secwatch.observer — SEC 8-K summary
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Issuer:     FORUM ENERGY TECHNOLOGIES, INC. (FET)
CIK:        0001401257
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001401257-23-000045
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1401257/000140125723000045/0001401257-23-000045-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1401257/000140125723000045/fet-20230504.htm
  HTML page:      https://secwatch.observer/filing/0001401257-23-000045

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