Forum Energy Technologies Q3 revenue rises; 2026 outlook lifted

Overview

• US oilfield equipment maker's Q3 revenue rose about 5% sequentially

• Company raised full-year 2026 guidance citing strong demand and industry activity

Outlook

• Forum Energy Technologies raises full-year 2026 revenue guidance to $900 mln-$920 mln

• Company expects Q4 2026 revenue between $230 mln and $250 mln

• Forum Energy Technologies sees full-year 2026 adjusted EBITDA of $123 mln-$129 mln

Result Drivers

• BROAD-BASED GROWTH - Co said Q3 results reflected broad-based growth and continued market share gains

• ACQUISITION IMPACT - Premiere Torque Rings acquisition expanded addressable market and contributed to segment revenue growth

• PRODUCT DEMAND - Higher demand for sand and flow control solutions and valve products supported Artificial Lift and Downhole segment revenue

Company press release:

Key Details

Analyst Coverage

• The one available analyst rating on the shares is "strong buy"

• The average consensus recommendation for the oil related services and equipment peer group is "buy."

• Wall Street's median 12-month price target for Forum Energy Technologies Inc is $99.00, about 8.9% above its October 28 closing price of $90.91

• The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 21 three months ago

Reuters Recommended Reads

• Oct 28 - Oilfield services firms lean on Middle East rebound but risks persist

• Oct 27 - Nabors Q3 revenue beats estimates

• Oct 27 - NOV Q3 revenue beats estimates on Middle East demand

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)