Forum Energy Technologies (NYSE:FET) Releases Earnings Results, Misses Estimates By $0.58 EPS

Posted by Grant Hamersma on Feb 21st, 2025

Forum Energy Technologies (NYSE:FET – Get Free Report) announced its earnings results on Thursday. The oil and gas company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.58), Zacks reports. Forum Energy Technologies had a negative return on equity of 2.00% and a negative net margin of 6.07%. The company had revenue of $201.00 million for the quarter, compared to analyst estimates of $201.85 million.

Forum Energy Technologies Trading Down 4.9 %

FET stock traded down $0.93 during mid-day trading on Friday, reaching $18.06. 51,695 shares of the stock traded hands, compared to its average volume of 66,549. Forum Energy Technologies has a 52-week low of $12.83 and a 52-week high of $20.85. The stock’s fifty day moving average is $17.17 and its 200-day moving average is $16.20. The company has a market cap of $221.78 million, a P/E ratio of -4.26 and a beta of 2.38. The company has a current ratio of 1.93, a quick ratio of 0.87 and a debt-to-equity ratio of 0.37.

Insider Transactions at Forum Energy Technologies

In other news, Director Louis Raspino sold 4,950 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $15.41, for a total value of $76,279.50. Following the completion of the sale, the director now owns 16,121 shares of the company’s stock, valued at $248,424.61. This trade represents a 23.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 6.20% of the stock is currently owned by insiders.

About Forum Energy Technologies

(Get Free Report)

Forum Energy Technologies, Inc designs, manufactures, and distributes products serving the oil, natural gas, industrial, and renewable energy industries in the United States and internationally. It operates through three segments: Drilling & Downhole, Completions, and Production. The Drilling & Downhole segment designs, manufactures, and supplies products, and provides related services to the drilling, well construction, artificial lift, and subsea energy construction and services markets, including applications in oil and natural gas, renewable energy, defense, and communications.