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Forum Energy Technologies Inc   (FET)
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Price: $18.2500 $0.05 0.275%
Day's High: $18.865 Week Perf: -1.62 %
Day's Low: $ 18.11 30 Day Perf: -7.74 %
Volume (M): 38 52 Wk High: $ 28.73
Volume (M$): $ 695 52 Wk Avg: $22.90
Open: $18.11 52 Wk Low: $17.65



 Market Capitalization (Millions $) 190
 Shares Outstanding (Millions) 10
 Employees 2,050
 Revenues (TTM) (Millions $) 744
 Net Income (TTM) (Millions $) -15
 Cash Flow (TTM) (Millions $) 17
 Capital Exp. (TTM) (Millions $) 8

Forum Energy Technologies Inc

We design, manufacture and distribute products and engage in aftermarket services, parts supply and related services that complement our product offering. Our product offering includes a mix of highly engineered capital products and frequently replaced items that are used in the exploration, development, production and transportation of oil and natural gas. Our capital products are targeted at: drilling rig equipment for new rigs, upgrades and refurbishment projects; subsea construction and development projects; the placement of production equipment on new producing wells; pressure pumping equipment; and downstream capital projects. Our engineered systems are critical components used on drilling rigs, for well completions or in the course of subsea operations, while our consumable products are used to maintain efficient and safe operations at well sites in the well construction process, within the supporting infrastructure and at processing centers and refineries. Historically, over 60% of our revenue is derived from activity-based consumable products, while the balance is derived from capital products and a small amount from rental and other services.

We seek to design, manufacture and supply reliable products that create value for our diverse customer base, which includes, among others, oil and natural gas operators, land and offshore drilling contractors, oilfield service companies, subsea construction and service companies in both oil and natural gas and non-oil and natural gas industries, and pipeline and refinery operators.
We operate three business segments, Drilling & Subsea, Completions, and Production & Infrastructure.

In our Drilling & Subsea segment, we design, manufacture and supply products and provide related services to the drilling and subsea construction markets. Through this segment, we offer drilling technologies, including capital equipment and a broad line of products consumed in the drilling process; and subsea technologies, including robotic vehicles and other capital equipment, specialty components and tooling, a broad suite of complementary subsea technical services and rental items, and products used in pipeline infrastructure.

In our Completions segment, we design, manufacture and supply products and provide related services to the well construction, completion, stimulation and intervention markets. Through this segment, we offer downhole technologies, including cementing and casing tools, completion products, and a range of downhole cable protection solutions; and stimulation and intervention technologies, including pumps and well stimulation consumable products and related recertification and refurbishment services.

The level of spending to bring new wells on production, including the related infrastructure is the primary driver for our Production & Infrastructure segment. Our Production Equipment product line also has exposure to the amount of spending on midstream and downstream projects as it offers products that go from the well site to inside the refinery fence. Our Valve Solutions product line is impacted by the level of infrastructure additions, upgrades and maintenance activities across the oil and natural gas industry, including the upstream, midstream and downstream sectors. This includes heavy oil development in Canada and investments in new petrochemical facilities. In addition, our valves are used in the power, process and mining industries.



   Company Address: 10344 Sam Houston Park Drive Houston 77064 TX
   Company Phone Number: 949-2500   Stock Exchange / Ticker: NYSE FET
   


Customers Net Income fell by FET's Customers Net Profit Margin fell to

-47.24 %

15.27 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
BKR        2.86% 
FTI        10.13% 
NOV        3.8% 
DOV   -0.48%    
FLR        6.44% 
GE        1.46% 
• View Complete Report
   



Business Update

Forum Energy Technologies Faces Challenges in Earnings Release and Investor Call as Revenue and Costs Decline

Published Tue, Feb 20 2024 1:12 AM UTC

Forum Energy Technologies, Inc. (NYSE: FET) has announced a delay in the issuance of its fourth quarter and full year 2023 earnings release and investor conference call. The company needs additional time to evaluate the impact of adjusting valuation allowance reserves in an international jurisdiction on income tax and net income. While no significant impact is expected on re...

Merger and Acquisition

Forum Energy Technologies Enhances Heavy Oil Solutions with Variperm Energy Services Acquisition

Published Fri, Jan 5 2024 1:29 PM UTC


HOUSTON - In a significant move to bolster its position in the heavy oil industry, Forum Energy Technologies, Inc. (NYSE: FET) has successfully completed the acquisition of Variperm Energy Services (Variperm), a leading manufacturer of customized downhole technology solutions. With a rich portfolio of sand and flow control products designed specifically for heavy oil ap...

Merger and Acquisition

Forum Energy Technologies Secures Approval for Variperm Acquisition, Igniting Investor Optimism

Published Thu, Dec 21 2023 1:29 PM UTC

Forum Energy Technologies Receives Approval for Variperm Acquisition, Boosting Shareholder Confidence
Houston-based energy products and services company, Forum Energy Technologies Inc (FET), has received the green light from the Canadian Competition Bureau to proceed with its anticipated acquisition of Variperm Energy Services. The acquisition, initially announced on Nov...

Management Changes

Forum Energy Technologies Bolsters Board of Directors with Energy Sector Veteran Leslie Beyer

Published Mon, Dec 4 2023 1:29 PM UTC



Forum Energy Technologies Inc. (NYSE: FET) has recently announced the appointment of Ms. Leslie Beyer to its board of directors, along with her inclusion in the Nominating, Governance, and Sustainability Committee. Ms. Beyer, former CEO of the Energy Workforce and Technology Council (EWTC), brings her extensive experience in the energy sector to further enhance the...

Forum Energy Technologies Inc

Forum Energy Technologies Inc Faces Major Revenue Decline in Q3 2023, Fueling Investor Concerns

Forum Energy Technologies Inc (FET) reported a significant decline in earnings per share by -57.69% to $0.77 and a decrease in revenue by -1.547% to $179.02 million in the third quarter of the 2023 earnings season compared to the previous year. This is a worrying sign for investors, as the Miscellaneous Fabricated Products sector recorded a revenue rise during the same period.
In the prior reporting period, FET had a positive EPS of $-0.64 per share, but it has now turned negative. Additionally, revenue decreased by -3.391% from $185.31 million. This decline in profitability is a concerning trend for FET.






 

Forum Energy Technologies Inc's Segments
 
 
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