Curated News
By: NewsRamp Editorial Staff
May 05, 2025
Stonegate Capital Partners Updates Coverage on Forum Energy Technologies, Inc. After 1Q25 Results
TLDR
- FET's Drilling and Completions segment saw a 4.1% sequential revenue increase in 1Q25, leading to a surge in orders and improved margins.
- FET's revenue, adj EBITDA, and adj net income for 1Q25 came in slightly below expectations, with a focus on cost reduction and operational optimization.
- FET's strategic focus on higher-technology equipment and consumables positions them for international growth, enhancing long-term value and capital management.
- Stonegate Capital Partners updates on FET's performance, highlighting revenue growth in the Drilling and Completions segment and ongoing positive cash flow generation.
Impact - Why it Matters
This news matters as it provides insights into FET's financial performance for the first quarter of 2025, highlighting areas of growth and challenges faced by different segments. Investors and stakeholders can gain valuable information on FET's strategic focus, cash flows, capital allocation, and guidance amidst macroeconomic uncertainties, helping them make informed decisions.
Summary
Stonegate Capital Partners updates their coverage on Forum Energy Technologies, Inc. (NYSE: FET) after FET reported revenue, adj EBITDA, and adj net income slightly below expectations. The Drilling and Completions segment saw a rise in revenue and adjusted EBITDA due to increased demand for completions equipment. Meanwhile, the Artificial Lift and Downhole segment experienced a decline in revenue and orders, impacted by international project shipments and U.S. tariff uncertainty.
Source Statement
This curated news summary relied on this press release disributed by Reportable. Read the source press release here, Stonegate Capital Partners Updates Coverage on Forum Energy Technologies, Inc. After 1Q25 Results
