Forum Energy ( (FET) ) has released its Q1 earnings. Here is a breakdown of the information Forum Energy presented to its investors.
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Forum Energy Technologies, Inc., headquartered in Houston, Texas, is a global manufacturing company that provides solutions to the oil, natural gas, industrial, and renewable energy sectors, focusing on enhancing safety, efficiency, and environmental impact.
In its first quarter of 2025, Forum Energy Technologies reported revenue of $193 million and a net income of $1 million, translating to $0.09 per diluted share. The company maintained its full-year free cash flow guidance, projecting between $40 and $60 million.
Key financial highlights include orders totaling $201 million with a book-to-bill ratio of 104%, adjusted EBITDA of $20 million, and operating cash flow of $9 million. The Drilling and Completions segment saw a 4% revenue increase, driven by a rebound in demand for completions equipment and subsea projects, while the Artificial Lift and Downhole segment experienced a 13% revenue decline due to reduced demand for valve products.
Despite facing economic uncertainty from U.S. tariff changes and OPEC+ supply growth, Forum Energy Technologies continues to manage costs and inventory to maximize cash flow and maintain its financial targets. The company remains committed to reducing net debt and repurchasing shares, with expectations of adjusted EBITDA ranging from $18 to $22 million for the second quarter of 2025.