FET Q2: revenue $172M (+11% seq), net income $9M, adj EBITDA $15.5M; raises guidance

FORUM ENERGY TECHNOLOGIES, INC.

2022-Q2 EPS reported $0.01 revenue$327,420,000

Q2 revenue $172M, up 11% sequentially; net income $9M ($1.15 diluted EPS) vs Q1 net loss $9M.
Adjusted EBITDA $15.5M, up 74% sequentially; adjusted net loss per share $(0.73).
Orders $203M, book-to-bill ratio 1.18; all segments posted order growth.
Completions revenue $66M (+26% seq); Drilling & Downhole $77M (+7%); Production $30M (-5% on Asia delays).
Guides Q3 rev $170-180M, adj EBITDA $16-19M; full-year adj EBITDA expected near top of $50-60M range.

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