Forum Energy Technologies, Inc.
FETForum Energy Technologies, Inc. (FET) is a global provider of equipment and services to the energy industry, focusing on the upstream oil and gas sector. The company offers products used in drilling, completion, production, and subsea applications, along with related services. Headquartered in Houston, Texas, FET serves drilling contractors, oil and gas operators, and service companies worldwide, emphasizing innovation and quality in its specialized equipment.
Company News
Forum Energy Technologies reported Q2 2025 earnings with GAAP EPS of $0.61, beating analyst expectations, but adjusted EPS showed a net loss of $0.10. Revenue was $199.8 million, down 2.6% year-over-year, with increased order intake and a strong backlog.
The global remote operated vehicle (ROV) market is projected to grow from USD 2.05 billion in 2024 to USD 5.56 billion by 2034, driven by increasing underwater exploration, offshore infrastructure maintenance, and defense applications.
Forum Energy Technologies won a significant contract with the Indonesian Navy to supply a submarine rescue vehicle (SRV) system, leading to a 32% stock price increase in June. The contract includes an advanced rescue craft capable of operating at depths up to 605 meters and carrying 20 people.
Bird Construction Inc. has appointed Evelyn Angelle, a private investor and director with extensive experience in public accounting and senior financial roles, to its Board of Directors. Angelle's expertise will be instrumental as Bird continues to pursue its strategic growth initiatives.
Three popular AI crypto tokens are about to combine into one new super token.
