Q1 2026 Forum Energy Technologies Inc Earnings Call Transcript

May 1, 2026 / 03:00 PM GMT

Release Date Price: $58.74 (-6.57%)

Transcript 10-Q8-K

Key Points

Positve

Forum Energy Technologies Inc (FET) reported an 8% increase in revenue, a 14% rise in EBITDA, and a 300% surge in net income year-over-year.
The company achieved a book-to-bill ratio of 106% and entered the year with its highest backlog in 11 years, which grew by 44% compared to the previous year.
FET's structural cost-saving initiatives resulted in $15 million of annualized savings, enhancing organizational efficiency.
The company extended its credit facilities' maturity to 2031, strengthening its balance sheet and providing financial flexibility.
FET is actively gaining market share through innovation, with new products like DuraCoil 95 and Unity ROV system gaining traction globally.

Negative

Coil tubing revenue decreased by 17% due to customer-requested delivery pushouts into the second quarter.
The subsea product line, while growing, typically has lower contribution margins due to pass-through material and electronics costs.
The company experienced some disruptions in the Middle East due to logistics and freight costs, although these were mitigated.
Operating cash flow in Q1 was lower than the previous two years, attributed to timing issues with receivables collection.
Despite strong results, the equity market reaction was muted, reflecting high volatility in the company's stock.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

FET.N - Forum Energy Technologies Inc
Q1 2026 Forum Energy Technologies Inc Earnings Call
May 01, 2026 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, ladies and gentlemen, and welcome to the Forum Energy Technologies First Quarter 2026 Earnings Conference Call. My name is Daniel, and I will be your coordinator for today's call. There is a process for entering the question-and-answer queue. To ask a question during the session, you will need to press *11 on your telephone. You will then hear an automated message advising your hand is raised.

To withdraw your question, please press *11 again. At this time, all participants are in a listen-only mode, and all lines have been placed on mute to prevent any background noise. This conference call is being recorded for replay purposes and will be available on the company's website. I will now turn the

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