Forum Energy Technologies Q3 revenue $179M, net income $8M; guides Q4 revenue $170-190M

FORUM ENERGY TECHNOLOGIES, INC.

2023-Q3 EPS reported -$0.21 revenue$553,659,000

Q3 revenue $179M (-3% seq), net income $8M ($0.77 EPS) vs Q2 net loss $7M; adjusted EPS $0.05.
Orders $199M (book-to-bill 111%), up 7% seq; all segments increased backlog.
Adjusted EBITDA $17M; operating cash flow $26M, free cash flow $24M.
Q4 guidance: revenue $170-190M, adj. EBITDA $15-19M; FY adj. EBITDA ~$70M.
International revenue up 15% seq; Completions segment revenue down 13% on U.S. frac slowdown.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FORUM ENERGY TECHNOLOGIES, INC. reported third quarter 2023 results: revenue $179 million, net income $8 million, EPS $0.77 per diluted share. Guidance lowered.

Period: third quarter 2023
Revenue: $179 million
Net income: $8 million
EPS: $0.77 per diluted share
Guidance: lowered
Result: reported results

Exact text from the filing

Forum Energy Technologies Announces Third Quarter 2023 Results • Orders: $199 million and book-to-bill ratio of 111% • Revenue: $179 million • Net income: $8 million and diluted EPS of $0.77 • Adjusted EBITDA: $17 million • Operating cash flow and free cash flow: $26 million and $24 million, respectively

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FORUM ENERGY TECHNOLOGIES, INC. filing history →

Source: SEC EDGAR

accession 0001401257-23-000081

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