Forum Energy Technologies Q1 revenue rises 8%, lifts 2026 EBITDA outlook
Forum Energy Technologies, Inc. FET | 0.00 |
Overview
U.S. oilfield equipment maker's Q1 revenue rose 8% yr/yr to $209 mln
Adjusted EPS for Q1 was $0.47, up from $0.04 a year ago
Company raised full-year 2026 adjusted EBITDA guidance to $95-$110 mln
Outlook
Forum Energy Technologies raises 2026 adjusted EBITDA guidance to $95-$110 mln
Company expects Q2 adjusted EBITDA between $24 mln and $30 mln
Company says 2026 forecast assumes a flat market despite signs of increased industry activity
Result Drivers
STRONG ORDERS AND BACKLOG - Co said strong orders for differentiated products and a 44% increase in backlog compared to Q1 2025 supported revenue growth
DRILLING AND COMPLETIONS SEGMENTS - Drilling and Completions segment revenue benefited from cost savings initiatives and improved plant utilization related to facilities consolidation
HIGHER VOLUMES - Artificial Lift and Downhole segment revenue rose 9% due to increased volumes across all product lines
Company press release: ID:nBw73pt1La
Key Details
Metric |
Beat/Miss |
Actual |
Consensus Estimate |
Q1 Revenue |
|
$208.70 mln |
$201.30 mln (2 Analysts) |
Q1 Adjusted EPS |
|
$0.47 |
$0.44 (2 Analysts) |
Q1 Net Income |
|
$4.49 mln |
|
Q1 Gross Profit |
|
$60.99 mln |
|
Q1 Operating Expenses |
|
$49.99 mln |
|
Q1 Operating Income |
|
$11.005 mln |
|
Q1 Pretax Profit |
|
$7.39 mln |
|
Analyst Coverage
Wall Street's median 12-month price target for Forum Energy Technologies Inc is $64.00, about 0.8% below its April 29 closing price of $64.54
The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 23 three months ago
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