Forum Energy Technologies reported a sequential revenue decline but showed improved adjusted net income and EBITDA, driven by strong order intake and cost savings. The company raised its full-year free cash flow guidance, indicating a positive outlook despite a challenging market environment.
Orders of $240 million with a 122% book-to-bill ratio, representing the highest backlog in over ten years.
positiveAdjusted EBITDA increased 13% sequentially to $23 million.
positiveFull year 2025 free cash flow guidance increased to $70 - $80 million.
positiveShare repurchases of 635 thousand shares for $15 million.
positiveAchieved year-end net leverage ratio of 1.3 times ahead of schedule.
positiveRevenue decreased 2% sequentially to $196 million.
negativeReported a net loss of $21 million, or $1.76 per diluted share.
negativeDrilling and Completions segment revenue was flat sequentially at $117 million.
attentionArtificial Lift and Downhole segment revenue decreased 4% sequentially to $79 million.
negativeInventory levels decreased sequentially from $265 million to $248 million, but still represent a significant portion of assets.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Drilling and Completions | N/A | — | — | — |
Artificial Lift and Downhole | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
Our team achieved another strong quarter, demonstrating why FET is a great company and even better investment.
Our ‘Beat the Market’ strategy drove strong bookings and meaningful backlog growth.
By utilizing our global footprint, we generated strong bookings in the offshore and international markets, increasing backlog 21%.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.