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

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.