Forum Energy Tech Q3 revenue $208M (+16% YoY); raises 2024 FCF guidance to $60-70M

FORUM ENERGY TECHNOLOGIES, INC.

2024-Q3 EPS reported -$2.59 revenue$615,407,000

Revenue $208M, up 16% YoY and 1% sequentially; orders $206M, book-to-bill 99%.
Net loss $15M ($1.20 diluted); adjusted net loss $2M ($0.19 diluted).
Adjusted EBITDA $26M, up 55% YoY; generated free cash flow $25M in Q3.
Raised full-year 2024 free cash flow guidance to $60-70M.
Q4 2024 guidance: revenue $190-210M, adjusted EBITDA $22-26M.

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