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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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 (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

FET Extends $179 Million Bank Credit Facility to September 2026

Forum Energy Technologies' (FET) CEO Chris Gaut on Q2 2021 Results - Earnings Call Transcript

Forum Energy (FET) delivered earnings and revenue surprises of -52.00% and 5.69%, respectively, for the quarter ended June 2021. Do the numbers hold clues to what lies ahead for the stock?

Forum Energy Technologies (FET) Reports Q2 Loss, Tops Revenue Estimates

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced second quarter 2021 revenue of $137 million, an increase of $23 million from the first quarter 2021. Net loss for the quarter was $22 million, or $3.87 per diluted share, compared to a net loss of $30 million, or $5.28 per diluted share, for the first quarter 2021. Excluding $7 million, or $1.21 per share of special items, adjusted net loss was $2.66 per diluted share in the second quarter 2021, compared to an

Forum Energy Technologies Announces Second Quarter 2021 Results

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.

Forum Energy Technologies (FET) May Report Negative Earnings: Know the Trend Ahead of Next Week's Release

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) announced today that it will host its second quarter 2021 earnings conference call at 10:00 AM CDT on Friday, August 6, 2021. Forum will issue a press release regarding its second 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 8579755. The call will also be broadcast

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

The completion and drilling activity upsurge following the energy price recovery will lead to FET's top-line growth. The company's focus on shorter life cycle products is paying off due to the replacement and upgrade cycle of the component products.

Forum Energy Technologies Is Already On The Move

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced the appointment of Dr. Emily Reichert, Ph.D. to its Board of Directors. Dr. Reichert will also serve as a member of the Nominating, Governance and Sustainability Committee. In connection with Dr. Reichert's appointment, the Board increased its size to eight directors. Dr. Reichert currently serves as Chief Executive Officer of Greentown Labs, North America's largest climate tech startup incubator. She has led

Forum Energy Technologies Announces Appointment of Dr. Emily Reichert, Ph.D., CEO of Greentown Labs, to Its Board of Directors

Forum Energy Technologies' (FET) CEO Chris Gaut on Q1 2021 Results - Earnings Call Transcript

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced first quarter 2021 revenue of $115 million, an increase of $2 million from the fourth quarter 2020. Net loss for the quarter was $30 million, or $5.28 per diluted share, compared to a net loss of $33 million, or $5.85 per diluted share, for the fourth quarter 2020. Excluding $8 million, or $1.33 per share of special items, adjusted net loss was $3.95 per diluted share in the first quarter 2021, compared to an

Forum Energy Technologies Announces First Quarter 2021 Results

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) announced today that it will host its first quarter 2021 earnings conference call at 10:00 AM CDT on Friday, May 7, 2021. Forum will issue a press release regarding its first 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 1008319. The call will also be broadcast throu

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

Forum Energy (FET) enters a partnership agreement with Deepsea Technologies to represent its Brazil-based operations, and receive business development and engineering support in the country.

Forum Energy, Deepsea Technologies Team Up for Tech Support

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 may not translate into further price increase in the near term.

Forum Energy (FET) Surges 7.4%: Is This an Indication of Further Gains?

Forum Energy Technologies, Inc. (FET) CEO Chris Gaut on Q4 2020 Results - Earnings Call Transcript

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced fourth quarter 2020 revenue of $113 million, an increase of $9 million from the third quarter 2020. Orders received in the quarter increased by $32 million to $124 million. Net loss for the quarter was $33 million, or $5.85 per diluted share, compared to a net loss of $22 million, or $3.86 per diluted share, for the third quarter 2020. Excluding $6 million, or $1.05 per share of special items, adjusted net los

Forum Energy Technologies Announces Fourth Quarter 2020 Results

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) announced today that it will host its fourth quarter and full year 2020 earnings conference call at 10:00 AM CST on Wednesday, February 24, 2021. Forum will issue a press release regarding its fourth quarter and full year 2020 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 1286195

Forum Energy Technologies Announces Timing of Fourth Quarter and Full Year 2020 Earnings Release and Conference Call

Forum (FET) sells its ABZ and Quadrant-related assets to Anvil and Smith-Cooper to significantly improve its liquidity and financial flexibility.

Forum (FET) Completes $105M Asset Sale to Anvil and Smith-Cooper

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced that on December 31, 2020 it completed the sale of assets associated with its ABZ and Quadrant valve brands to Anvil and Smith-Cooper International. Total consideration for the transaction was $105 million in cash. As part of the transaction, Anvil and Smith-Cooper will employ the ABZ and Quadrant employees primarily located at the operations located in Madison, Kansas and Broussard, Louisiana. Cris Gaut, Foru

Forum Energy Technologies Divests ABZ and Quadrant Valve Brands

Forum Energy Technologies, Inc. (FET) CEO Christopher Gaut on Q3 2020 Results - Earnings Call Transcript

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced third quarter 2020 revenue of $104 million, a decrease of $10 million from the second quarter 2020. Orders received in the quarter increased by $7 million to $92 million. Net loss for the quarter was $22 million, or $0.19 per diluted share, compared to a net loss of $5 million, or $0.05 per diluted share, for the second quarter 2020. Excluding $12 million, or $0.11 per share of special items, adjusted net loss

Forum Energy Technologies Announces Third Quarter 2020 Results

Analysts Estimate Forum Energy Technologies (FET) to Report a Decline in Earnings: What to Look Out for

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) (“Forum” or the “Company”) announced today that its Board of Directors has approved a 1-for-20 reverse stock split of the Company's issued and outstanding shares of common stock, par value $0.01 per share, accompanied by a corresponding decrease in the Company's authorized shares of common stock (the “Reverse Stock Split”), such that, following the consummation of the Reverse Stock Split, the number of authorized shares of co

Forum Energy Technologies, Inc. Announces Reverse Stock Split

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) announced today that it will host its third quarter 2020 earnings at 9:00 AM CDT on Friday, November 6, 2020. Forum will issue a press release regarding its third quarter 2020 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 6796418. The call will also be broadcast through the Inves

Forum Energy Technologies Announces Timing of Third Quarter 2020 Earnings Release and Conference Call

Forum Energy Technologies, Inc. (FET) CEO Cris Gaut on Q2 2020 Results - Earnings Call Transcript

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