Latest news with #ForumEnergyTechnologies
Yahoo
a day ago
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Forum Energy Technologies, Inc. (FET) Reports Q2 2025 Results
With strong share price gains and significant hedge fund interest, Forum Energy Technologies, Inc. (NYSE:FET) secures a spot on our list of the 13 Hot Oil Stocks to Buy Now. An oil rig surrounded by the expanse of sea, the pumping operations in progress. On August 7, 2025, Forum Energy Technologies, Inc. (NYSE:FET) reported its results for Q2 2025. The company recorded revenue of $200 million, which was up 3% sequentially, and net income of $8 million ($0.61 per diluted share). Meanwhile, it recorded a $1 million net loss after making adjustments for one-time items. During the quarter, Forum Energy Technologies, Inc. (NYSE:FET) reported a surge in orders, taking the total to $263 million, resulting in a 132% book-to-bill ratio and the highest backlog in over a decade. This growth was attributed to strong offshore defense and energy infrastructure demand. Meanwhile, Forum Energy Technologies, Inc. (NYSE:FET)'s financial health was boosted by adjusted EBITDA of $21 million (up 2%) and free cash flow of $23 million. The quarter marks the eighth straight positive quarter. Looking ahead, the company raised its 2025 free cash flow guidance to $60-$80 million, expecting adjusted EBITDA of $85 million. As of the end of Q2, Forum Energy Technologies repurchased 579,000 shares year-to-date for $11 million, while expecting to reduce net leverage to 1.3x by the end of 2025. Forum Energy Technologies, Inc. (NYSE:FET) serves the crude oil, natural gas, and renewable energy industries. It designs, manufactures, and distributes engineered capital equipment and consumable products. It is included in our list of the hot stocks to buy. While we acknowledge the potential of FET as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Sign in to access your portfolio
Business Wire
07-08-2025
- Business
- Business Wire
Forum Energy Technologies Announces Second Quarter 2025 Results; Raises Full Year 2025 Cash Flow Guidance
HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced second quarter 2025 revenue of $200 million and net income of $8 million or $0.61 per diluted share. Adjusted for a $7 million sale leaseback transaction gain and $4 million of foreign exchange gains, partially offset by restructuring costs, net loss was $1 million or approximately $0.10 per diluted share. 1 Neal Lux, President and Chief Executive Officer, remarked, 'The FET team delivered strong results, with sequential improvements in bookings, revenue, adjusted EBITDA, and free cash flow. We achieved the eighth consecutive quarter of positive free cash flow, generating $168 million over that period. With this performance and our outlook, we are raising 2025 guidance to between $60 and $80 million. Applying our capital returns framework, we will use this free cash flow to further reduce net debt and execute share repurchases. 'This year we purchased 5% of our shares outstanding and, based on our guidance and current stock price range, are on track to repurchase another 10%. Concurrently, we would reduce our net leverage to 1.3 times by year end. FET's shares remain a compelling investment with a free cash flow yield around 30%. 'Strong bookings, including for offshore defense, pushed FET's backlog to its highest level in over ten years. While industry activity is expected to trend down further, this backlog combined with cost savings and tariff mitigation efforts supports our full year adjusted EBITDA forecast of approximately $85 million. For the third quarter, we expect adjusted EBITDA in the range of $19 to $23 million.' Segment Results (unless otherwise noted, comparisons are second quarter 2025 versus first quarter 2025) Drilling and Completions segment revenue was $117 million, a 1% increase, primarily due to improved coiled line pipe sales with growing demand in the U.S. and a large Middle East project, and demand for drilling-related capital equipment. The increase was offset by lower demand for completions-related equipment in our Stimulation and Intervention product line. Segment adjusted EBITDA was $11 million, an 8% decrease, due to unfavorable product mix from lower sales of higher margin products, partially offset by benefits of cost-saving initiatives. Orders were $178 million, up 35%, primarily from the submarine rescue vehicle system, additional remotely operated vehicles, and higher demand for coiled tubing. The Drilling and Completions segment provides consumable products and capital equipment for drilling, subsea, coiled tubing, wireline, and stimulation markets. Artificial Lift and Downhole segment revenue was $83 million, a 6% increase, primarily from higher demand for processing equipment technologies, downhole casing equipment, sand control products, and cable protection products. Segment adjusted EBITDA was $17 million, a 24% increase, due to higher revenue, favorable product mix, and benefits from cost-saving initiatives. Orders increased 24% to $85 million, primarily from higher demand for processing equipment and technologies, and sand control products. The Artificial Lift and Downhole segment engineers, manufactures, and supplies products for well construction, artificial lift, and oil and natural gas processing. FET® is a global manufacturing company, serving the oil, natural gas, industrial and renewable energy industries. With headquarters located in Houston, Texas, FET provides value added solutions aimed at improving the safety, efficiency, and environmental impact of our customers' operations. For more information, please visit Forward Looking Statements and Other Legal Disclosure This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the expectations of plans, strategies, objectives and anticipated financial and operating results of the Company, including any statement about the Company's outlook, future financial position, liquidity and capital resources, operations, performance, cash flow, acquisitions, returns, capital expenditure budgets, new product development activities, strategic investments, share repurchases, costs and other guidance included in this press release. These statements are based on certain assumptions made by the Company based on management's experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Among other things, these include the volatility of oil and natural gas prices, oilfield development activity levels, the availability of raw materials and specialized equipment, the Company's ability to deliver backlog in a timely fashion, the availability of skilled and qualified labor, competition in the oil and natural gas industry, governmental regulation and taxation of the oil and natural gas industry, the Company's ability to implement new technologies and services, the availability and terms of capital, and uncertainties regarding environmental regulations or litigation and other legal or regulatory developments affecting the Company's business, and other important factors that could cause actual results to differ materially from those projected as described in the Company's filings with the U.S. Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which such statement is made and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law. Forum Energy Technologies, Inc. Condensed consolidated statements of income (loss) (Unaudited) Six months ended June 30, (in millions, except per share information) 2025 2024 Revenue $ 393.0 $ 407.6 Cost of sales 275.3 280.8 Gross profit 117.7 126.8 Operating expenses Selling, general and administrative expenses 100.6 108.4 Transaction expenses 0.2 7.1 Gain on sale-leaseback transactions and other (6.6 ) 0.2 Total operating expenses 94.2 115.7 Operating income 23.5 11.1 Other expense (income) Interest expense 9.7 17.4 Foreign exchange losses (gains) and other, net (5.0 ) 4.2 Loss on extinguishment of debt — 0.5 Total other expense 4.7 22.1 Income (loss) before income taxes 18.8 (11.0 ) Income tax expense 10.0 6.0 Net income (loss) (1) $ 8.8 $ (17.0 ) Weighted average shares outstanding Basic 12.3 12.3 Diluted 12.5 12.3 Earnings (loss) per share Basic $ 0.72 $ (1.39 ) Diluted $ 0.70 $ (1.39 ) (1) Refer to Table 2 for schedule of adjusting items. Expand Forum Energy Technologies, Inc. Condensed consolidated balance sheets (Unaudited) June 30, December 31, (in millions of dollars) 2025 2024 Assets Current assets Cash and cash equivalents $ 39.0 $ 44.7 Accounts receivable—trade, net 155.0 153.9 Inventories, net 260.0 265.5 Other current assets 33.7 31.5 Total current assets 487.7 495.6 Property and equipment, net of accumulated depreciation 58.0 63.4 Operating lease assets 77.8 70.4 Goodwill and other intangible assets, net 168.9 170.9 Other long-term assets 17.7 15.7 Total assets $ 810.1 $ 816.0 Liabilities and equity Current liabilities Current portion of long-term debt $ 1.7 $ 1.9 Other current liabilities 200.6 200.0 Total current liabilities 202.3 201.9 Long-term debt, net of current portion 157.7 186.5 Other long-term liabilities 115.9 107.8 Total liabilities 475.9 496.2 Total equity 334.2 319.8 Total liabilities and equity $ 810.1 $ 816.0 Expand Forum Energy Technologies, Inc. Condensed consolidated cash flow information (Unaudited) Six months ended June 30, (in millions of dollars) 2025 2024 Cash flows from operating activities Net income (loss) $ 8.8 $ (17.0 ) Depreciation and amortization 18.0 27.9 Inventory write down 0.8 1.8 Loss on extinguishment of debt — 0.5 Gain on sale-leaseback transactions (6.9 ) — Other noncash items and changes in working capital 4.4 14.9 Net cash provided by operating activities 25.1 28.1 Cash flows from investing activities Capital expenditures for property and equipment (3.1 ) (4.4 ) Proceeds from sale of property and equipment 0.1 — Payments related to business acquisition — (150.1 ) Proceeds from sale-leaseback transactions 8.0 — Net cash provided by (used in) investing activities 5.0 (154.5 ) Cash flows from financing activities Borrowings of debt 271.3 445.9 Repayments of debt (300.1 ) (326.8 ) Repurchases of stock (6.3 ) — Payment of withheld taxes on stock-based compensation plans (1.3 ) (1.1 ) Deferred financing costs (0.9 ) (3.1 ) Net cash provided by (used in) financing activities (37.3 ) 114.9 Effect of exchange rate changes on cash 1.5 (2.8 ) Net decrease in cash, cash equivalents and restricted cash $ (5.7 ) $ (14.3 ) Expand Forum Energy Technologies, Inc. Supplemental schedule - Segment information (Unaudited) As Reported As Adjusted (3) Three months ended Three months ended (in millions of dollars) June 30, 2025 June 30, 2024 March 31, 2025 June 30, 2025 June 30, 2024 March 31, 2025 Revenue Drilling and Completions $ 117.2 $ 117.0 $ 115.6 $ 117.2 $ 117.0 $ 115.6 Artificial Lift and Downhole 82.5 88.2 77.8 82.5 88.2 77.8 Eliminations 0.1 — (0.1 ) 0.1 — (0.1 ) Total revenue $ 199.8 $ 205.2 $ 193.3 $ 199.8 $ 205.2 $ 193.3 Operating income (loss) Drilling and Completions $ 7.3 $ 2.9 $ 9.4 $ 8.4 $ 3.6 $ 9.8 Operating Margin % 6.2 % 2.5 % 8.1 % 7.2 % 3.1 % 8.5 % Artificial Lift and Downhole 10.4 13.5 7.3 10.5 13.5 7.5 Operating Margin % 12.6 % 15.3 % 9.4 % 12.7 % 15.3 % 9.6 % Corporate (9.5 ) (7.0 ) (7.7 ) (9.3 ) (6.8 ) (7.6 ) Total segment operating income 8.2 9.4 9.0 9.6 10.3 9.7 Other items not in segment operating income (1) 6.5 (1.5 ) (0.2 ) — (0.2 ) (0.1 ) Total operating income $ 14.7 $ 7.9 $ 8.8 $ 9.6 $ 10.1 $ 9.6 Operating Margin % 7.4 % 3.8 % 4.6 % 4.8 % 4.9 % 5.0 % EBITDA (2) Drilling and Completions $ 14.7 $ 4.4 $ 13.3 $ 11.4 $ 11.5 $ 12.4 EBITDA Margin % 12.5 % 3.8 % 11.5 % 9.7 % 9.8 % 10.7 % Artificial Lift and Downhole 22.6 19.3 12.7 16.7 19.7 13.5 EBITDA Margin % 27.4 % 21.9 % 16.3 % 20.2 % 22.3 % 17.4 % Corporate (9.6 ) (5.2 ) (7.1 ) (7.6 ) (5.4 ) (5.8 ) Total EBITDA $ 27.7 $ 18.5 $ 18.9 $ 20.5 $ 25.8 $ 20.1 EBITDA Margin % 13.9 % 9.0 % 9.8 % 10.3 % 12.6 % 10.4 % (1) Includes transaction expenses, gain on sale-leaseback transaction, and gain (loss) on disposal of assets and other. (2) The Company believes that the presentation of EBITDA is useful to investors because EBITDA is an appropriate measure for evaluating operating performance and liquidity that reflects the resources available for strategic opportunities including, among others, investing in the business, strengthening the balance sheet, repurchasing securities and making strategic acquisitions. In addition, EBITDA is a widely used benchmark in the investment community. See the attached separate schedule for the reconciliation of GAAP to non-GAAP financial information. (3) Refer to Table 1 for schedule of adjusting items. Expand Forum Energy Technologies, Inc. Supplemental schedule - Segment information (Unaudited) As Reported As Adjusted (3) Six months ended Six months ended (in millions of dollars) June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024 Revenue Drilling and Completions $ 232.8 $ 236.1 $ 232.8 $ 236.1 Artificial Lift and Downhole 160.3 171.5 160.3 171.5 Eliminations (0.1 ) — (0.1 ) — Total revenue $ 393.0 $ 407.6 $ 393.0 $ 407.6 Operating income (loss) Drilling and Completions $ 16.6 $ 7.4 $ 18.2 $ 9.4 Operating Margin % 7.1 % 3.1 % 7.8 % 4.0 % Artificial Lift and Downhole 17.7 25.2 18.0 25.2 Operating Margin % 11.0 % 14.7 % 11.2 % 14.7 % Corporate (17.2 ) (14.1 ) (16.9 ) (13.7 ) Total segment operating income 17.1 18.5 19.3 20.9 Other items not in segment operating income (1) 6.4 (7.4 ) (0.1 ) (0.1 ) Total operating income $ 23.5 $ 11.1 $ 19.2 $ 20.8 Operating Margin % 6.0 % 2.7 % 4.9 % 5.1 % EBITDA (2) Drilling and Completions $ 28.0 $ 17.6 $ 23.8 $ 25.2 EBITDA Margin % 12.0 % 7.5 % 10.2 % 10.7 % Artificial Lift and Downhole 35.4 37.0 30.2 37.7 EBITDA Margin % 22.1 % 21.6 % 18.8 % 22.0 % Corporate (16.9 ) (20.3 ) (13.5 ) (11.0 ) Total EBITDA $ 46.5 $ 34.3 $ 40.5 $ 51.9 EBITDA Margin % 11.8 % 8.4 % 10.3 % 12.7 % (1) Includes transaction expenses, gain on sale-leaseback transaction, and gain (loss) on disposal of assets and other. (2) The Company believes that the presentation of EBITDA is useful to investors because EBITDA is an appropriate measure for evaluating operating performance and liquidity that reflects the resources available for strategic opportunities including, among others, investing in the business, strengthening the balance sheet, repurchasing securities and making strategic acquisitions. In addition, EBITDA is a widely used benchmark in the investment community. See the attached separate schedule for the reconciliation of GAAP to non-GAAP financial information. (3) Refer to Table 2 for schedule of adjusting items. Expand Forum Energy Technologies, Inc. Supplemental schedule - Orders information (Unaudited) Three months ended (in millions of dollars) June 30, 2025 June 30, 2024 March 31, 2025 Orders Drilling and Completions $ 177.8 $ 110.1 $ 132.1 Artificial Lift and Downhole 85.3 70.0 68.6 Total orders $ 263.1 $ 180.1 $ 200.7 Revenue Drilling and Completions $ 117.2 $ 117.0 $ 115.6 Artificial Lift and Downhole 82.5 88.2 77.8 Eliminations 0.1 — (0.1 ) Total revenue $ 199.8 $ 205.2 $ 193.3 Book to bill ratio (1) Drilling and Completions 1.52 0.94 1.14 Artificial Lift and Downhole 1.03 0.79 0.88 Total book to bill ratio 1.32 0.88 1.04 (1) The book-to-bill ratio is calculated by dividing the dollar value of orders received in a given period by the revenue earned in that same period. The Company believes that this ratio is useful to investors because it provides an indication of whether the demand for our products is strengthening or declining. A ratio of greater than one is indicative of improving market demand, while a ratio of less than one would suggest weakening demand. In addition, the Company believes the book-to-bill ratio provides more meaningful insight into future revenues for our business than other measures, such as order backlog, because the majority of our products are activity based consumable items or shorter cycle capital equipment, neither of which are typically ordered by customers far in advance. Expand Forum Energy Technologies, Inc. Reconciliation of GAAP to non-GAAP financial information (Unaudited) Table 1 - Adjusting items Three months ended June 30, 2025 June 30, 2024 March 31, 2025 (in millions, except per share information) Operating income EBITDA (1) Net income (loss) Operating income EBITDA (1) Net income (loss) Operating income EBITDA (1) Net income (loss) As reported $ 14.7 $ 27.7 $ 7.7 $ 7.9 $ 18.5 $ (6.7 ) $ 8.8 $ 18.9 $ 1.1 % of revenue 7.4 % 13.9 % 3.8 % 9.0 % 4.6 % 9.8 % Restructuring and other costs 1.7 1.7 1.7 1.0 1.0 1.0 0.8 0.8 0.8 Transaction expenses 0.1 0.1 0.1 1.2 1.2 1.2 0.1 0.1 0.1 Inventory and other working capital adjustments — — — — — — (0.1 ) (0.1 ) (0.1 ) Stock-based compensation expense — 1.7 — — 1.5 — — 1.8 — Loss on extinguishment of debt — — — — 0.5 0.5 — — — Loss (gain) on foreign exchange, net (2) — (3.8 ) (3.8 ) — 3.1 3.1 — (1.4 ) (1.4 ) Gain on sale-leaseback transactions (6.9 ) (6.9 ) (6.9 ) — — — — — — As adjusted (1) $ 9.6 $ 20.5 $ (1.2 ) $ 10.1 $ 25.8 $ (0.9 ) $ 9.6 $ 20.1 $ 0.5 % of revenue 4.8 % 10.3 % 4.9 % 12.6 % 5.0 % 10.4 % Diluted shares outstanding as reported 12.6 12.3 12.6 Diluted shares outstanding as adjusted 12.6 12.3 12.6 Diluted EPS - as reported $ 0.61 $ (0.54 ) $ 0.09 Diluted EPS - as adjusted $ (0.10 ) $ (0.07 ) $ 0.04 (1) The Company believes that the presentation of EBITDA, adjusted EBITDA, adjusted operating loss, adjusted net loss and adjusted diluted EPS are useful to investors because (i) each of these financial metrics are useful to investors to assess and understand operating performance, especially when comparing those results with previous and subsequent periods or forecasting performance for future periods, primarily because management views the excluded items to be outside of normal operating results and (ii) EBITDA is an appropriate measure of evaluating operating performance and liquidity that reflects the resources available for strategic opportunities including, among others, investing in the business, strengthening the balance sheet, repurchasing securities and making strategic acquisitions. In addition, these benchmarks are widely used in the investment community. See the attached separate schedule for the reconciliation of GAAP to non-GAAP financial information. (2) Foreign exchange, net primarily relates to cash and receivables denominated in U.S. dollars by some of our non-U.S. subsidiaries that report in a local currency, and therefore the loss (gain) has no economic impact in dollar terms. Expand Forum Energy Technologies, Inc. Reconciliation of GAAP to non-GAAP financial information (Unaudited) Table 2 - Adjusting items Six months ended June 30, 2025 June 30, 2024 (in millions, except per share information) Operating income EBITDA (1) Net income (loss) Operating income EBITDA (1) Net income (loss) As reported $ 23.5 $ 46.5 $ 8.8 $ 11.1 $ 34.3 $ (17.0 ) % of revenue 6.0 % 11.8 % 2.7 % 8.4 % Restructuring and other costs 2.5 2.5 2.5 2.6 2.6 2.6 Transaction expenses 0.2 0.2 0.2 7.1 7.1 7.1 Inventory and other working capital adjustments (0.1 ) (0.1 ) (0.1 ) — — — Stock-based compensation expense — 3.5 — — 3.0 — Loss on extinguishment of debt — — — — 0.5 0.5 Loss (gain) on foreign exchange, net (2) — (5.2 ) (5.2 ) — 4.4 4.4 Gain on sale-leaseback transactions (6.9 ) (6.9 ) (6.9 ) — — — As adjusted (1) $ 19.2 $ 40.5 $ (0.7 ) $ 20.8 $ 51.9 $ (2.4 ) % of revenue 4.9 % 10.3 % 5.1 % 12.7 % Diluted shares outstanding as reported 12.5 12.3 Diluted shares outstanding as adjusted 12.5 12.3 Diluted EPS - as reported $ 0.70 $ (1.39 ) Diluted EPS - as adjusted $ (0.06 ) $ (0.20 ) (1) The Company believes that the presentation of EBITDA, adjusted EBITDA, adjusted operating loss, adjusted net loss and adjusted diluted EPS are useful to investors because (i) they assist with assessing and understanding operating performance, especially when comparing those results with previous and subsequent periods or forecasting performance for future periods, primarily because management views the excluded items to be outside of the Company's normal operating results and (ii) EBITDA is an appropriate measure of evaluating operating performance and liquidity that reflects the resources available for strategic opportunities including, among others, investing in the business, strengthening the balance sheet, repurchasing securities and making strategic acquisitions. In addition, these benchmarks are widely used in the investment community. See the attached separate schedule for the reconciliation of GAAP to non-GAAP financial information. (2) Foreign exchange, net primarily relates to cash and receivables denominated in U.S. dollars by some of our non-U.S. subsidiaries that report in a local currency, and therefore the loss (gain) has no economic impact in dollar terms. Expand Forum Energy Technologies, Inc. Reconciliation of GAAP to non-GAAP financial information (Unaudited) Table 4 - Adjusting Items Six months ended (in millions of dollars) June 30, 2025 June 30, 2024 EBITDA reconciliation (1) Net income (loss) $ 8.8 $ (17.0 ) Interest expense 9.7 17.4 Depreciation and amortization 18.0 27.9 Income tax expense 10.0 6.0 EBITDA $ 46.5 $ 34.3 (1) The Company believes adjusted EBITDA is useful to investors because it is an appropriate measure of evaluating operating performance and liquidity. It reflects the resources available for strategic opportunities including, among others, investing in the business, strengthening the balance sheet, repurchasing securities, and making strategic acquisitions. In addition, adjusted EBITDA is a widely used benchmark in the investment community. Expand Forum Energy Technologies, Inc. Reconciliation of GAAP to non-GAAP financial information (Unaudited) Table 5 - Adjusting items Three months ended (in millions of dollars) June 30, 2025 June 30, 2024 March 31, 2025 Free cash flow, before acquisitions, reconciliation (1) Net cash provided by operating activities $ 15.8 $ 23.1 $ 9.3 Capital expenditures for property and equipment (1.0 ) (1.5 ) (2.1 ) Proceeds from sale of property and equipment 0.1 (0.2 ) — Proceeds from sale-leaseback transactions 8.0 — — Free cash flow, before acquisitions $ 22.9 $ 21.4 $ 7.2 (1) The Company believes free cash flow, before acquisitions is an important measure because it encompasses both profitability and capital management in evaluating results. (2) The free cash flow yield disclosed is a financial ratio calculated by dividing annualized free cash flow by the Company's market capitalization as of August 6, 2025, and using the midpoint ($70 million) of guided full year free cash flow. As of August 6, 2025, the free cash flow yield was 30%. We believe free cash flow yield is useful to investors as a measure of the Company's ability to generate free cash flow in comparison to its market capitalization and allows for comparisons across peer companies. Expand Forum Energy Technologies, Inc. Reconciliation of GAAP to non-GAAP financial information (Unaudited) Table 6 - Adjusting items Six months ended (in millions of dollars) June 30, 2025 Free cash flow, before acquisitions, reconciliation (1) Net cash provided by operating activities $ 25.1 $ 28.1 Capital expenditures for property and equipment (3.1 ) (4.4 ) Proceeds from sale of property and equipment 0.1 — Proceeds from sale-leaseback transactions 8.0 — Free cash flow, before acquisitions $ 30.1 $ 23.7 (1) The Company believes free cash flow, before acquisitions is an important measure because it encompasses both profitability and capital management in evaluating results. (2) The free cash flow yield disclosed is a financial ratio calculated by dividing annualized free cash flow by the Company's market capitalization as of August 6, 2025, and using the midpoint ($70 million) of guided full year free cash flow. As of August 6, 2025, the free cash flow yield was 30%. We believe free cash flow yield is useful to investors as a measure of the Company's ability to generate free cash flow in comparison to its market capitalization and allows for comparisons across peer companies. Expand
Yahoo
05-07-2025
- Business
- Yahoo
Why Forum Energy Technologies Stock Skyrocketed by 32% in June
The company announced a contract with the Indonesian Navy. It will build that organization a rescue submarine and accompanying technology. 10 stocks we like better than Forum Energy Technologies › Forum Energy Technologies (NYSE: FET), a somewhat under-the-radar product supplier to the oil and gas and defense industries, saw a dramatic increase in its share price in June. This was due mainly to a large contract it secured to provide components for a military client across the Pacific Ocean. Investors clearly liked what they heard about the new deal, as they bid up the company's stock by 32% during the month. In mid-month, Forum announced that it had executed a contract with the Indonesian Navy for the supply of a submarine rescue vehicle (SRV) system. The contract covers the SRV, along with a custom-designed launch and recovery system (LARS) and a decompression system. The SRV is an LR600, a craft purpose-designed and built for rescue operations, and will be equipped with the most up-to-date technology to locate submarines in need of rescue, Forum said. It can perform at depths of up to 605 meters (1,985 feet) and carry up to 20 people. According to the company, it is to be fully integrated with a hyperbaric rescue facility. The LR600 itself is being constructed at a Forum facility in England, while the LARS is to be manufactured in another facility in the company's home state of Texas. In the press release touting its Indonesian Navy contract, Forum quoted its CEO Neal Lux as saying, "Our cutting-edge technologies remain at the forefront of the subsea sector and the safety systems of choice for military and naval forces around the world," adding, "This award also showcases the breadth of our product portfolio and extensive technology capabilities across many differentiated end markets." Forum did not provide any financial details of the Indonesian Navy contract. Perhaps due to its work for government entities, Forum is not the most forthcoming company on the market. So, it feels entirely in character for it to provide only a bare-bones look at the Indonesia deal. Still, it's admirable that the company was able to win what must be a sizable contract for the SRV and the technology accompanying it. Without knowing the financial particulars of the deal, it's tough to gauge how it might impact Forum's fundamentals. We can say that the company knows how to improve its sales through contracts like this -- on an annual basis, they have climbed steadily and, at times, steeply, from just under $512.5 million in 2020 to over $816 million last year. The bottom line is less encouraging, as it has eked out a headline annual net profit only once ($3.7 million in 2022) across the same stretch of time. Before you buy stock in Forum Energy Technologies, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Forum Energy Technologies wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $699,558!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $976,677!* Now, it's worth noting Stock Advisor's total average return is 1,060% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 30, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Forum Energy Technologies Stock Skyrocketed by 32% in June was originally published by The Motley Fool Sign in to access your portfolio
Yahoo
12-06-2025
- Business
- Yahoo
Forum Energy Technologies to Supply State of the Art Submarine Rescue System for Indonesian Navy
HOUSTON, Texas, June 12, 2025--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) announced today that it executed a contract to supply a state-of-the-art submarine rescue vehicle system ("SRV") for use by the Indonesian Navy. The contract comprises an SRV, a launch and recovery system, and a decompression system. Neal Lux, President and Chief Executive Officer, remarked, "With 50 years of experience, FET has pioneered the development of manned and unmanned submersibles, and has supplied defense equipment and services to various countries across Europe and Asia. Our cutting-edge technologies remain at the forefront of the subsea sector and the safety systems of choice for military and naval forces around the world. This award also showcases the breadth of our product portfolio and extensive technology capabilities across many differentiated end markets. Building on our successful track record, we are excited to work on this important project." Product Details: The new LR600 model SRV, a piloted rescue submersible, will be capable of operating at depths of up to 605 meters, carrying 20 people, and will be fully integrated with a hyperbaric rescue facility. The SRV will also utilize the latest technologies to locate a distressed submarine and quickly transfer personnel. State of the art sensors and sonar are fully embedded into the FET systems to deliver advanced functionality, including automatic depth, heading, and piloting capabilities. Sea trials are planned for 2028. The SRV will be built at FET's Kirkbymoorside, Yorkshire, England facility and the bespoke LARS will be manufactured at FET's Bryan, Texas facility. FET® is a global manufacturing company, serving the oil, natural gas, industrial and renewable energy industries. With headquarters located in Houston, Texas, FET provides value added solutions aimed at improving the safety, efficiency, and environmental impact of our customers' operations. For more information, please visit View source version on Contacts Rob KuklaDirector Investor Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-06-2025
- Business
- Yahoo
Forum Energy Technologies to Supply State of the Art Submarine Rescue System for Indonesian Navy
HOUSTON, Texas, June 12, 2025--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) announced today that it executed a contract to supply a state-of-the-art submarine rescue vehicle system ("SRV") for use by the Indonesian Navy. The contract comprises an SRV, a launch and recovery system, and a decompression system. Neal Lux, President and Chief Executive Officer, remarked, "With 50 years of experience, FET has pioneered the development of manned and unmanned submersibles, and has supplied defense equipment and services to various countries across Europe and Asia. Our cutting-edge technologies remain at the forefront of the subsea sector and the safety systems of choice for military and naval forces around the world. This award also showcases the breadth of our product portfolio and extensive technology capabilities across many differentiated end markets. Building on our successful track record, we are excited to work on this important project." Product Details: The new LR600 model SRV, a piloted rescue submersible, will be capable of operating at depths of up to 605 meters, carrying 20 people, and will be fully integrated with a hyperbaric rescue facility. The SRV will also utilize the latest technologies to locate a distressed submarine and quickly transfer personnel. State of the art sensors and sonar are fully embedded into the FET systems to deliver advanced functionality, including automatic depth, heading, and piloting capabilities. Sea trials are planned for 2028. The SRV will be built at FET's Kirkbymoorside, Yorkshire, England facility and the bespoke LARS will be manufactured at FET's Bryan, Texas facility. FET® is a global manufacturing company, serving the oil, natural gas, industrial and renewable energy industries. With headquarters located in Houston, Texas, FET provides value added solutions aimed at improving the safety, efficiency, and environmental impact of our customers' operations. For more information, please visit View source version on Contacts Rob KuklaDirector Investor
