Forum Energy ( (FET) ) has released its Q4 earnings. Here is a breakdown of the information Forum Energy presented to its investors.
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Forum Energy Technologies, Inc. (NYSE: FET), headquartered in Houston, Texas, is a global manufacturing company providing advanced solutions across the oil, natural gas, industrial, and renewable energy sectors, focusing on enhancing operational safety, efficiency, and environmental impact.
In its latest earnings report, Forum Energy Technologies announced a notable 10% year-over-year revenue increase to $816 million for the full year 2024, alongside a substantial operating cash flow generation of $92 million. Despite these gains, the company recorded a net loss of $135 million, attributed largely to a significant intangible asset impairment.
Key financial metrics revealed a robust adjusted EBITDA of $100 million, marking a 49% rise from the previous year, driven by strategic acquisitions and operational efficiency. The company’s free cash flow reached $105 million, the highest since 2015, bolstered by the successful integration of the Variperm acquisition and a strong margin expansion.
Looking ahead, Forum Energy Technologies plans to focus on reducing net debt, making strategic investments, and continuing its share repurchase program. The company aims to capitalize on its market share growth strategy while navigating a challenging commodity price environment, with 2025 adjusted EBITDA guidance set between $85 and $105 million.
With a favorable long-term energy investment outlook, Forum Energy Technologies is poised to leverage its innovative solutions and global presence to drive future revenue and cash flow growth, despite anticipated declines in global drilling activities.
