Forum Energy reports Q3 EPS 27c, two estimates 19c

Reports Q3 revenue $196.2M, two estimates $194.4M. Neal Lux, CEO, remarked, “Our team achieved another strong quarter, demonstrating why FET is a great company and even better investment. We extended our track record of outperformance, delivered significant capital returns, and believe we remain an incredible value while poised for long-term growth. Our ‘Beat the Market’ strategy drove strong bookings and meaningful backlog growth. Revenue and EBITDA were at the high end of our guidance range. Our commercial and product development efforts allowed us to grow market share in a challenging environment. In addition, we exceeded free cash flow expectations and are raising 2025 guidance to between $70 and $80 million. By utilizing our global footprint, we generated strong bookings in the offshore and international markets, increasing backlog 21%. In addition, we accelerated cost savings efforts in the quarter, extending our annualized target by 50% to $15 million. We forecast fourth quarter adjusted EBITDA in the range of $19 to $23 million. Looking further ahead, we expect that our strong backlog, anticipated market share gains, and cost reductions will provide a tailwind in 2026.”