Overview

* Oilfield services firm Forum Energy's ( FET ) Q3 revenue of $196 mln beats analysts' expectations despite a 2% sequential decline

* Company reports Q3 net loss of $21 mln, but adjusted net income was $3 mln

Outlook

* Forum Energy ( FET ) raises full-year free cash flow guidance to $70 mln-80 mln

* Company forecasts Q4 adjusted EBITDA between $19 mln and $23 mln

* Expects backlog, market share gains and cost cuts to boost 2026 results

Result Drivers

* BOOKINGS AND BACKLOG - Strong orders of $240 mln driven by strength in offshore and international markets, increased the company's backlog by 21%, its highest in more than ten years

* COST SAVINGS - Accelerated cost savings efforts extended annualized target by 50% to $15 mln

* MARKET SHARE GAINS - Commercial and product development efforts allowed market share growth in challenging environment

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $196.2 $194.3

Revenue mln mln (2

Analysts

)

Q3 Net $21 mln

Loss

Q3 Gross $40.2

Profit mln

Q3 $46.3

Operatin mln

g

Expenses

Q3 $6.1 mln

Operatin

g Loss

Q3 $10.5

Pretax mln

Loss

Analyst Coverage

* Wall Street's median 12-month price target for Forum Energy Technologies Inc ( FET ) is $31.00, about 3.9% below its October 30 closing price of $32.22

Press Release:

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(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.)