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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Forum Energy Technologies, Inc. (FET) Q4 2023 Earnings Call Transcript

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced fourth quarter 2023 revenue of $185 million, a $6 million increase from the third quarter. The fourth quarter net loss was $17 million, or $1.64 per diluted share, compared to third quarter net income of $8 million, or $0.77 per diluted share. Excluding $9 million of foreign exchange losses and $4 million of transaction and other nonrecurring items, cumulatively $1.25 per share, adjusted net loss was $0.39 per.

Forum Energy Technologies Announces Fourth Quarter and Full Year 2023 Results and Outlook

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) announced today that it will host its fourth quarter and full year 2023 earnings conference call at 10:00 a.m. Central Time on Friday, March 1, 2024. FET delayed its fourth quarter and full year 2023 earnings release and investor conference call to allow time to assess valuation allowance reserves in an international jurisdiction and quantify the potential impact to income tax and net income. After careful review and analysis.

Forum Energy Technologies Reschedules Fourth Quarter and Full Year 2023 Earnings Conference Call

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced that it will delay the issuance of its fourth quarter and full year 2023 earnings release and investor conference call. Additional time is required to quantify, if any, the impact to income tax and net income from adjusting valuation allowance reserves in an international jurisdiction. No meaningful impact to revenue, adjusted EBITDA, or free cash flow is expected. FET expects to issue its fourth quarter and f.

Forum Energy Technologies to Delay Issuance of Fourth Quarter and Full Year 2023 Earnings Release and Investor Conference Call; Provides Preliminary Results and 2024 Guidance

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) announced today that it will host its fourth quarter and full year 2023 earnings conference call at 10:00 a.m. Central Time on Tuesday, February 20, 2024. FET will issue a press release reporting its fourth quarter and full year 2023 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. Participants who want to ask a question during the call shoul.

Forum Energy Technologies Announces Timing of Fourth Quarter and Full Year 2023 Earnings Conference Call

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced it has completed the acquisition of Variperm Energy Services (“Variperm”), a leading manufacturer of customized downhole technology solutions, providing sand and flow control products for heavy oil applications. Total consideration for the acquisition consisted of $150 million of cash and 2 million shares of FET's common stock, subject to customary purchase price adjustments. “This accretive acquisition enhanc.

Forum Energy Technologies Completes Acquisition of Variperm Energy Services

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced that it has received approval from the Canadian Competition Bureau to proceed with its planned acquisition of Variperm Energy Services. FET announced on November 2, 2023, its agreement to acquire Variperm Energy Services for consideration of $150 million of cash (subject to customary purchase price adjustments) and 2 million shares of FET's common stock, reflecting a valuation of approximately 3.7x Variperm's.

Forum Energy Technologies Receives Approval to Proceed with Variperm Acquisition from Canadian Competition Bureau

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) announced today that Neal Lux, President and Chief Executive Officer, and Lyle Williams, Executive Vice President and Chief Financial Officer, are scheduled to present at the Emerging Growth Conference on Thursday, December 7, 2023 at 12:35 p.m. Eastern Time. In order to attend the presentation, interested parties should register at the following link: https://goto.webcasts.com/starthere.jsp?ei=1641026&tp_key=4a8f04de2b&a.

Forum Energy Technologies to Present at the Emerging Growth Conference

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced the appointment of Ms. Leslie Beyer to its board of directors. Ms. Beyer will also serve as a member of the Nominating, Governance and Sustainability Committee. Ms. Beyer is the former Chief Executive Officer of the Energy Workforce and Technology Council (EWTC), the global energy technology and services association representing over 650,000 employees in the energy workforce. Before joining the EWTC, Ms. Beyer.

Forum Energy Technologies Announces Appointment of Ms. Leslie Beyer to its Board of Directors

Forum Energy Technologies, Inc. (NYSE:FET ) Q3 2023 Earnings Conference Call November 3, 2023 11:00 AM ET Company Participants Rob Kukla – Director-Investor Relations Neal Lux – President and Chief Executive Officer Lyle Williams – Chief Financial Officer Conference Call Participants John Daniel – Daniel Energy Partners Jeff Robertson – Water Tower Research Daniel Pickering – Pickering Energy Partners Operator Good morning, ladies and gentlemen, and welcome to the Forum Energy Technologies Third Quarter 2023 Earnings Conference Call. My name is Giji, and I will be your coordinator for today's call.

Forum Energy Technologies, Inc. (FET) Q3 2023 Earnings Call Transcript

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) (“FET”) today announced that it has entered into a definitive agreement to acquire Variperm Energy Services (“Variperm”) for consideration of $150 million of cash and 2 million shares of FET's common stock, reflecting a valuation of approximately 3.7x Variperm's trailing twelve months EBITDA as of September 30, 2023. The transaction is expected to close in January 2024 and is subject to customary closing conditions and Canadi.

Forum Energy Technologies Announces Transformative Acquisition of Variperm Energy Services

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced third quarter 2023 revenue of $179 million, a 3% sequential decrease. Orders increased 7% sequentially to $199 million, with a book-to-bill ratio of 111%. The third quarter 2023 net income was $8 million, or $0.77 per diluted share, compared to a net loss of $7 million, or $0.64 per diluted share, for the second quarter 2023. Pre-tax foreign exchange gains of $8 million comprise the majority of special items i.

Forum Energy Technologies Announces Third Quarter 2023 Results

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) announced today that it will host its third quarter 2023 earnings conference call at 10:00 a.m. Central Time on Friday, November 3, 2023. FET will issue a press release reporting its third quarter 2023 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. Participants who want to ask a question during the call should register on FET's Investor Rel.

Forum Energy Technologies Announces Timing of Third Quarter 2023 Earnings Conference Call

Forum Energy Technologies, Inc. (NYSE:FET ) Q2 2023 Earnings Conference Call August 4, 2023 11:00 AM ET Company Participants Rob Kukla - Director, Investor Relations Neal Lux - President and Chief Executive Officer Lyle Williams - Chief Financial Officer Conference Call Participants John Daniel - Daniel Energy Partners Daniel Pickering - Pickering Energy Partners Operator Good morning, ladies and gentlemen. Welcome to the Forum Energy Technologies Second Quarter 2023 Earnings Conference Call.

Forum Energy Technologies, Inc. (FET) Q2 2023 Earnings Call Transcript

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced second quarter 2023 revenue of $185 million, an 8% year-over-year increase. Orders were $186 million, with a book-to-bill ratio of 100%. The second quarter 2023 net loss was $7 million, or $0.64 per diluted share, compared to a net loss of $3 million, or $0.34 per diluted share, for the first quarter 2023. Excluding $8 million, or $0.74 per diluted share, for special items, the quarter's adjusted net income wa.

Forum Energy Technologies Announces Second Quarter 2023 Results

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) announced today that it will host its second quarter 2023 earnings conference call at 10:00 a.m. Central Time on Friday, August 4, 2023. FET will issue a press release reporting its second quarter 2023 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. Participants who want to ask a question during the call should register on FET's Investor Rel.

Forum Energy Technologies Announces Timing of Second Quarter 2023 Earnings Conference Call

Forum Energy Technologies is expected to see a better time in the coming days, with the US drilling market set to pick up pace in 2H 2023. FET's strategy to diversify further in the international markets should pay dividends over the medium term, and the offshore market growth would put the company on a rapid growth path. Despite short-term concerns, such as a slowdown in order bookings in Q1, the stock is relatively undervalued versus its peers, making it a potential "buy" for investors.

Forum Energy Shares Encouraging Scenarios

Forum Energy Technologies, Inc. (NYSE:FET ) Q1 2023 Earnings Conference Call May 5, 2023 11:00 AM ET Company Participants Rob Kukla - Director, IR Neal Lux - President, CEO & Director David Williams - EVP & CFO Conference Call Participants John Daniel - Daniel Energy Partners Daniel Pickering - Pickering Energy Partners Operator Good morning, ladies and gentlemen, and welcome to the Forum Energy Technologies' First Quarter 2023 Earnings Conference Call. My name is Gigi, and I'll be your core leader for today's call.

Forum Energy Technologies, Inc. (FET) Q1 2023 Earnings Call Transcript

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced first quarter 2023 revenue of $189 million, a 22% year-over-year increase and a $2 million sequential decrease. Orders received were $179 million, with a book-to-bill ratio of 95%. The first quarter 2023 net loss was $4 million, or $0.34 per diluted share, compared to net loss of $13 million, or $2.22 per diluted share, for the fourth quarter 2022. Excluding $4 million, or $0.43 per diluted share, for special.

Forum Energy Technologies Announces First Quarter 2023 Results and Reaffirms 2023 Guidance

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) announced today that it will host its first quarter 2023 earnings conference call at 10:00 a.m. Central Time on Friday, May 5, 2023. FET will issue a press release regarding its first quarter 2023 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.

Forum Energy Technologies Announces Timing of First Quarter 2023 Earnings Conference Call

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) has been awarded an approximately $25 million contract to design, engineer, and supply four electrostatic desalter systems for an onshore project at the Safaniyah oil field, Kingdom of Saudi Arabia. The desalter systems will utilize FET's EDGETM desalting technology, ForuMixTM high efficiency multiphase mixer technology, as well as in-house manufacturing capabilities at FET's facility in Dammam, Saudi Arabia.

Forum Energy Technologies Awarded Approximately $25 Million Contract to Provide Desalter Systems to Saudi Aramco

Forum Energy Technologies, Inc. (NYSE:FET ) Q4 2022 Earnings Conference Call February 21, 2023 11:00 AM ET Company Participants Rob Kukla - Director, IR Neal Lux - President and CEO Lyle Williams - CFO Conference Call Participants John Daniel - Daniel Energy Partners Dan Pickering - Pickering Energy Partners Operator Good morning, ladies and gentlemen, and welcome to the Forum Energy Technologies Fourth Quarter 2022 Earnings Conference Call. My name is Gigi, and I will be your coordinator for today's call.

Forum Energy Technologies, Inc. (FET) Q4 2022 Earnings Call Transcript

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced fourth quarter 2022 revenue of $191 million, a $9 million increase from the third quarter 2022. Orders received were $215 million, with a book-to-bill ratio of 113%. The fourth quarter net loss was $13 million, or $2.22 per diluted share, compared to net income of $17 million, or $1.82 per diluted share, for the third quarter 2022. Excluding $10 million, or $1.

Forum Energy Technologies, Inc. Announces Fourth Quarter and Full Year 2022 Results and Outlook

Forum Energy Technologies Announces Timing of Fourth Quarter and Full Year 2022 Earnings Conference Call

HOUSTON--( BUSINESS WIRE )--Forum Energy Technologies, Inc. (NYSE: FET) today announced the satisfaction of the mandatory conversion requirements under its 9.00% Convertible Senior Secured Notes due August 2025 (the “2025 Notes”). In connection with the conversion, $122.8 million or 47.8% of the 2025 Notes will convert into approximately 4.5 million shares of FET common stock on January 3, 2023, with a settlement date of January 5, 2023. The remaining approximately $134.2 million in aggregate principal of the 2025 Notes are not subject to any optional or further mandatory conversion provisions. FET's annualized interest payments will decline by over $11 million following the conversion.

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