Forum Energy Q4 revenue $185M, net loss $17M; guides FY24 EBITDA $100-120M

FORUM ENERGY TECHNOLOGIES, INC.

FY23 revenue $739M (+6% YoY); net loss $19M (diluted EPS -$1.85); adjusted EBITDA $67M (+14% from 2022).
Q4 net loss $17M ($1.64/share); adjusted net loss $0.39/share; adjusted EBITDA $15M vs $17M in Q3.
2024 guidance: adjusted EBITDA $100-120M, free cash flow $40-60M; CEO cites Variperm acquisition as accretive.
Drilling & Downhole Q4 revenue $91M (+12% QoQ); Completions $57M (-8%); Production $37M (flat).
Full-year orders $724M, book-to-bill 98%; international revenue up 23% with Middle East up 72%.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FORUM ENERGY TECHNOLOGIES, INC. reported the quarter ended December 31, 2023 results: revenue $185 million, net income $17 million, EPS $1.64 per diluted share.

Period: the quarter ended December 31, 2023
Revenue: $185 million
Net income: $17 million
EPS: $1.64 per diluted share
Result: reported results

Exact text from the filing

2024 Adjusted EBITDA guidance: $100 - $120 million HOUSTON, TEXAS, February 29, 2024 - Forum Energy Technologies, Inc. (NYSE: FET) today announced fourth quarter 2023 revenue of $185 million, a $6 million increase from the third quarter. The fourth quarter net loss was $17 million , or $1.64 p er diluted share, compared to third quarter net income of $8 million, or

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FORUM ENERGY TECHNOLOGIES, INC. filing history →

Source: SEC EDGAR

accession 0001401257-24-000036

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