Forum Energy Technologies

Forum Energy Technologies, Inc. designs, manufactures, and distributes products to the oil and natural gas industry. The firm operates through three segments: Drilling & Downhole, Completions, and Production. The Drilling & Downhole segment designs, manufactures, and supplies products, and provides related services to the drilling, downhole, and subsea markets, as well as other markets, such as alternative energy, defense, and communications. This segment offers drilling technologies consisting of capital equipment and a line of products consumed in the drilling, downhole technologies, such as cementing and casing tools, and protection products for artificial lift equipment and cables, and subsea remotely operated vehicles and trenchers, specialty components and tools, and complementary subsea technical services. The Completions segment provides products and related services to the coiled tubing, stimulation, and intervention markets. This segment offers pressure pumping, hydraulic fracturing and flowback services, including hydraulic fracturing pumps, cooling systems, flow iron, wireline cable, and pressure control equipment, as well as related recertification and refurbishment services, and coiled tubing products, such as coiled tubing strings and line pipes. The Production segment designs, manufactures, and supplies products, and provides related equipment and services to the production and infrastructure markets. The company was founded in 2005 and is headquartered in Houston, TX.

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Earnings data Q4 2024

Forum Energy Technologies (FET) reports robust Q4 performance and growth outlook

Forum Energy Technologies (FET) showcased strong financial performance, highlighted key strengths in inventory management and international market focus, while addressing challenges in cost variances and supply chain issues. The company is poised for growth with opportunities in conversions, M&A, and efficient capital deployment.

Forum Energy Technologies (FET) exceeds Q1 targets, eyes global growth

Forum Energy Technologies (FET) delivered strong Q1 performance, exceeding commitments
Despite soft U.S. market conditions, FET shows growth potential in international markets
Maintaining a healthy cash position and exploring strategic opportunities for growth
Balancing challenges with opportunities to drive future revenue and profitability

Forum Energy Technologies (FET) resilient in Q2 amidst market challenges

Forum Energy Technologies (FET) navigated challenging market conditions, showcasing resilience and strategic focus on growth.
International markets and new product development are key drivers of revenue growth and market share expansion for FET.
Despite revised EBITDA guidance, FET remains optimistic about improving working capital and generating free cash flow for strategic initiatives.

Forum Energy Technologies acquires Variperm, eyes revenue growth and debt reduction

FET's Q3 performance showed revenue growth and strong book-to-bill ratios.
Variperm acquisition brings potential for international expansion and revenue growth.
Challenges include soft U.S. market conditions and limited cost synergies from integration.
Opportunities lie in future acquisitions, revenue growth from Variperm, and debt reduction plans.

Forum Energy Technologies reports solid 2023 performance and strategic growth

Forum Energy Technologies (FET) delivered strong financial performance in 2023, focusing on debt reduction, new product development, and international expansion.
Despite market challenges, FET showcased resilience with revenue and EBITDA growth, emphasizing cash flow management and shareholder returns.
The Variperm acquisition and innovative product solutions position FET for profitability and efficiency gains, with a strategic focus on sustainable growth.
Opportunities for revenue growth, debt management, and global expansion present a positive outlook for FET in 2024, supported by a disciplined financial approach.

Forum Energy Technologies reports robust Q1 performance and eyes international growth

FET's Q1 results reflect strong performance and strategic focus on growth
Challenges in certain segments and forecasting are being addressed proactively
Opportunities for expansion and innovation present avenues for future growth
Overall, FET remains on track to meet full-year guidance and drive shareholder value

Forum Energy (FET) excels in Q2, eyes Middle East growth

Forum Energy Technologies (FET) demonstrated resilience and growth in Q2 2024, driven by market share gains, international sales, and strategic acquisitions.
The company's strong cash position, focus on debt reduction, and commitment to returning cash to shareholders position it well for future growth and value creation.
Despite challenges in the U.S. market, Forum Energy Technologies (FET) remains optimistic about opportunities in the Middle East and offshore sectors, with a focus on cash generation and margin expansion.

Forum Energy Technologies (FET) reports strong Q3 performance and strategic outlook

Forum Energy Technologies (FET) showcased strong financial performance and innovation in Q3 2024, with a focus on debt refinancing, increased free cash flow forecast, and new product introductions. While facing challenges from volatile commodity prices and U.S. market softness, FET aims to leverage international and offshore activities to navigate these hurdles. The company's strategic focus on free cash flow, shareholder returns, and market expansion positions it for future growth and success.

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HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced third quarter 2022 revenue of $182 million, an increase of $10 million from the second quarter 2022.

Forum Energy Technologies Announces Third Quarter 2022 Results and Outlook

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) announced today that it has changed the date and time of its previously announced third quarter 2022 earnings conference call to 11:00 a.m.

Forum Energy Technologies Announces Date and Time Change For Third Quarter 2022 Earnings Release and Conference Call

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) announced today that it will host its third quarter 2022 earnings conference call at 10:00 a.m. Central Standard Time on Friday, November 11, 2022. FET will issue a press release regarding its third quarter 2022 earnings prior to the conference call. The call will be webcast through the Investor Relations link on FET's website at ir.f-e-t.com. Important note regarding the process for dialing in to the conference call: Partici

Forum Energy Technologies Announces Timing of Third Quarter 2022 Earnings Release and Conference Call

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The energy industry's choice of consumable items over the capital components should favor Forum Energy in the short term. FET's valve and production equipment bookings grew substantially from Q1 to Q2.

Forum Energy: Consumables Demand, Booking Growth Can Accelerate Returns

Forum Energy Technologies, Inc. (NYSE:FET ) Q2 Earnings Conference Call August 5, 2022 11:00 AM ET Company Participants Lyle Williams - CFO Neal Lux - President and CEO Conference Call Participants John Daniel - Daniel Energy Partners Daniel Pickering - Pickering Energy Partners Peter Ehret - ERS Operator Good morning, ladies and gentlemen, and welcome to the Forum Energy Technologies Second Quarter 2022 Earnings Conference Call. My name is Lilia, and I will be your coordinator for today's call.

Forum Energy Technologies, Inc. (FET) CEO Neal Lux on Q2 2022 - Earnings Call Transcript

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced second quarter 2022 revenue of $172 million, an increase of $17 million from the first quarter 2022. Net income for the quarter was $9 million, or $1.15 per diluted share, compared to a net loss of $9 million, or $1.62 per diluted share, for the first quarter 2022. Excluding special items, adjusted net loss was $0.73 per diluted share in the second quarter 2022 compared to an adjusted net loss of $2.00 per dil

Forum Energy Technologies Announces Second Quarter 2022 Results

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) announced today that it will host its second quarter 2022 earnings conference call at 10:00 AM CDT on Friday, August 5, 2022. Forum will issue a press release regarding its second quarter 2022 earnings prior to the conference call. The call will be webcast through the Investor Relations link on Forum's website at ir.f-e-t.com. Please note that the process for dialing in for the call has changed. Participants who want to join

Forum Energy Technologies Announces Timing of Second Quarter 2022 Earnings Release and Conference Call

Forum Energy Technologies, Inc. (NYSE:FET ) Q1 2022 Earnings Conference Call May 6, 2022 11:00 AM ET Company Participants Lyle Williams – Chief Financial Officer Neal Lux – President and Chief Executive Officer Conference Call Participants Dan Pickering – Pickering Energy Partners John Daniel – Daniel Energy Operator Good morning, ladies and gentlemen, and welcome to the Forum Energy Technologies First Quarter 2022 Earnings Conference Call. My name is Kirby, and I will be your coordinator for today's call.

Forum Energy Technologies' (FET) CEO Neal Lux on Q1 2022 Results - Earnings Call Transcript

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced first quarter 2022 revenue of $155 million, an increase of $7 million from the fourth quarter 2021. Net loss for the quarter was $9 million, or $1.62 per diluted share, compared to a net loss of $20 million, or $3.46 per diluted share, for the fourth quarter 2021. Excluding special items, adjusted net loss was $2.00 per diluted share in the first quarter 2022 compared to an adjusted net loss of $2.23 per dilut

Forum Energy Technologies Announces First Quarter 2022 Results

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HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) announced today that it will host its first quarter 2022 earnings conference call at 10:00 AM CDT on Friday, May 6, 2022. Forum will issue a press release regarding its first quarter 2022 earnings prior to the conference call. To participate in the earnings conference call, please call 855-757-8876 within North America, or 631-485-4851 outside of North America. The access code is 8657545. The call will also be broadcast throu

Forum Energy Technologies Announces Timing of First Quarter 2022 Earnings Release and Conference Call

Forum Energy Technologies, Inc. (FET) CEO Neal Lux on Q4 2021 Results - Earnings Call Transcript

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced fourth quarter 2021 revenue of $148 million, an increase of $7 million from the third quarter 2021. Orders received in the quarter were $160 million. Net loss for the quarter was $20 million, or $3.46 per diluted share, compared to a net loss of $12 million, or $2.05 per diluted share, for the third quarter 2021. Excluding $7 million, or $1.23 per share of special items, adjusted net loss was $2.23 per diluted

Forum Energy Technologies Announces Full Year and Fourth Quarter 2021 Results

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced that fourth quarter 2021 operating results are expected to be below previously provided guidance levels. Results in the fourth quarter were negatively affected by further supply chain disruptions, which caused both revenue to be deferred and costs to increase. In addition, the company incurred excess logistics and freight costs in an effort to mitigate these supply chain disruptions. Also, medical benefit cost

Forum Energy Technologies Provides Fourth Quarter 2021 Operational Update and Announces Timing of Earnings Conference Call

In Q3, FET's Drilling & Downhole book-to-bill ratio reached 1.3x, which indicates strong revenue visibility and outlook. In the medium to long term, the company is re-strategizing on the international offshore wind farm installation and deepsea product offerings.

Forum Energy Technologies: Steady Order Book Builds The Pillar

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced that as part of the company's executive management succession planning process, its Board of Directors appointed Mr. Neal Lux as President and Chief Executive Officer, effective February 18, 2022. Mr. Lux currently serves as Executive Vice President and Chief Operating Officer. Mr. C. Christopher Gaut, the current Chairman, President and Chief Executive Officer, will become Executive Chairman at that time. The

Forum Energy Technologies Announces CEO Succession

Forum Energy Technologies, Inc. (FET) CEO Chris Gaut on Q3 2021 Results - Earnings Call Transcript

Forum Energy (FET) delivered earnings and revenue surprises of -69.17% and -6.00%, respectively, for the quarter ended September 2021. Do the numbers hold clues to what lies ahead for the stock?

Forum Energy Technologies (FET) Reports Q3 Loss, Lags Revenue Estimates

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced third quarter 2021 revenue of $141 million, an increase of $4 million from the second quarter 2021. Net loss for the quarter was $12 million, or $2.05 per diluted share, compared to a net loss of $22 million, or $3.87 per diluted share, for the second quarter 2021. Excluding special items, adjusted net loss was $2.25 per diluted share in the third quarter 2021 compared to an adjusted net loss of $2.66 per dilu

Forum Energy Technologies Announces Third Quarter 2021 Results

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced the appointment of Mr. Paul E. Rowsey III to its Board of Directors. Mr. Rowsey will also serve as a member of the Compensation Committee. In connection with Mr. Rowsey's appointment, the Board increased its size to nine directors. Mr. Rowsey is the former Executive Chairman of the Board of JLB Partners, a national developer, builder and manager of Class A multi-family assets in select markets in the United St

Forum Energy Technologies Announces Appointment of Paul E. Rowsey III to Its Board of Directors

Forum Energy (FET) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Will Forum Energy Technologies (FET) Report Negative Earnings Next Week? What You Should Know

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) announced today that it will host its third quarter 2021 earnings conference call at 10:00 AM CDT on Friday, November 5, 2021. Forum will issue a press release regarding its third quarter 2021 earnings prior to the conference call. To participate in the earnings conference call, please call 855-757-8876 within North America, or 631-485-4851 outside of North America. The access code is 4292575. The call will also be broadcast

Forum Energy Technologies Announces Timing of Third Quarter 2021 Earnings Release and Conference Call

Forum Energy (FET) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions could translate into further price increase in the near term.

Forum Energy (FET) Moves 6.4% Higher: Will This Strength Last?

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced that it has entered into an amendment to its asset-based revolving credit facility (the “Credit Facility”). The key elements of the amendment include: (i) the maturity has been extended, subject to certain exceptions, to September 2026; (ii) the facility size has been reduced from $250 million to $179 million; and (iii) interest rates on borrowings outstanding under the Credit Facility were modified to LIBOR p

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