secwatch.observer — SEC 8-K summary
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Issuer:     FORUM ENERGY TECHNOLOGIES, INC. (FET)
CIK:        0001401257
Form:       8-K
Filed at:   2024-02-20T23:59:59+00:00
Accession:  0001401257-24-000013
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FET delays Q4 earnings release; preliminary 2023 revenue $739M, adj. EBITDA $67-69M
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- Q4 2023 revenue $185M, adj. EBITDA $15-17M, free cash flow $9M.
- FY 2023 revenue $739M (+6% YoY), adj. EBITDA $67-69M, orders $724M (book-to-bill 98%).
- 2024 guidance: adj. EBITDA $100-120M, free cash flow $40-60M; Q1 rev $200-220M, adj. EBITDA $23-27M.
- Earnings release delayed ~Mar 1, 2024 due to international valuation allowance review; no impact on reported metrics.
- Assumes flat global market; US rig count down 5%, intl up slightly, Canada flat; Trans Mountain pipeline key in H2.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1401257/000140125724000013/0001401257-24-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1401257/000140125724000013/fet-20240219.htm
  HTML page:      https://secwatch.observer/filing/0001401257-24-000013

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer