Forum Energy Technologies Stock Surges Over 6% Pre-Market: Why is it Moving?
Forum Energy Technologies Inc. (NYSE: FET ) shares jumped 6.01% to $54.52 in pre-market trading Friday following the announcement of second-quarter results, where adjusted earnings per share of $1.16 topped analyst estimates of $0.56. The Texas-based oilfield products company released the data for the period ended Jun. 30 after markets closed Thursday. Revenue, Margins Beat Expectations Forum Energy reported revenue of $226.22 million against the expected $212.35 million, beating estimates by 6.53%. This marks an increase of roughly 8.4% from first-quarter revenue of $208.70 million, driven by stronger demand across its Drilling and Completions segment. Net income came in at $12.4 million, with diluted earnings per share of $1.05. Adjusted EBITDA rose 39% sequentially to $32 million, with total orders of $235.9 million and a 1.04 book-to-bill ratio. Company Raises Third-Quarter and Fu...
Forum Energy Technologies Inc. 56. The Texas-based oilfield products company released the data for the period ended Jun. 30 after markets closed Thursday.
53%. 70 million, driven by stronger demand across its Drilling and Completions segment. 05. 04 book-to-bill ratio.
Company Raises Third-Quarter and Full-Year Guidance For the third quarter, Forum Energy projected revenue of $225 million to $245 million and adjusted EBITDA of $31 million to $37 million, representing year-over-year growth of 20% and 48%, respectively. For full-year 2026, the company increased its guidance to revenue of $870 million to $910 million, reflecting 13% year-over-year growth, and adjusted EBITDA of $115 million to $125 million, representing a 40% year-over-year increase.
CEO Neal Lux said, “We are raising all guidance metrics for full year 2026,” pointing to the strength of first-half performance, market share gains and a healthy order backlog as the company works toward its long-term “FET 2030” strategic goals. FET 2030 is Forum Energy’s long-term growth roadmap, aimed at doubling revenue, expanding market share and tripling free cash flow by 2030. Alongside the earnings report, BlackRock Inc. 0% of Forum Energy’s outstanding common stock, as of Jun.
30. 38 million. 12. 59.
93%. 41% of its 52-week range, placing it in the upper half of its annual trading range. FET’s long-term trend and strong market position suggest that the stock may continue to have upside potential. 63%, according to Pro data.
56, Edge Stock Rankings indicate that FET is experiencing long-term upward movement along with medium and short-term consolidation. Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published editors. com