Forum Energy Tech Q2 revenue $205M (+11% YoY), raises free cash flow guidance to $50-70M

FORUM ENERGY TECHNOLOGIES, INC.

2024-Q2 EPS reported -$1.39 revenue$407,601,000

Revenue $205M (+11% YoY); adjusted EBITDA $26M (+48% YoY).
Net loss $7M ($0.54 diluted loss); adjusted net loss $0.07 per diluted share.
Free cash flow $21M in Q2; raised full-year free cash flow guidance to $50-70M.
Redeemed/repurchased $73M of 2025 Notes; adjusted EBITDA guidance narrowed to $100-110M.
Orders $180M (book-to-bill 88%); U.S. rig count expected down 15% for 2024.

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