Forum Energy Technologies (FET) Reports Q1 Loss of $0.34
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Forum Energy Technologies Announces First Quarter 2023 Results and Reaffirms 2023 Guidance
May 4, 2023 4:44 PM EDTRevenue: $189 million, a 22% year-over-year increase Net loss: $4 million and diluted EPS of negative $0.34 Adjusted EBITDA: $18 million, a 99% year-over-year increase
HOUSTON--(BUSINESS WIRE)-- Forum Energy Technologies, Inc. (NYSE: FET) today announced first quarter 2023 revenue of $189 million, a 22% year-over-year increase and a $2 million sequential decrease. Orders received were $179 million, with a book-to-bill ratio of 95%. The first quarter 2023 net loss was $4 million, or $0.34 per diluted share, compared to net loss of $13 million, or $2.22 per diluted share, for the fourth quarter 2022.
Excluding $4 million, or... More
