FET Q2 revenue $185M (+8% YoY), net loss $7M; guides FY adj EBITDA ~$80M

FORUM ENERGY TECHNOLOGIES, INC.

2023-Q2 EPS reported -$0.99 revenue$374,406,000

Revenue $185M, up 8% YoY; orders $186M, book-to-bill 100%.
Net loss of $7M and diluted EPS -$0.64 (vs Q1 loss $3M); adjusted EPS $0.10.
Adjusted EBITDA $17M, up 12% YoY; international revenue grew 10% sequentially.
Q3 guidance: revenue $180-200M, adj EBITDA $16-20M. FY adj EBITDA ~$80M, FCF ~$20M.
Drilling & Downhole segment rev +5% QoQ; Completions rev -2%; Production rev -15%.

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 0.95

FORUM ENERGY TECHNOLOGIES, INC. reported second quarter 2023 results: revenue $185 million, net income $7 million, EPS $0.64 per diluted share.

Period: second quarter 2023
Revenue: $185 million
Net income: $7 million
EPS: $0.64 per diluted share
Result: reported results

Exact text from the filing

in such filing. --- EX-99.1 (EX-99.1 EARNINGS RELEASE 2Q23) --- EARNINGS RELEASE 2Q23 Document Forum Energy Technologies Announces Second Quarter 2023 Results • Revenue: $185 million, an 8% year-over-year increase • Net loss: $7 million and diluted EPS of negative $0.64 • Adjusted EBITDA: $17 million, a 12% year-over-year increase • Orders: $186 million and

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FORUM ENERGY TECHNOLOGIES, INC. filing history →

Source: SEC EDGAR

accession 0001401257-23-000067

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