Forum Energy Q1 revenue up 22% YoY to $189M; net loss narrows to $4M

FORUM ENERGY TECHNOLOGIES, INC.

2023-Q1 EPS reported -$0.34 revenue$188,957,000

Q1 2023 net loss $4M ($0.34 diluted EPS) vs Q4 2022 net loss $13M ($2.22 EPS).
Adjusted EPS $0.09; adjusted EBITDA $18M (+99% YoY); revenue $189M (+22% YoY).
Orders $179M, book-to-bill 95%; U.S. rig count soft but offset by international activity.
FY 2023 adjusted EBITDA guidance reaffirmed at $80-100M; Q2 forecast $16-20M.
Drilling & Downhole rev $77M (-5% seq); Completions rev $74M flat; Production rev $39M (+9%).

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 the quarter ended March 31, 2023 results: revenue $189 million, net income $4 million, EPS diluted EPS of negative $0.34. Guidance reaffirmed.

Period: the quarter ended March 31, 2023
Revenue: $189 million
Net income: $4 million
EPS: diluted EPS of negative $0.34
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Forum Energy Technologies Announces First Quarter 2023 Results and Reaffirms 2023 Guidance • Revenue: $189 million, a 22% year-over-year increase • Net loss: $4 million and diluted EPS of negative $0.34

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Source: SEC EDGAR

accession 0001401257-23-000045

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