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Forum Energy Technologies Q3 revenue rises; 2026 outlook lifted

By Reuters News


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

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$236.81 mln

$233.35 mln (2 Analysts)

Q3 Net Income

$11.23 mln

Q3 Gross Profit

$74.41 mln

Q3 Operating Expenses

$54.45 mln

Q3 Operating Income

$19.96 mln

Q3 Pretax Profit

$15.18 mln


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.)

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