Welcome to our dedicated page for Forum Energy Technologies news (Ticker: FET), a resource for investors and traders seeking the latest updates and insights on Forum Energy Technologies stock.
Forum Energy Technologies Inc (FET) provides essential updates for stakeholders tracking developments in oilfield services and engineered energy solutions. This dedicated news hub aggregates official announcements, strategic initiatives, and operational milestones from the global provider of drilling, completions, and production technologies.
Investors and industry professionals will find timely updates on FET's earnings reports, product launches, and strategic partnerships across its Drilling & Completions and Artificial Lift & Downhole segments. The curated collection features verified information about equipment innovations, safety advancements, and market expansions relevant to upstream operations.
Our news monitoring covers FET's technological developments in artificial lift systems, downhole tools, and renewable energy applications. Stay informed about regulatory compliance updates, leadership changes, and sustainability initiatives impacting this Houston-based manufacturer's global operations.
Bookmark this page for direct access to FET's latest financial disclosures, manufacturing updates, and service expansions. Check regularly for authoritative coverage of the company's progress in enhancing operational efficiency for energy producers worldwide.
Forum Energy Technologies (NYSE: FET) has scheduled its first quarter 2025 earnings conference call for Friday, May 2, 2025, at 10:00 a.m. Central Time. The company will release its Q1 2025 earnings report before the conference call.
The earnings call will be accessible through a webcast on FET's Investor Relations website. Participants wanting to ask questions during the call must register through the company's IR website to receive dial-in numbers and a unique PIN. A replay of the call will be available on the same website starting May 2, 2025, at approximately 5:00 p.m. Central Time.
FET operates globally in the oil, natural gas, industrial, and renewable energy sectors, providing solutions to enhance energy exploration and production safety and efficiency. The company maintains manufacturing, distribution, and service facilities worldwide, with headquarters in Houston, TX.
Forum Energy Technologies (NYSE: FET) reported Q4 2024 financial results with revenue of $201.0M, adjusted EBITDA of $22.2M, and adjusted net loss of $5.9M. Revenue aligned with analyst expectations, while gross profit margins came in slightly below forecasts. The company achieved adjusted EBITDA margins of 11.0%, slightly below expectations.
Notable highlights include strong free cash flow of $56.9M, representing a sequential increase of $32.4M. The Artificial Lift and Downhole segment showed growth with revenue increasing 6.8% sequentially to $89.9M. The company has also initiated its previously announced $75.0M share repurchase program.
Forum Energy Technologies (NYSE: FET) reported full-year 2024 revenue of $816 million, marking a 10% year-over-year increase, with orders reaching $780 million and a book-to-bill ratio of 96%. The company posted a net loss of $135 million for 2024, while achieving adjusted EBITDA of $100 million, up 49% from 2023.
Fourth quarter 2024 results showed revenue of $201 million and orders of $190 million. The quarter's net loss of $104 million included a non-cash intangible asset impairment of $119 million. The company generated strong operating cash flow of $92 million and free cash flow of $105 million for the year.
FET implemented a shareholder return program with $2 million in share repurchases in January 2025 and announced 2025 adjusted EBITDA guidance of $85-105 million. The company expects global drilling and completion activity to decline 2-5% in 2025 but aims to offset this through market share gains.
Forum Energy Technologies (NYSE: FET) announced that C. Christopher Gaut will retire from the FET Board of Directors at the end of his term, not seeking re-election at the 2025 annual meeting. Gaut's journey with FET began in 2006 as a director of Forum Oilfield Technologies. After retiring as CFO of Halliburton in 2010, he developed the strategy that led to FET's creation and guided the company through its 2012 IPO as CEO and Board Chairman.
Michael McShane, FET's Lead Independent Director, acknowledged Gaut's important role in founding FET and his leadership through various industry cycles. Notably, Gaut continued serving on the Board after stepping down as CEO in 2022 to ensure a smooth leadership transition.
Forum Energy Technologies (NYSE: FET) has scheduled its fourth quarter and full year 2024 earnings conference call for Friday, February 21, 2025, at 10:00 a.m. Central Time. The company will release its earnings report before the conference call.
The call will be accessible through a webcast on FET's Investor Relations website. Participants wanting to ask questions during the call need to register through the company's IR website to receive dial-in numbers and a unique PIN. A replay of the call will be available on the same website starting at approximately 5:00 p.m. Central Time on February 21, 2025.
FET operates globally in the oil, natural gas, industrial, and renewable energy sectors, providing solutions to enhance energy exploration and production safety and efficiency. The company maintains manufacturing, distribution, and service facilities worldwide.
Forum Energy Technologies (NYSE: FET) announced that board member Leslie A. Beyer has been nominated to serve as Assistant Secretary for Land and Minerals Management in the U.S. Department of Interior (DOI). Upon Senate confirmation, Beyer would oversee key DOI agencies including the Bureau of Land Management, Office of Surface Mining Reclamation and Enforcement, Bureau of Ocean Energy Management, and Bureau of Safety and Environmental Enforcement.
Beyer, who joined FET's Board in December 2023, serves on the company's Nominating, Governance & Sustainability Committee and the Compensation and Human Capital Committee. FET's President and CEO Neal A. Lux praised Beyer's leadership abilities and industry commitment, noting her experience in addressing key energy issues.
Forum Energy Technologies (NYSE: FET) has announced its participation in the upcoming Sidoti Virtual Micro Cap Conference. President and CEO Neal Lux, along with Executive VP and CFO Lyle Williams, will present on Wednesday, January 22, 2025, at 11:30 a.m. Eastern Time.
The presentation will be accessible via live webcast, with presentation slides available on FET's Investor Relations webpage. The company will also conduct virtual one-on-one investor meetings on January 22-23, 2025.
FET operates globally in the oil, natural gas, industrial, and renewable energy sectors, providing solutions to enhance energy exploration and production safety and efficiency. The company maintains manufacturing, distribution, and service facilities worldwide, with headquarters in Houston, TX.
Forum Energy Technologies (NYSE: FET) has announced a $75 million share repurchase program authorized by its Board of Directors. The program's execution is subject to a Leverage Ratio requirement of 1.5x and will not commence until this threshold is met. Share repurchases are to 50% of FET's annual Adjusted Net Cash Flow to Equity.
Additionally, FET completed sale-leaseback transactions of two Texas manufacturing facilities, generating net proceeds of $20 million. The company will maintain operations at these facilities through long-term lease agreements.
Forum Energy Technologies (NYSE:FET) has announced its participation in the upcoming Virtual Investor Summit Microcap Event on November 21st. The company, which manufactures equipment for oil, natural gas, industrial, and renewable energy sectors, will deliver a presentation from 11:30 AM to 12:00 PM ET.
The event will showcase 40 micro-cap companies with catalysts and strong market performance. FET will be available for one-on-one meetings throughout the day. The presentation will feature live Q&A sessions and is complimentary for qualified investors, with access available through the provided webcast link.
Forum Energy Technologies (NYSE: FET) has successfully closed a $100 million senior secured bond offering with a 10.5% interest rate, maturing in November 2029. The bonds were issued at par, and the proceeds, along with cash on hand, were used to repay borrowings from the Variperm Energy Services acquisition and to fully redeem outstanding 9.000% Convertible Senior Secured Notes due 2025. CEO Neal Lux highlighted that this offering strengthens the company's balance sheet and provides flexibility for strategic investments, including M&A and share repurchases, while maintaining focus on reducing net debt and conservative leverage.
