Forum Energy Technologies Q2 revenue rises, lifts FY outlook

Forum Energy Technologies

30/07/2026 22:13

Overview
U.S. oilfield equipment maker's Q2 revenue rose 8% sequentially
Adjusted net income and adjusted EPS for Q2 rose over 140% sequentially
Company repurchased $8 mln in shares in first half, raised full-year guidance

Outlook
Forum Energy Technologies raises full-year 2026 revenue guidance to $870-$910 mln
Company expects full-year 2026 adjusted EBITDA of $115-$125 mln
Forum Energy Technologies sees full-year 2026 adjusted net income of $42-$52 mln

Result Drivers
HIGHER DEMAND - Increased sales of coiled tubing, wireline cables, and capital equipment drove Drilling and Completions segment revenue, per company
COST MANAGEMENT - Improved plant utilization and facility consolidation supported margin expansion in Drilling and Completions, per company
PRODUCT DEMAND - Artificial Lift and Downhole segment revenue rose on higher demand for sand and flow control solutions, artificial lift products, and casing equipment, though partly offset by delayed deliveries

Company press release: ID:nBw9VGf6ca

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$226.22 mln
$212.35 mln (2 Analysts)
Q2 Net Income
 
$12.41 mln
 
Q2 Gross Profit
 
$71.35 mln
 
Q2 Operating Expenses
 
$50.85 mln
 
Q2 Operating Income
 
$20.51 mln
 
Q2 Pretax Profit
 
$16.009 mln
 

Analyst Coverage
Wall Street's median 12-month price target for Forum Energy Technologies Inc is $67.00, about 30.3% above its July 30 closing price of $51.43
The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 27 three months ago

Reuters Recommended Reads
July 30 - Oil States International Q2 revenue rises 8%
July 29 - Oilfield equipment maker Cactus beats Q2 revenue estimates; hikes FY capex view
July 27 - Baker Hughes flags lower spending by oil and gas producers in 2026

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.)