Strong finish to '24, but some uncertainty in '25

Vermilion Booster Shots: Attractive bottom-fishing stocks

For investors looking for bottom-fishing candidates; stocks that are breaking downtrends, exhibiting ascending reaction lows, and showing stabilizing relative strength.

Moody's Ratings withdraws Forum Energy's ratings following debt repaym...

Moody's Ratings (Moody's) withdrew all of Forum Energy Technologies, Inc.'s (Forum) ratings, including its B3 Corporate Family Rating (CFR), B3-PD Probability of Default Rating (PDR), and Caa1 senior secured notes rating. The Speculative Grade Liquidity Rating (SGL) of SGL-4 was also withdrawn. Prio...

Forum Energy Technologies, Inc. - September 2024 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Forum Energy Technologies, Inc. - June 2024 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Estimate Update

We are updating our estimates to reflect higher expected interest expense in 2Q24. On the May 3, 2024, earnings call to discuss 1Q24 results, management indicated that 2Q24 interest expense would be ~$8 million. Our previously published 2Q24 interest expense estimate was $7.1 million. Our updated 2Q24 adjusted EPS estimate is $0.04 versus our prior $0.12 estimate. Management’s 2Q24 adjusted EBITDA outlook was $24-28 million. The 2Q24 outlook is based on estimated revenue of $200-220 million. By ...

Innovation Creates Opportunities to Gain Share

We hosted a fireside chat with President and CEO Neal Lux and CFO Lyle Williams on May 21, 2024. We discussed Forum Energy Technologies’ (FET) strategy to “beat the market” with innovative solutions in the traditional energy industry and opportunities unfolding in the energy transition. This report contains a transcript of the conversation, which can be accessed on demand. Link is accessible in our full report. FET’s strategy to increase shareholder value is to “beat the market” with its lineup ...

Forum Energy Technologies, Inc. - March 2024 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Technological Solutions That Improve Performance

Variperm’s margin accretive impact on FET’s financial performance was clearly evident in the company’s 1Q24 results. The acquisition, which closed in early January 2024, helped drive a 458-bp expansion in FET’s adjusted EBITDA margin in 1Q24, compared with 4Q23, and a 353-bp expansion Y/Y. The acquisition significantly enhanced FET’s Downhole and Artificial Lift segment product portfolio, exposing FET to new markets. Management believes it can leverage the combined global footprint of FET and Va...

Forum Energy Technologies, Inc.: Benefits from increased scale via acq...

Our credit view of this issuer reflects increasing refinancing risks, modest leverage and expectation for growing EBITDA.

Moody's Ratings affirms Forum Energy's CFR at B3; changes outlook to n...

Moody's Ratings (Moody's) affirmed Forum Energy Technologies, Inc.'s (Forum) Corporate Family Rating (CFR) at B3, Probability of Default Rating (PDR) at B3-PD, and senior secured notes' rating at Caa1. Forum's Speculative Grade Liquidity (SGL) rating was downgraded to SGL-4 from SGL-3. The outlook w...

Technology Solutions for Energy Development

Forum Energy Technologies (FET) provides technology solutions to the oil, natural gas, industrial, and renewable energy industries. The company’s products are designed to help customers safely increase operational efficiency and reduce the environmental impact of their activities. Product lines in the Drilling & Downhole and Completions segments are positioned to benefit from the E&P industry’s push toward longer lateral horizontal wells requiring more complex completion designs. Service intens...

Forum Energy Technologies, Inc. - December 2023 (LTM): Peer Snapshot 

Compares key performance metrics against industry peers.

Forum Energy Technologies, Inc.: Benefits from increased scale via acq...

Our credit view of this issuer reflects its modest leverage, constrained by its modest scale and its highly cyclical and competitive industry.

Forum Energy Technologies, Inc. - September 2023 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Moody's says Forum Energy's acquisition does not impact B3 rating and ...

Moody's Investors Service ("Moody's") commented that Forum Energy Technologies, Inc.'s (Forum) announced acquisition of Variperm Energy Services (Variperm) does not affect Forum's B3 Corporate Family Rating (CFR) and Caa1 rating on its senior secured notes, or the stable outlook. Forum's credit pr...

Forum Energy Technologies, Inc. - June 2023 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Forum Energy Technologies, Inc. - March 2023 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

InsiderInsights.com Daily Ratings Report: May 15, 2023

InsiderInsights Ratings of Companies with Open-Market Form 4 Purchases; Sales Filed at the SEC on the date above. We separate the real investment intelligence from the noise. Saving you time, and improving your research process