Stonegate Capital Partners Updates Coverage on Forum Energy Technologies, Inc. (FET) Q4 24
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) ha riportato i risultati finanziari del quarto trimestre 2024 con ricavi di $201,0M, EBITDA rettificato di $22,2M e perdita netta rettificata di $5,9M. I ricavi sono stati in linea con le aspettative degli analisti, mentre i margini di profitto lordo sono risultati leggermente inferiori alle previsioni. L'azienda ha raggiunto margini EBITDA rettificati dell'11,0%, leggermente al di sotto delle aspettative.
Tra i punti salienti, si segnala un forte flusso di cassa libero di $56,9M, che rappresenta un aumento sequenziale di $32,4M. Il segmento Artificial Lift e Downhole ha mostrato una crescita con ricavi aumentati del 6,8% sequenzialmente a $89,9M. L'azienda ha anche avviato il programma di riacquisto di azioni precedentemente annunciato di $75,0M.
Forum Energy Technologies (NYSE: FET) reportó los resultados financieros del cuarto trimestre de 2024 con ingresos de $201.0M, EBITDA ajustado de $22.2M y pérdida neta ajustada de $5.9M. Los ingresos se alinearon con las expectativas de los analistas, mientras que los márgenes de utilidad bruta fueron ligeramente inferiores a las previsiones. La compañía logró márgenes de EBITDA ajustados del 11.0%, ligeramente por debajo de las expectativas.
Los aspectos destacados incluyen un fuerte flujo de caja libre de $56.9M, que representa un aumento secuencial de $32.4M. El segmento de Artificial Lift y Downhole mostró crecimiento con ingresos que aumentaron un 6.8% secuencialmente a $89.9M. La compañía también ha iniciado su programa de recompra de acciones previamente anunciado de $75.0M.
포럼 에너지 기술(뉴욕증권거래소: FET)는 2024년 4분기 재무 결과를 보고하며 수익이 $201.0M, 조정 EBITDA가 $22.2M, 조정 순손실이 $5.9M이라고 발표했습니다. 수익은 분석가의 예상과 일치했으나, 총 이익률은 예측보다 약간 낮았습니다. 회사는 11.0%의 조정 EBITDA 마진을 달성했으며, 이는 기대에 미치지 못했습니다.
주요 하이라이트로는 $56.9M의 강력한 자유 현금 흐름이 있으며, 이는 순차적으로 $32.4M 증가한 수치입니다. 인공 리프트 및 다운홀 부문은 수익이 순차적으로 6.8% 증가하여 $89.9M에 도달하며 성장을 보였습니다. 회사는 또한 이전에 발표한 $75.0M의 자사주 매입 프로그램을 시작했습니다.
Forum Energy Technologies (NYSE: FET) a publié les résultats financiers du quatrième trimestre 2024, avec des revenus de $201,0M, un EBITDA ajusté de $22,2M et une perte nette ajustée de $5,9M. Les revenus étaient conformes aux attentes des analystes, tandis que les marges bénéficiaires brutes étaient légèrement inférieures aux prévisions. L'entreprise a atteint des marges d'EBITDA ajustées de 11,0%, légèrement en dessous des attentes.
Parmi les points forts, on note un flux de trésorerie libre de $56,9M, représentant une augmentation séquentielle de $32,4M. Le segment Artificial Lift et Downhole a montré une croissance avec des revenus augmentant de 6,8% en séquentiel pour atteindre $89,9M. L'entreprise a également lancé son programme de rachat d'actions précédemment annoncé de $75,0M.
Forum Energy Technologies (NYSE: FET) hat die finanziellen Ergebnisse für das vierte Quartal 2024 veröffentlicht, mit einem Umsatz von $201,0M, bereinigtem EBITDA von $22,2M und einem bereinigten Nettoverlust von $5,9M. Der Umsatz entsprach den Erwartungen der Analysten, während die Bruttogewinnmargen leicht unter den Prognosen lagen. Das Unternehmen erzielte bereinigte EBITDA-Margen von 11,0%, was leicht unter den Erwartungen liegt.
Besondere Höhepunkte sind der starke freie Cashflow von $56,9M, der einen sequenziellen Anstieg von $32,4M darstellt. Der Bereich Artificial Lift und Downhole zeigte ein Wachstum mit einem sequenziellen Umsatzanstieg von 6,8% auf $89,9M. Das Unternehmen hat auch sein zuvor angekündigtes $75,0M Aktienrückkaufprogramm gestartet.
- Strong FCF generation of $56.9M in Q4, up $32.4M from previous quarter
- Artificial Lift and Downhole segment revenue grew 6.8% sequentially to $89.9M
- Implementation of $75.0M share repurchase program
- Revenue of $201.0M met analyst expectations
- Adjusted net loss of $5.9M, missing consensus estimates
- EBITDA margins below expectations at 11.0%
- Weaker than expected operating profit margins
- Release of valuation allowance on deferred tax assets in Germany and Saudi Arabia impacting earnings
Insights
The standout positive is the remarkable improvement in free cash flow, which surged to
The Artificial Lift and Downhole segment's
The divergence between strong cash flow generation and weaker profitability metrics suggests that working capital management improvements are driving near-term financial performance, while operational challenges persist. The company's ability to maintain revenue levels while simultaneously generating substantial free cash flow positions it well for future strategic initiatives, but margin improvement will be important for sustainable long-term value creation.
Dallas, Texas--(Newsfile Corp. - February 24, 2025) - 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
To view the full announcement, including downloadable images, bios, and more, click here.
Key Takeaways:
- FCF of
$56.9M in 4Q24, up$32.4M sequentially. - Artificial Lift and Downhole revenue increased by
6.8% sequentially to$89.9M - FET began executing on its announced
$75.0M share repurchase program.
Click image above to view full announcement.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/242067
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