Forum Energy Technologies reported a strong fourth quarter and full year 2024, with full year revenue increasing by 10% and adjusted EBITDA up 49% year-over-year. The company generated significant free cash flow and initiated a share repurchase program, while also providing 2025 guidance.
Full year 2024 revenue increased by 10% year-over-year to $816 million.
Adjusted EBITDA for 2024 was $100 million, a 49% increase from the previous year.
Operating cash flow and free cash flow for 2024 were $92 million and $105 million, respectively.
The company repurchased $2 million in shares in January 2025 as part of its shareholder return program.
Forum Energy Technologies expects global drilling and completion activity to decline in 2025, but anticipates overcoming most of this decline through market share gains, guiding for full year 2025 adjusted EBITDA between $85 million and $105 million and free cash flow between $40 million and $60 million.
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