company anticipates a book-to-bill ratio of approximately 1.1x, indicating potential revenue growth in 2022.

Forum Energy Technologies (NYSE: FET) announced the appointment of Neal Lux as President and CEO, effective February 18, 2022. Lux, currently Executive Vice President and COO, will succeed Cris Gaut, who transitions to Executive Chairman. Gaut expressed confidence in Lux's leadership and the management team as they focus on growth and expanding FET's product offerings, particularly in new energy solutions. Lux's experience includes various operations roles at FET and Global Tubing, contributing to the company's goals in the energy sector.

Forum Energy Technologies (FET) reported a third quarter 2021 revenue of $141 million, up 3% sequentially, with orders at $176 million, representing an 11% increase. The company experienced a net loss of $12 million and diluted EPS of -$2.05. Adjusted EBITDA improved by 9% sequentially to $7 million. A $10 million share repurchase program was authorized, equivalent to 8% of equity market cap. The company anticipates fourth quarter revenues of $145-$155 million and EBITDA of $9-$11 million, with ongoing supply chain challenges impacting operations.