Stonegate Capital Partners Updates Coverage on Forum Energy Technologies, Inc. (FET) Q1 24
Rhea-AI Summary
Stonegate Capital Partners updated their coverage on Forum Energy Technologies, Inc. (NYSE: FET) highlighting significant year-over-year free cash flow growth attributed to the Variperm acquisition, drilling and completions EBITDA margin expansion by 86 basis points, and a 33.9% year-over-year increase in artificial lift and equipment revenue.
AI-generated analysis. Not financial advice.
Positive
- Significant year-over-year free cash flow growth due to Variperm acquisition
- Drilling and completions EBITDA margin expanded by 86 basis points
- 33.9% year-over-year growth in artificial lift and equipment revenue
Negative
- None.
News Market Reaction – FET
On the day this news was published, FET gained 1.81%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Dallas, Texas--(Newsfile Corp. - May 6, 2024) - Forum Energy Technologies, Inc. (NYSE: FET) Stonegate Capital Partners updates their coverage on Forum Energy Technologies, Inc. (NYSE: FET).
To view the full announcement, including downloadable images, bios, and more, click here.
Key Takeaways:
- Significant y/y FCF growth due to Variperm acquisition
- Drilling and completions EBITDA margin expansion of 86bps
- Artificial lift and equipment revenue growth of
33.9% y/y
Click image above to view full announcement.
About Stonegate
Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking, equity research and capital raising for public and private companies.
Contacts:
Stonegate Capital Partners
(214) 987-4121
info@stonegateinc.com
Source: Stonegate, Inc.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/208175