Dallas, Texas--(Newsfile Corp. - May 5, 2025) - Forum Energy Technologies, Inc. (NYSE: FET) Stonegate Capital Partners updates their coverage on Forum Energy Technologies, Inc. (NYSE: FET). FET reported revenue, adj EBITDA, and adj net income of $193.3M, $20.1M, and $0.5M, respectively. This compares to our/consensus estimates of $196.3M/$196.5M, $22.9M/$23.0M, and $4.4M/$3.3M. It is noted that revenues were in-line with our expectations while GPM was slightly below expectations. Adj. EBITDA margins were also slightly below expectations at 10.4%. Adj. NI fell short of our expectations.

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Key Takeaways:

• In 1Q25, FET generated ~$7.0M of FCF, marking the seventh consecutive quarter of positive results.
• FET initiated actions to eliminate ~$10M of annualized costs.
• Drilling and Completions revenue increased by ~4% sequentially to $116.0M.

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About Stonegate

Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking, equity research and capital raising for public and private companies.

Source: Stonegate, Inc.

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