Forum Energy Technologies Reports Strong Q2 2025 Results

Forum Energy ( (FET) ) has released its Q2 earnings. Here is a breakdown of the information Forum Energy presented to its investors.

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 industries, focusing on enhancing safety, efficiency, and environmental impact of operations.

In its latest earnings report, Forum Energy Technologies announced a revenue of $200 million for the second quarter of 2025, marking a 3% sequential increase. The company also reported a net income of $8 million, or $0.61 per diluted share, and an adjusted EBITDA of $21 million, reflecting a 2% sequential rise.

Key highlights from the report include a significant increase in orders amounting to $263 million, resulting in a book-to-bill ratio of 132% and the highest backlog in over a decade. The company also achieved positive free cash flow for the eighth consecutive quarter, generating $168 million over this period. Additionally, Forum Energy repurchased 579,000 shares for $11 million and raised its full-year free cash flow guidance to between $60 and $80 million.

The Drilling and Completions segment saw a 1% revenue increase to $117 million, driven by improved coiled line pipe sales and demand for drilling-related equipment. However, its adjusted EBITDA decreased by 8% due to an unfavorable product mix. Meanwhile, the Artificial Lift and Downhole segment experienced a 6% revenue increase to $83 million, with a 24% rise in adjusted EBITDA, attributed to higher demand for processing equipment and favorable product mix.

Looking ahead, Forum Energy Technologies remains optimistic, with plans to use its free cash flow to reduce net debt and continue share repurchases. Despite expectations of a downturn in industry activity, the company is confident in maintaining its full-year adjusted EBITDA forecast of approximately $85 million, supported by its strong backlog and cost-saving initiatives.