Forum Energy Technologies expects Q4 2021 revenue and adjusted EBITDA below guidance

FORUM ENERGY TECHNOLOGIES, INC.

2021-FY EPS reported -$14.65 revenue$541,068,000

Q4 2021 revenue expected ~$148M, adjusted EBITDA ~$4M; both below prior guidance due to supply chain disruptions and COVID costs.
Full-year 2021 revenue $541M (+$29M YoY) and adjusted EBITDA $20M (+$40M YoY).
Q4 free cash flow negative ~$8M, better than prior guidance; net debt increased $3M in Q4.
Repurchased 56K shares for $1.1M in Q4; spent $4M on two tuck-in acquisitions.
Book-to-bill ratio ~1.1x in Q4; backlog supports revenue growth in 2022.

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