Forum Energy Technologies Inc
NYSE:FET
Forum Energy Technologies Inc
Forum Energy Technologies, Inc. designs, manufactures, and distributes products to the oil and natural gas industry. The company is headquartered in Houston, Texas and currently employs 1,400 full-time employees. The company went IPO on 2012-04-12. The Company’s segments include Drilling & Downhole, Completions and Production. The Drilling & Downhole segment designs and manufactures 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. The Completions segment designs, manufactures and supplies products and provides related services to the coiled tubing, well stimulation and intervention markets. The Production segment designs, manufactures, and supplies products, and provides related equipment and services for production and infrastructure markets. The company offers its products to renewable energy and new energy companies for applications, such as offshore wind, geothermal power, and biogas. The company provides a range of industrial valves.
Forum Energy Technologies, Inc. designs, manufactures, and distributes products to the oil and natural gas industry. The company is headquartered in Houston, Texas and currently employs 1,400 full-time employees. The company went IPO on 2012-04-12. The Company’s segments include Drilling & Downhole, Completions and Production. The Drilling & Downhole segment designs and manufactures 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. The Completions segment designs, manufactures and supplies products and provides related services to the coiled tubing, well stimulation and intervention markets. The Production segment designs, manufactures, and supplies products, and provides related equipment and services for production and infrastructure markets. The company offers its products to renewable energy and new energy companies for applications, such as offshore wind, geothermal power, and biogas. The company provides a range of industrial valves.
Revenue: Q3 revenue came in at $196 million, at the high end of guidance, driven by offshore and international strength.
Bookings & Backlog: Bookings were robust, with a book-to-bill of 122%, pushing backlog up 21% to its highest level since 2015.
EBITDA Beat: EBITDA reached $23 million, up 13% quarter-over-quarter and above the top end of guidance, with margins improving by 150 basis points.
Free Cash Flow: Free cash flow was $28 million for the quarter (up 23%), and full-year guidance was raised to $70–80 million.
Share Repurchase: Repurchased 5% of shares outstanding in Q3, bringing year-to-date repurchases to 8% of shares.
Cost Savings: Facility consolidation and cost cutting are on track to deliver annualized savings of $15 million by mid-2026.
Outlook: Q4 revenue is expected between $180–200 million and EBITDA $19–23 million; full-year revenue guidance is $770–790 million.
2026 & Beyond: Management aims to double revenue in five years, highlighting strong market share gains, new product launches, and a resilient business model.
