Stonegate Capital Partners Updates Coverage on Forum Energy Technologies, Inc. (FET) Q1 24

Rhea-AI Summary

Stonegate Capital Partners updated their coverage on Forum Energy Technologies, Inc. (NYSE: FET) highlighting significant year-over-year free cash flow growth attributed to the Variperm acquisition, drilling and completions EBITDA margin expansion by 86 basis points, and a 33.9% year-over-year increase in artificial lift and equipment revenue.

Positive

• Significant year-over-year free cash flow growth due to Variperm acquisition
• Drilling and completions EBITDA margin expanded by 86 basis points
• 33.9% year-over-year growth in artificial lift and equipment revenue

Negative

• None.

Dallas, Texas--(Newsfile Corp. - May 6, 2024) - Forum Energy Technologies, Inc. (NYSE: FET) Stonegate Capital Partners updates their coverage on Forum Energy Technologies, Inc. (NYSE: FET).

To view the full announcement, including downloadable images, bios, and more, click here.

Key Takeaways:

• Significant y/y FCF growth due to Variperm acquisition
• Drilling and completions EBITDA margin expansion of 86bps
• Artificial lift and equipment revenue growth of 33.9% y/y

Click image above to view full announcement.

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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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/208175

FAQ

What updates did Stonegate Capital Partners provide on Forum Energy Technologies, Inc. (FET)?

Stonegate Capital Partners updated their coverage on Forum Energy Technologies, Inc. (NYSE: FET) highlighting significant year-over-year free cash flow growth attributed to the Variperm acquisition, drilling and completions EBITDA margin expansion by 86 basis points, and a 33.9% year-over-year increase in artificial lift and equipment revenue.

What was the reason for the significant free cash flow growth for Forum Energy Technologies, Inc. (FET)?

The significant free cash flow growth for Forum Energy Technologies, Inc. was attributed to the Variperm acquisition.

How much did the drilling and completions EBITDA margin expand for Forum Energy Technologies, Inc. (FET)?

The drilling and completions EBITDA margin expanded by 86 basis points for Forum Energy Technologies, Inc.

What was the percentage increase in artificial lift and equipment revenue for Forum Energy Technologies, Inc. (FET)?

Forum Energy Technologies, Inc. experienced a 33.9% year-over-year growth in artificial lift and equipment revenue.