Forum Energy Technologies, Inc.
Description
Forum Energy Technologies, Inc. designs, manufactures, and distributes products serving the oil, natural gas, industrial, and renewable energy industries in the United States and internationally. It operates through three segments: Drilling & Downhole, Completions, and Production. The Drilling & Downhole segment designs, manufactures, and supplies products, and provides related services to the drilling, well construction, artificial lift, and subsea energy construction and services markets, including applications in oil and natural gas, renewable energy, defense, and communications. This segment offers drilling technologies consisting of capital equipment and a line of products consumed in the drilling process; well construction casing and cementing equipment, and products for artificial lift equipment and cables; and subsea remotely operated vehicles and trenchers, submarine rescue vehicles, specialty components and tools, and technical services. The Completions segment offers hydraulic fracturing pumps, cooling systems, high-pressure flexible hoses, and flow iron for pressure pumping markets; wireline cable and pressure control equipment for well completion and intervention service markets; and coiled tubing strings and coiled line pipe and related services. The Production segment designs, manufactures, and supplies products, and provides related equipment and services for production and infrastructure markets. This segment offers engineered process systems, production equipment, specialty separation equipment, and various industrial valves for oil and natural gas customers, power generation, renewable energy, and other general industrial applications. The company was formerly known as Forum Oilfield Technologies, Inc. and changed its name to Forum Energy Technologies, Inc. in August 2010. Forum Energy Technologies, Inc. was incorporated in 2005 and is headquartered in Houston, Texas.
About
CEO
Mr. Neal A. Lux
Employees
1,600
Instrument type
Common Stock
Sector
Energy
Industry
Oil & Gas Equipment & Services
MIC code
XNYS
Address
10344 Sam Houston Park Drive, Houston, TX 77064, United States
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Oscillators
No data available
Summary
No data available
Moving Averages
No data available
Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Nov 18, 2025 | — | — | — | — |
| Oct 30, 2025 | — | — | — | — |
| Jul 31, 2025 | — | — | — | — |
| Apr 8, 2025 | — | — | — | — |
| Feb 26, 2025 | — | — | — | — |
Earnings estimate
|
Next Quarter
(Mar 2025)
|
Next Year
(Dec 2025)
|
|||
|---|---|---|---|---|
| Number of analysts | — | 0 | — | 1 |
| Average estimate | — | 0.00 | — | 0.68 |
| Low estimate | — | 0.00 | — | 0.68 |
| High estimate | — | 0.00 | — | 0.68 |
| Last year EPS | — | — | — | -0.43 |
[stock_revenue_estimate]
Growth estimates
Current qtr
—
Next qtr. (Mar 2025)
—
Current year
-10.260%
Next year (Dec 2025)
258.140%
Next 5 years (per annum)
—
Past 5 years (per annum)
—
Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | 738.86M | 699.91M | 541.07M | 512.48M | 956.53M |
| Cost of revenue | 534.71M | 511.39M | 417.73M | 523.50M | 711.68M |
| Gross profit | 204.15M | 188.53M | 123.34M | -11.02M | 244.85M |
| Operating expense | |||||
| Research & development | — | — | — | — | — |
| Selling general and admin | 180.39M | 179.47M | 168.89M | 197.68M | 251.74M |
| Other operating expenses | — | — | — | — | — |
| Operating income | 23.76M | 9.06M | -45.55M | -208.70M | -6.88M |
| Non operating interest income | |||||
| Income | — | — | — | — | — |
| Expense | 18.30M | 31.53M | 32.01M | 30.27M | 31.62M |
| Other income expense | -13.28M | 32.82M | -4.46M | 129.20M | -530.37M |
| Pretax income | -7.81M | 10.35M | -82.01M | -109.77M | -568.87M |
| Tax provision | 11.06M | 6.64M | 642,000 | -12.88M | -1.81M |
| Net income | -18.88M | 3.71M | -82.65M | -96.89M | -567.06M |
| Basic EPS | -1.85 | 0.65 | -14.65 | -17.37 | -103.00 |
| Diluted EPS | -1.85 | 0.62 | -14.65 | -17.37 | -103.00 |
| Basic average shares | 10.20M | 5.70M | 5.60M | 5.60M | 5.51M |
| Diluted average shares | 10.20M | 5.70M | 5.60M | 5.60M | 5.51M |
| EBITDA | 58.49M | 46.03M | -3.37M | -157.70M | 62.24M |
| Net income from continuing op. | -18.88M | 3.71M | -82.65M | -96.89M | -567.06M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 821.06M | 834.76M | 791.34M | 889.93M | 1.16B |
| Current assets | |||||
| Cash | — | — | — | — | — |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 46.17M | 51.03M | 46.86M | 128.62M | 57.91M |
| Other short term investments | — | — | — | — | — |
| Accounts receivable | 146.75M | 154.25M | 123.90M | 80.61M | 154.18M |
| Other receivables | 15.17M | 15.80M | 10.53M | 10.20M | 5.36M |
| Inventory | 299.64M | 269.83M | 241.74M | 251.75M | 414.64M |
| Prepaid assets | — | — | 23.70M | 19.02M | 33.82M |
| Restricted cash | — | — | — | — | — |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | 21.89M | 21.96M | 23.70M | 19.02M | 33.82M |
| Non current assets | |||||
| Properties | 73.51M | 72.56M | 39.98M | 39.17M | 54.99M |
| Land and improvements | 4.84M | 4.76M | 7.50M | 8.48M | 9.87M |
| Machinery furniture equipment | 164.63M | 159.69M | 168.11M | 202.74M | 234.18M |
| Construction in progress | 1.56M | 4.53M | 1.96M | 968,000 | 3.66M |
| Leases | — | — | — | — | — |
| Accumulated depreciation | -174.35M | -171.02M | -183.92M | -199.81M | -202.56M |
| Goodwill | 167.97M | 191.48M | 217.41M | 240.44M | 272.30M |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | 167.97M | 191.48M | 217.41M | 240.44M | 272.30M |
| Investments and advances | — | — | — | — | — |
| Other non current assets | 6.69M | 10.18M | 7.76M | 14.10M | 18.26M |
| Total liabilities | 408.43M | 527.72M | 462.21M | 483.69M | 673.96M |
| Current liabilities | |||||
| Accounts payable | 125.92M | 118.26M | 99.38M | 46.35M | 98.72M |
| Accrued expenses | 62.46M | 76.54M | 58.44M | 67.58M | 86.63M |
| Short term debt | 1.19M | 782,000 | 860,000 | 1.32M | 717,000 |
| Deferred revenue | 14.77M | 14.71M | 16.98M | 9.68M | 10.79M |
| Tax payable | — | — | — | — | — |
| Pensions | — | — | — | — | — |
| Other current liabilities | — | — | — | — | — |
| Non current liabilities | |||||
| Long term debt | 191.02M | 303.75M | 267.12M | 337.91M | 448.80M |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | 940,000 | 902,000 | 834,000 | 1.95M | 2.47M |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | 12.13M | 12.77M | 18.61M | 18.90M | 25.84M |
| Shareholders equity | |||||
| Common stock | 109,000 | 62,000 | 61,000 | 60,000 | 1.19M |
| Retained earnings | -699.47M | -680.60M | -684.31M | -601.66M | -503.37M |
| Other shareholders equity | -115.24M | -127.49M | -101.03M | -100.39M | -108.94M |
| Total shareholders equity | 412.63M | 307.04M | 329.13M | 406.24M | 486.04M |
| Additional paid in capital | 1.37B | 1.25B | 1.25B | 1.24B | 1.23B |
| Treasury stock | 142.06M | 138.56M | 135.56M | 134.50M | 134.49M |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||
| Net Income | -18.88M | 3.71M | -82.65M | -96.89M | -567.06M | -374.08M | -59.40M | -81.95M | -119.38M | 174.38M | 129.60M | 151.53M | 93.59M | 24.05M | 19.49M |
| Depreciation | 34.73M | 36.98M | 42.18M | 51.00M | 63.24M | 74.51M | 65.13M | 61.76M | 65.68M | 65.07M | 60.58M | 51.80M | 40.78M | 33.22M | 38.44M |
| Deferred Taxes | -204,000 | -130,000 | 2.79M | -149,000 | -12.99M | -13.55M | 149,000 | -24.42M | -23.25M | -3.27M | 15.62M | -6.35M | -1.48M | -1.18M | -8.12M |
| Stock-Based Compensation | 4.57M | 4.21M | 7.59M | 9.78M | 15.85M | 19.93M | 20.31M | 20.54M | 21.68M | 18.77M | 19.04M | 8.18M | 5.16M | 5.14M | 3.02M |
| Other Non-Cash Items | 5.12M | -1.65M | 5.21M | 3.70M | -2.95M | 1.09M | 3.89M | 4.39M | 3.87M | 4.11M | -1.84M | -9.59M | 16.40M | 3.00M | 2.47M |
| Accounts Receivable | 8.82M | -42.63M | -44.88M | 61.22M | 54.36M | -3.56M | -34.09M | -1.45M | 147.97M | -35.99M | -15.52M | 18.28M | -67.56M | -10.58M | 37.63M |
| Accounts Payable | -4.89M | 20.76M | 36.33M | -69.40M | -48.06M | -4.19M | 52.14M | 3.80M | -111.26M | 62.77M | -1.48M | -4.78M | 56.26M | 14.17M | -61.85M |
| Other Assets & Liabilities | -28.08M | -43.84M | 9.92M | 47.72M | 56.54M | -59.57M | -68.89M | 53.43M | -6.29M | -23.81M | 12.01M | -87.93M | -93.39M | -10.19M | 64.00M |
| Operating Cash Flow | 1.19M | -22.59M | -23.51M | 7.00M | -441.06M | -359.44M | -20.76M | 36.09M | -20.99M | 262.03M | 218.02M | 121.14M | 49.75M | 57.62M | 95.07M |
| Investing Activities | |||||||||||||||
| Capital Expenditures | 1.37M | 3.01M | 7.01M | 5.29M | 483,000 | -24.04M | -26.71M | -16.83M | -32.29M | -53.79M | -60.26M | -49.69M | 1.06M | 670,000 | 6.09M |
| Net Intangibles | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | -485,000 | -4.69M | 105.20M | 42.75M | -51.36M | -161.26M | 5.69M | -59.02M | -16.90M | -293.00M | -134.84M | -508.95M | 670,000 | -1.73M |
| Purchase of Investments | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Sale of Investments | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Investing Cash Flow | 1.37M | 34.63M | 13.10M | 110.50M | 43.24M | -75.41M | -187.97M | -11.14M | -91.31M | -70.69M | -353.26M | -184.52M | -507.89M | 1.34M | 4.36M |
| Financing Activities | |||||||||||||||
| Long-Term Debt Issuance | — | 544.13M | — | 182.32M | 137.00M | 221.98M | 107.43M | — | 94.98M | 15.42M | 808.20M | 203.29M | 520.35M | 323.92M | 8.21M |
| Long-Term Debt Payments | -453.01M | -545.38M | -73.24M | -210.65M | -258.10M | -212.93M | -1.19M | -92,000 | -120.75M | -99.65M | -716.06M | -454.48M | -62.28M | -407.99M | -102.52M |
| Other Financing Charges | -311,000 | — | -1.59M | -13.25M | — | — | -2.43M | -766,000 | -8,000 | 7.74M | -16.24M | 46.22M | -4.91M | -6.63M | -47,000 |
| Financing Cash Flow | -459.32M | -5.08M | -89.37M | -28.64M | -242.09M | 6.52M | 100.56M | 86.20M | -26.94M | -162.02M | 77.05M | 65.78M | 510.15M | -54.27M | -94.53M |
| Other Cash Details | |||||||||||||||
| End Cash Position | 46.17M | 51.03M | 46.86M | 128.62M | 57.91M | 47.24M | 115.22M | 234.42M | 109.25M | 76.58M | 39.58M | 41.06M | 20.55M | 20.35M | 26.89M |
| Income Tax Paid | 8.80M | — | 2.44M | — | 3.92M | 5.56M | 29.09M | 6.27M | 19.92M | 55.58M | 41.36M | 59.44M | 29.13M | -25.01M | 24.59M |
| Interest Paid | 17.09M | 25.33M | 27.07M | 23.76M | 31.94M | 30.27M | 25.99M | -26.33M | 27.87M | 27.63M | 17.98M | 15.22M | 17.70M | -14.22M | 17.82M |
| Free Cash Flow | 239,000 | -24.55M | -18.17M | 1.64M | 89.04M | -21.64M | -66.74M | 47.91M | 123.62M | 216.17M | 151.13M | 88.26M | -1.89M | 46.10M | 92.47M |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| NYLI MacKay High Yield Corporate Bond Fund | Oct 31, 2024 | 616,274 | 10.95M | 5.02% |
| Vanguard Total Stock Market Index Fund | Sep 30, 2024 | 367,639 | 6.53M | 2.99% |
| iShares Russell 2000 ETF | Nov 30, 2024 | 284,214 | 5.05M | 2.31% |
| Allspring Special Small Cap Value Fund | Nov 30, 2024 | 218,244 | 3.88M | 1.78% |
| NYLI VP MacKay High Yield Corporate Bond Port | Sep 30, 2024 | 159,661 | 2.84M | 1.30% |
| Vanguard Extended Market Index Fund | Sep 30, 2024 | 153,646 | 2.73M | 1.25% |
| RiverPark Fds Tr-RiverPark Strategic Income Fd | Sep 30, 2024 | 143,324 | 2.55M | 1.17% |
| DFA U.S. Small Cap Value Series | Oct 31, 2024 | 120,538 | 2.14M | 0.98% |
| Fidelity Small Cap Index Fund | Oct 31, 2024 | 113,016 | 2.01M | 0.92% |
| iShares Russell 2000 Value ETF | Nov 30, 2024 | 112,321 | 1.99M | 0.91% |
Article
Forum Energy Technologies Congratulates Board Member Leslie A. Beyer on U.S. Government Nomination
HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) congratulates Leslie A. Beyer, a member of FET's Board of Directors, on her nomination to serve as Assistant Secretary for Land and Minerals Management in the U.S. Department of Interior (DOI). Once confirmed by the Senate, Ms. Beyer would oversee multiple key agencies within the DOI, including the Bureau of Land Management; Office of Surface Mining Reclamation and Enforcement; Bureau of Ocean Energy Management; and Bureau of.
Feb 4, 2025
Article
Forum Energy Technologies to Present at the Sidoti Virtual Micro Cap Conference
HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) announced today that Neal Lux, President and Chief Executive Officer, and Lyle Williams, Executive Vice President and Chief Financial Officer, are scheduled to present at the Sidoti Virtual Micro Cap Conference on Wednesday, January 22, 2025 at 11:30 a.m. Eastern Time. The presentation can be accessed live at the following link: https://sidoti.zoom.us/webinar/register/WN_msJcxtctQA6hqOwKwkYYIg A link to the live webcast and t.
Jan 20, 2025
Article
Forum Energy Technologies: A Stock Buying Back 40% Of Its Market Cap
Forum Energy Technologies announced a US$75 million share buyback program, to address the issue of stock undervaluation. The share repurchase program of such a magnitude seems to be supported by the balance sheet, business fundamentals, and especially anticipated FCF in the foreseeable future. I believe the current bearish sentiment represents an opportunity for risk-tolerant, patient investors with no less than a two-year investment time horizon to consider this turnaround story.
Jan 8, 2025
