FET reports FY2022 revenue $700M (+29% YoY), adj. EBITDA $59M (+194%); guides FY2023 adj. EBITDA $80-100M

FORUM ENERGY TECHNOLOGIES, INC.

2022-FY EPS reported $0.62 revenue$699,913,000

Full year 2022 revenue $700M (+29% YoY); net income $4M, diluted EPS $0.62; adj. EBITDA $59M (+194%).
Q4 2022 revenue $191M (+5% QoQ); net loss $13M ($2.22 loss per share); adjusted net loss $0.45 per share.
2023 adjusted EBITDA guidance $80-$100M; long-term debt reduced 47.8% in Jan 2023; leverage ratio improved to 1.4x.
Drilling & Downhole rev $81M (+7% QoQ), adj EBITDA $11M (-$2M); Completions rev $74M (+3%), adj EBITDA $9M (-$1M); Production rev $36M (+5%), adj EBITDA $2M (+$1M).
Q4 orders $215M, book-to-bill 113%; full year orders $781M, book-to-bill 112%; backlog highest since Q4 2018.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FORUM ENERGY TECHNOLOGIES, INC. reported financial results for quarter ended December 31, 2022.

Period: quarter ended December 31, 2022
Result: reported results

Exact text from the filing

On February 21, 2023 , Forum Energy Technologies, Inc. (the " Company ") issued a press release announcing earnings for the quarter ended December 31, 2022.

View on SEC.gov

44 earnings releases filed in the last 30 days. Browse all earnings releases →

FORUM ENERGY TECHNOLOGIES, INC. filing history →

Source: SEC EDGAR

accession 0001401257-23-000010

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