Loading...
•
Sep 30, 2021
Forum Q3 2021 Earnings Report
Revenue increased slightly, orders rose, and net loss decreased.
Key Takeaways
Forum Energy Technologies reported Q3 2021 revenue of $141 million, a 3% sequential increase. Orders were $176 million, up 11% sequentially, with a book-to-bill ratio of 1.25. The net loss was $12 million, an improvement from the previous quarter's $22 million loss. The board authorized a $10 million share repurchase program.
Revenue reached $141 million, a 3% increase sequentially.
Orders totaled $176 million, up 11% sequentially, resulting in a book-to-bill ratio of 1.25.
Net loss was $12 million, improved from a net loss of $22 million in the previous quarter.
A $10 million share repurchase program was authorized.
Forward Guidance
Forum Energy Technologies forecasts fourth quarter revenue to be between $145 and $155 million and EBITDA of $9 to $11 million.
Positive Outlook
- Fourth quarter revenue is forecasted to be between $145 and $155 million.
- Fourth quarter EBITDA is projected to be between $9 and $11 million.
- A constructive market environment is expected to support continued growth in 2022.
- The company has a strong backlog.
- The company is beginning to see the benefits of pricing improvements.
Challenges Ahead
- Ongoing supply chain disruptions are impacting the company.
- Cost inflation is impacting the company.
- COVID related disruptions for customers' field operations are impacting revenue.
- Production segment EBITDA was negative $2 million.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...