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Forum Energy Tech (FET)
NYSE:FET
Earnings Data
Report Date
May 01, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.06Last Year’s EPS
-0.12Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 20, 2025
|% Change Since: -3.74%
|Next Earnings Date:May 01, 2025
Earnings Call Sentiment|Positive
Forum Energy Technologies demonstrated strong financial performance with significant revenue, EBITDA, and free cash flow growth, along with successful debt reduction and new product innovations. However, the company faces challenges in the form of expected market activity declines, a significant impairment charge, and potential impacts from tariffs and geopolitical uncertainties.Company Guidance
During Forum Energy Technologies' earnings call, the company provided detailed guidance for 2025, indicating a cautious outlook due to expected market activity declines driven by geopolitical and macroeconomic uncertainties. Despite anticipating a 2% to 5% decrease in global drilling and completion activity, Forum aims to mitigate these impacts through its "beat the market" strategy, which focuses on gaining market share, particularly in high-margin product lines. The company forecasts 2025 adjusted EBITDA to range between $85 million and $105 million. Free cash flow is projected to be between $40 million and $60 million, with plans to allocate 50% towards debt reduction and 50% towards strategic investments, including share repurchases. Forum also highlighted significant achievements in 2024, such as a 10% increase in revenue, a 49% rise in EBITDA, and a 42% incremental margin improvement. The company successfully executed a $100 million bond offering for debt refinancing and announced a $75 million share repurchase program, reflecting confidence in consistent cash flow generation. Additionally, Forum has been actively developing new technologies like the FR 120 SC Iron Roughneck and the Powertron heat transfer unit, positioning itself as an industry innovator.Revenue and EBITDA Growth
Forum Energy Technologies reported a revenue increase of 10% and an EBITDA increase of 49% for the year 2024, resulting in a 42% incremental margin and over 300 basis point margin improvement.
Record Free Cash Flow
The company generated $105 million in free cash flow, the highest annual amount since 2015 and $35 million higher than the top end of their latest guidance.
Debt Reduction and Strong Liquidity
Net debt is down 30% from the previous year, significantly improving net leverage from eleven to just under one and a half times. Total liquidity stands at $106 million.
Share Repurchase Program
Forum Energy Technologies announced a $75 million share repurchase program, reflecting confidence in generating consistent free cash flow in 2025 and beyond.
International Revenue Growth
International revenue grew by almost 42%, leveraging strategically located manufacturing facilities.
New Product Innovations
The company introduced several new products, including the FR 120 SC Iron Roughneck, FastConnect system, Powertron heat transfer unit, and Unity ROV remote control technology.
Safety Achievements
Significant improvement in safety performance and culture, exceeding expectations and achieving world-class levels.
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FET Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FET Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 20, 2025 | $18.99 | $18.28 | -3.74% |
| Oct 31, 2024 | $13.98 | $13.96 | -0.14% |
| Aug 01, 2024 | $17.33 | $16.57 | -4.39% |
| May 02, 2024 | $19.39 | $18.51 | -4.54% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Forum Energy Tech (FET) report earnings?
Forum Energy Tech (FET) is schdueled to report earning on May 01, 2025, TBA Not Confirmed.
What is Forum Energy Tech (FET) earnings time?
Forum Energy Tech (FET) earnings time is at May 01, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FET EPS forecast?
FET EPS forecast for the fiscal quarter 2025 (Q1) is 0.06.
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