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Dec 31, 2019
Forum Q4 2019 Earnings Report
Reported a decrease in revenue and net loss compared to the previous quarter, but free cash flow remained strong.
Key Takeaways
Forum Energy Technologies reported Q4 2019 revenue of $200 million, a net loss of $12 million, and free cash flow of $26 million. Revenue decreased by $40 million compared to Q3 2019. The company reduced net debt by $29 million during the quarter.
Revenue was $200 million.
Net loss was $12 million, or $(0.11) per diluted share.
Adjusted EBITDA was $11 million.
Free cash flow was $26 million.
Forward Guidance
The company expects oilfield activity to start slowly in 2020 due to low oil and natural gas prices and constrained spending budgets. Subject to uncertainties, the company expects EBITDA for 2020 to be within a range of $60 million to $70 million and free cash flow conversion to remain very high.
Positive Outlook
- Activity is expected to increase over the course of the year.
- EBITDA for 2020 is expected to be within a range of $60 million to $70 million.
- Free cash flow conversion is expected to remain very high.
- Generating free cash flow remains a top priority.
- Managing for cost efficiency remains a top priority.
Challenges Ahead
- Oilfield activity is off to a slow start in 2020.
- Oil and natural gas prices are low.
- Spending budgets are constrained.
- There is uncertainty about the demand for oil due to concerns about the coronavirus.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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