secwatch.observer — SEC 8-K summary
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Issuer:     FORUM ENERGY TECHNOLOGIES, INC. (FET)
CIK:        0001401257
Form:       8-K
Filed at:   2024-05-03T23:59:59+00:00
Accession:  0001401257-24-000087
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FET Q1 revenue $202M, net loss $0.85/sh; reaffirms FY2024 EBITDA guidance of $100-120M
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- Revenue $202M (+9% seq); orders $204M (book-to-bill 101%); net loss $10M ($0.85/sh), adj. net loss $0.12/sh.
- Adjusted EBITDA $26M (+69% seq); reaffirms FY2024 adj. EBITDA $100-120M, FCF $40-60M.
- Variperm acquisition boosted Artificial Lift & Downhole segment; segment revenue up 42% seq.
- Q2 2024 adj. EBITDA guidance $24-28M, softer Canadian market due to seasonal breakup.
- Drilling & Completions revenue down 6% seq but adj. EBITDA up 13% on favorable product mix.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1401257/000140125724000087/0001401257-24-000087-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1401257/000140125724000087/fet-20240502.htm
  HTML page:      https://secwatch.observer/filing/0001401257-24-000087

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