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. (FET) is a global manufacturing company headquartered in Houston, Texas, serving the oil, natural gas, industrial and renewable energy industries. The FET news page on Stock Titan aggregates company press releases and market updates so readers can follow how Forum Energy Technologies communicates its strategy, operations and financial performance.
News about Forum Energy Technologies frequently covers quarterly earnings results, segment performance for Drilling and Completions and Artificial Lift and Downhole, and metrics such as book-to-bill ratio, backlog, free cash flow and adjusted EBITDA. These updates provide insight into demand trends for drilling, subsea, coiled tubing, wireline, stimulation, well construction, artificial lift and oil and natural gas processing products.
Investors and industry followers can also use this page to track announcements related to capital allocation, including debt reduction and share repurchases, as well as commentary on the company’s long-term FET 2030 growth plan. Management remarks in earnings releases and conference presentations outline how Forum Energy Technologies seeks to grow revenue and market share in key markets and utilize its global footprint.
In addition to financial results, the news feed includes items on corporate governance and strategic relationships, such as board appointments and collaborations in subsea and robotics technologies. Examples include agreements related to subsea electric manipulator systems and references to offshore defense orders within the company’s backlog. By reviewing these updates in one place, readers can monitor how Forum Energy Technologies positions itself across oil, gas, industrial and renewable energy markets and how its segment mix and order trends evolve over time.
Forum Energy Technologies, Inc. (NYSE: FET) announced the sale of four manufacturing and distribution centers in Texas and Louisiana, generating approximately
Forum Energy Technologies (NYSE: FET) reported third quarter 2022 revenue of $182 million, reflecting a 6% sequential increase. The company achieved net income of $16.5 million, or $1.82 per diluted share, up from $9.3 million in Q2 2022. Adjusted EBITDA rose to $17.8 million, a 15% increase, while Free Cash Flow reached $17.3 million. FET confirms full-year 2022 Adjusted EBITDA guidance at $50 to $60 million. The strong demand in its markets is expected to drive further revenue growth and margin expansion.
Forum Energy Technologies, Inc. (NYSE: FET) has rescheduled its third quarter 2022 earnings conference call to 11:00 a.m. CST on November 9, 2022. A press release detailing the earnings will be issued before the call, which will be available for webcast on FET's Investor Relations website. Participants wishing to ask questions must register in advance to obtain dial-in details. The call replay will be accessible from 5:00 p.m. CST on the same day. FET specializes in providing solutions for the oil, gas, industrial, and renewable energy sectors.
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