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Dec 31, 2025
Forum Q4 2025 Earnings Report
Forum Energy Technologies reported improved fourth quarter 2025 profitability with positive net income and solid adjusted EBITDA, supported by stronger performance in Drilling and Completions.
Key Takeaways
For Q4 2025, Forum Energy Technologies generated revenue of 202200000 and net income of 2072000, or 0.17 per diluted share. Adjusted net income was 5000000, or 0.41 per diluted share. Adjusted EBITDA was 22686000, with total orders of 187197000 and a total book-to-bill ratio of 0.93.
Revenue totaled 202200000 for the quarter.
Net income was 2072000, or 0.17 per diluted share.
Adjusted EBITDA was 22686000 with an 11.2% margin.
Orders were 187197000 with a book-to-bill ratio of 0.93.
Revenue by Segment
Forward Guidance
For full year 2026, Forum expects revenue between 800000000 and 880000000 and adjusted EBITDA between 90000000 and 110000000, with free cash flow of 55000000 to 75000000.
Positive Outlook
- 2026 revenue guidance of 800000000 to 880000000, up 6% at midpoint.
- Adjusted EBITDA guidance of 90000000 to 110000000, a 16% increase.
- Expected free cash flow between 55000000 and 75000000.
- Strong backlog entering 2026 at 312000000.
- Ongoing structural cost reductions and market share gains.
Challenges Ahead
- Global market activity expected to remain relatively flat in 2026.
- Exposure to oil and natural gas price volatility.
- Dependence on timely backlog conversion.
- Foreign exchange and tax-related risks.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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