Forum Energy Tech Q1 revenue $155M, adjusted EBITDA $9M; Q2 guidance $160-170M

FORUM ENERGY TECHNOLOGIES, INC.

2022-Q1 EPS reported -$1.62 revenue$155,174,000

Revenue $155M, up 5% sequential; net loss $9M vs $20M loss in Q4 2021.
Adjusted EBITDA $9M, up 112% sequentially and 344% YoY.
Orders $165M, book-to-bill 1.06; backlog over $200M first time since 2019.
Segment revenue: Drilling & Downhole $71M (+7%), Completions $53M (+3%), Production $32M (+2%).
Q2 guidance: revenue $160-170M, adj. EBITDA $11-14M; full-year adj. EBITDA $50-60M maintained.

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