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Forum Energy (FET)
NYSE:FET
Earnings Data
Report Date
Apr 30, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.42Last Year’s EPS
0.04Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a strongly positive operational and financial performance: revenue beats, sizable backlog growth (highest in 11 years, +46% year-to-date), strong free cash flow ($80M in 2025), effective cost saves (~$15M annualized) and meaningful share repurchases (~11% of shares). Management provided constructive 2026 guidance with modest revenue and notable EBITDA growth targets, alongside a fortified balance sheet and extended credit facility. Headwinds exist — tariffs remain, some product-mix and U.S. demand softness, tax noise and reliance on working capital/sale-leasebacks for cash — but these appear manageable relative to the company’s momentum, backlog, and margin/cost actions. Overall, highlights substantially outweigh lowlights.Company Guidance
Revenue Beat and Sequential Growth
Fourth quarter revenue of $202,000,000 exceeded the top end of guidance and increased 3% sequentially, outpacing a flat global rig count.
Record Backlog and Book-to-Bill Strength
Full-year book-to-bill of 113%; Subsea product line posted nearly 190% book-to-bill. Company entered 2026 with its highest year-end backlog in 11 years, up 46% since the start of 2025.
Strong Free Cash Flow and Balance Sheet Improvement
Generated $80,000,000 of free cash flow in 2025 (top end of guidance), reduced net debt by 28% to $107,000,000, ended year with net leverage of 1.2x and liquidity of $108,000,000 (including $73,000,000 available on revolver).
Disciplined Capital Returns
Returned $35,000,000 to shareholders via repurchases (~1,400,000 shares, ~11% of shares outstanding) and repurchased shares at an average price under $25 (about half of current share price at time of call).
Operational Cost Savings
Consolidated four manufacturing plants into two, delivering approximately $15,000,000 of ongoing annualized savings and contributing to margin and cost discipline.
Product Innovation and Commercialization
Commercialized 10 new products in 2025 (examples: Secura Series stage collars and SecuraSlim, DuraCoil 95, DuraLine manifold). Revenue per global rig has grown 20% since 2022 and increased again in 2025 despite a declining rig count.
Segment and International Strength
International and offshore revenue strength: international revenue increased ~78% (call commentary), Subsea revenue grew 25% in Q4 (ROV projects and rescue submarine order recognition). Coiled tubing revenue up 13%; drilling product line revenue up 11%.
Clear 2026 Financial Guidance
Full-year 2026 guidance: Revenue target around $808,880,000 (implying ~6% growth), EBITDA guidance $90,000,000–$110,000,000, adjusted net income $18,000,000–$38,000,000, and expected free cash flow of $55,000,000–$75,000,000 (converting ~65% of EBITDA).
Q1 2026 Guidance and Momentum
Q1 2026 guidance: revenue $190,000,000–$210,000,000 and EBITDA $21,000,000–$25,000,000 (midpoint EBITDA ~15% higher YoY despite a projected 5% decline in rig count), with expected positive free cash flow.
Financing Flexibility
Extended credit facility maturity to February 2031 with improved pricing and increased letters-of-credit capacity; total commitments and facility tenor provide flexibility for debt retirement, organic growth, and acquisitions.
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
FET Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 19, 2026 | $53.03 | $57.86 | +9.11% |
Oct 30, 2025 | $32.12 | $32.22 | +0.31% |
Aug 07, 2025 | $18.16 | $22.17 | +22.08% |
May 01, 2025 | $15.14 | $15.05 | -0.59% |
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.
FAQ
When does Forum Energy (FET) report earnings?
Forum Energy (FET) is schdueled to report earning on Apr 30, 2026, After Close (Confirmed).
What is Forum Energy (FET) earnings time?
Forum Energy (FET) earnings time is at Apr 30, 2026, After Close (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 2026 (Q1) is 0.42.