Forum Energy Technologies Q3 2025 Earnings Release

Forum Energy Technologies, Inc. (NYSE: FET) reported its third quarter 2025 results, announcing a revenue of $196 million, a 2% sequential decrease. The company posted a net loss of $21 million, or $1.76 per diluted share, but adjusted net income was $3 million, or $0.27 per diluted share, after accounting for $22 million in asset impairments and restructuring costs. Adjusted EBITDA increased by 13% sequentially to $23 million. The company raised its full-year 2025 free cash flow guidance to $70-$80 million, reflecting strong operational performance and cost-saving initiatives. Orders for the quarter were $240 million, resulting in a 122% book-to-bill ratio, the highest backlog in over a decade. The company also repurchased 635,000 shares for $15 million.