Stonegate Capital Partners Updates Coverage on Forum Energy Technologies, Inc. (FET) Q3 24
Forum Energy Technologies (NYSE: FET) reported Q3 2024 financial results with revenue of $207.8M, adjusted EBITDA of $25.8M, and adjusted net income of ($2.3M). The company's performance was largely in-line with market expectations, with revenues slightly below consensus estimates of $214.5M. Gross profit margins exceeded expectations, leading to stronger operating profits. The quarter saw positive developments including completed debt refinancing, a 9.0% increase in artificial lift and equipment segment orders, and a 5.6% quarter-over-quarter revenue growth in the Drilling and Completions segment to $123.6M.
Forum Energy Technologies (NYSE: FET) ha riportato i risultati finanziari del terzo trimestre 2024 con ricavi di $207.8M, EBITDA rettificato di $25.8M e utile netto rettificato di (2.3M). La performance dell'azienda è stata in gran parte in linea con le aspettative di mercato, con ricavi leggermente al di sotto delle stime di consenso di $214.5M. I margini di profitto lordo hanno superato le aspettative, portando a profitti operativi più forti. Durante il trimestre ci sono stati sviluppi positivi, tra cui il completamento del rifinanziamento del debito, un aumento dell'9.0% negli ordini per il segmento di sollevamento artificiale e attrezzature, e una crescita dei ricavi del 5.6% rispetto al trimestre precedente nel segmento di perforazione e completamento che ha raggiunto $123.6M.
Forum Energy Technologies (NYSE: FET) informó los resultados financieros del tercer trimestre de 2024 con ingresos de $207.8M, EBITDA ajustado de $25.8M y ganancias netas ajustadas de (2.3M). El desempeño de la compañía fue en gran medida acorde con las expectativas del mercado, con ingresos ligeramente por debajo de las estimaciones del consenso de $214.5M. Los márgenes de ganancia bruta superaron las expectativas, lo que llevó a beneficios operativos más sólidos. Durante el trimestre hubo desarrollos positivos, incluyendo el refinanciamiento de deuda completado, un aumento del 9.0% en los pedidos del segmento de levantamiento artificial y equipos, y un crecimiento de ingresos del 5.6% respecto al trimestre anterior en el segmento de perforación y finalización, alcanzando $123.6M.
포럼 에너지 기술(NYSE: FET)은 2024년 3분기 재무 결과를 발표하며 수익이 $207.8M, 조정 EBITDA가 $25.8M, 조정 순이익이 (2.3M)였다고 전했습니다. 회사의 성과는 시장 기대치와 대체로 일치하였으며, 수익은 컨센서스 추정치인 $214.5M보다 약간 낮았습니다. 총 수익률은 기대를 초과하여 운영 이익이 강해졌습니다. 이번 분기에는 부채 재조정 완료, 인공 리프팅 및 장비 부문 주문 9.0% 증가, 드릴링 및 완공 부문에서 분기대비 5.6% 성장하여 $123.6M에 도달한 긍정적인 발전이 있었습니다.
Forum Energy Technologies (NYSE: FET) a rapporté les résultats financiers du troisième trimestre 2024 avec des revenus de $207.8M, un EBITDA ajusté de $25.8M et un résultat net ajusté de (2.3M). La performance de l'entreprise était largement conforme aux attentes du marché, avec des revenus légèrement en dessous des estimations de consensus de $214.5M. Les marges bénéficiaires brutes ont dépassé les attentes, ce qui a conduit à des bénéfices d'exploitation plus forts. Le trimestre a connu des développements positifs, notamment le refinancement de la dette achevé, une augmentation de 9,0 % des commandes dans le segment de levage artificiel et d'équipement, et une croissance des revenus de 5,6 % par rapport au trimestre précédent dans le segment de forage et de finition, atteignant $123.6M.
Forum Energy Technologies (NYSE: FET) hat die finanziellen Ergebnisse für das 3. Quartal 2024 gemeldet, mit Einnahmen von $207.8M, bereinigtem EBITDA von $25.8M und bereinigtem Nettogewinn von (2.3M). Die Leistung des Unternehmens entsprach weitgehend den Markterwartungen, wobei die Einnahmen leicht unter den Konsensschätzungen von $214.5M lagen. Die Bruttogewinnmargen übertrafen die Erwartungen, was zu höheren Betriebsergebnissen führte. Im Quartal gab es positive Entwicklungen, darunter den Abschluss der Schuldenumstrukturierung, einen Anstieg der Bestellungen im Bereich künstliche Hebetechnik und Ausrüstung um 9,0 % sowie ein Wachstum der Einnahmen im Bohr- und Fertigstellungssegment von 5,6 % im Vergleich zum Vorquartal auf $123.6M.
- Gross profit margins exceeded expectations
- Artificial lift and equipment segment orders increased 9.0%
- Drilling and Completions segment revenue grew 5.6% Q/Q to $123.6M
- Completed debt refinancing
- Revenue of $207.8M fell short of consensus estimates of $214.5M
- Reported negative adjusted net income of ($2.3M)
Insights
The Q3 2024 results present a mixed picture. Revenue of
Dallas, Texas--(Newsfile Corp. - November 4, 2024) - Forum Energy Technologies, Inc. (NYSE: FET) Stonegate Capital Partners updates their coverage on Forum Energy Technologies, Inc. (NYSE: FET). FET reported revenue, adj EBITDA, and adj net income of
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Key Takeaways:
- Debt refinancing completed in the quarter
- Artificial lift and equipment segment orders increased
9.0% - Drilling and Completions segment saw a Q/Q revenue increase of
5.6% to$123.6M
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About Stonegate
Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking, equity research and capital raising for public and private companies.
Contacts:
Stonegate Capital Partners
(214) 987-4121
info@stonegateinc.com
Source: Stonegate, Inc.
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FAQ
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