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Jun 30, 2021
Forum Q2 2021 Earnings Report
Second quarter 2021 results announced.
Key Takeaways
Forum Energy Technologies reported Q2 2021 revenue of $137 million, a 20% sequential increase. The company's net loss was $22 million, or $3.87 per diluted share. Adjusted EBITDA was $7 million, and free cash flow was $4 million.
Revenue of $137 million, a 20% sequential increase.
Net loss of $22 million and diluted EPS of negative $3.87.
Adjusted EBITDA of $7 million.
Operating cash flow of $4 million and free cash flow of $4 million.
Forward Guidance
The company expects a further increase in U.S. and international drilling and completion activity during the second half of 2021. Based on this increasing activity and growing backlog, the company is forecasting third quarter revenue to be between $145 and $155 million and EBITDA of $7 to $9 million. The company anticipates fourth quarter EBITDA will be between $10 and $14 million.
Positive Outlook
- Expect a further increase in U.S. and international drilling and completion activity during the second half of 2021.
- Forecasted third quarter revenue to be between $145 and $155 million.
- Forecasted third quarter EBITDA of $7 to $9 million.
- Anticipate fourth quarter EBITDA will be between $10 and $14 million.
- Growing backlog
Challenges Ahead
- Supply chain inflation will continue to impact us in the third quarter
Historical Earnings Impact
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Avg. Return Before/After Earnings
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