Forum Energy Technologies Stock Price, News & Analysis

Forum Energy Technologies, Inc. (FET) is a global manufacturing company that serves the oil, natural gas, industrial and renewable energy industries. The company is headquartered in Houston, Texas and is dual listed on the New York Stock Exchange and the NYSE Texas stock exchanges. Forum Energy Technologies focuses on providing value added solutions that improve the safety, efficiency and environmental impact of its customers’ operations across energy and industrial markets.

According to the company’s public disclosures, Forum Energy Technologies designs, manufactures and distributes highly engineered products, including capital equipment and consumable products. These offerings support the drilling, well construction, production and transportation of oil and natural gas, as well as applications in industrial and renewable energy sectors. The company also engages in aftermarket parts supply and services that complement its product portfolio.

Business Segments and Operations

Forum Energy Technologies reports two primary business segments: Drilling and Completions and Artificial Lift and Downhole. The Drilling and Completions segment provides consumable products and capital equipment for drilling, subsea, coiled tubing, wireline and stimulation markets. This segment’s products are used in onshore and offshore environments and support a range of drilling and completion activities.

The Artificial Lift and Downhole segment engineers, manufactures and supplies products for well construction, artificial lift and oil and natural gas processing. This includes products used in downhole applications and in processing technologies that support oil and gas production. Company disclosures indicate that a significant portion of revenue has been generated by the Artificial Lift and Downhole segment.

End Markets and Customers

Forum Energy Technologies serves a broad set of customers across the energy value chain. The company’s customers include oil and natural gas operators, land and offshore drilling contractors, oilfield service companies, pipeline and refinery operators, and renewable energy and new energy companies. Through its global footprint of manufacturing, distribution and service facilities, Forum Energy Technologies supplies equipment and consumables to both traditional hydrocarbon markets and growing renewable and industrial applications.

The company describes itself as a global company with manufacturing, distribution and service facilities strategically located throughout the world. This global presence supports customers in offshore and international markets as well as in key onshore basins. Company communications also highlight activity related to offshore defense work within its order book.

Subsea and Robotics-Related Activities

Forum Energy Technologies is active in subsea and remotely operated vehicle (ROV) markets. Within its Drilling and Completions segment, the company reports sales and orders for subsea ROVs and related drilling capital equipment. In addition, Forum Energy Technologies has entered into a Manufacturing and Sales Agreement with Nauticus Robotics, Inc. Under this agreement, Forum Energy Technologies will lead the commercialization, manufacturing and distribution of Nauticus’ Olympic Arm electric manipulator system, while Nauticus focuses on robotics, autonomy and intelligent control technologies.

Through this collaboration, Forum Energy Technologies contributes its global manufacturing capability and experience in delivering reliable subsea equipment, while incorporating advanced subsea manipulation technologies developed by Nauticus. Company statements describe this work as part of a broader effort to develop differentiated technologies and grow market share in key subsea and offshore markets.

Strategic Direction and FET 2030

Forum Energy Technologies has outlined a long-term growth plan referred to as FET 2030. In public communications, the company describes FET 2030 as its long-term growth plan under which it aims to double its revenue and market share in key markets by 2030. Management commentary links this plan to initiatives such as developing differentiated technologies, expanding in offshore and international markets, executing cost savings and utilizing the company’s global footprint.

The company has also referenced a "Beat the Market" strategy in connection with its bookings and backlog performance. Forum Energy Technologies reports that this strategy has contributed to strong bookings, a high book-to-bill ratio and the highest backlog in more than ten years, based on its recent quarterly results. These elements are presented by the company as supporting its long-term growth objectives under FET 2030.

Financial Reporting and Segments

Forum Energy Technologies regularly reports its financial results, including revenue, segment performance and cash flow, through quarterly earnings releases and SEC filings. The company provides segment-level revenue and EBITDA information for Drilling and Completions and Artificial Lift and Downhole, along with commentary on order trends, backlog and product mix.

In its earnings communications, Forum Energy Technologies discusses metrics such as book-to-bill ratio, free cash flow, adjusted EBITDA and net leverage ratio. The company states that these non-GAAP financial measures are used to assess operating performance, liquidity and resources available for activities such as investing in the business, strengthening the balance sheet, repurchasing securities and making strategic acquisitions.

Corporate Governance and Listings

Forum Energy Technologies’ common stock trades on the New York Stock Exchange under the symbol FET, and the company has announced a secondary listing on NYSE Texas, where it is a founding member. The New York Stock Exchange remains its primary exchange. The company has an active board of directors and board committees, including a Compensation and Human Capital Committee and a Nominating, Governance and Sustainability Committee.

Public filings and press releases describe changes in board composition, including the retirement and subsequent appointment of The Honorable Leslie A. Beyer as a director. These disclosures provide insight into the company’s governance practices and board-level oversight of areas such as human capital and sustainability.

Industry Positioning

Forum Energy Technologies operates within the oil and gas field machinery and equipment manufacturing industry, with exposure to industrial and renewable energy markets. Its product portfolio spans engineered capital equipment and consumable products used throughout the lifecycle of oil and gas assets, from drilling and well construction to production and transportation. The company also emphasizes solutions that support safety, efficiency and environmental performance in energy exploration and production.

Through its dual focus on traditional hydrocarbon markets and emerging energy applications, along with subsea and robotics-related activities, Forum Energy Technologies positions itself as a manufacturing and technology partner to a wide range of energy and industrial customers. Its global operations, segment structure and long-term FET 2030 plan frame the company’s approach to growth and capital allocation.