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 (FET) surged 6.84% after beating Q4 2025 earnings expectations with $202M revenue and $0.41 adjusted EPS versus analyst estimates of $191M and $0.36. The company projects 2026 revenue growth of 6% and adjusted EBITDA growth of 16%, supported by a record $312M backlog—the largest in 11 years.
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.
