Forum Energy Technologies, Inc. Provides Earnings Guidance for the Fourth Quarter, Full Year Ended December 31, 2023 and First Quarter of 2024
February 19, 2024 at 08:12 pm EST
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Forum Energy Technologies, Inc. provided earnings guidance for the fourth quarter, full year ended December 31, 2023 and first quarter of 2024. Fourth quarter 2023 revenue was $185 million, a $6 million increase from the third quarter.
For the year 2023, the company expects revenue to be $739 million, a 6% year-over-year increase.
For the first quarter, the company forecast FET revenue of $200 to $220 million.
Forum Energy Technologies, Inc. is a global company serving the oil, natural gas, industrial, and renewable energy industries. The Companyâs segments include Drilling & Downhole, Completions and Production. Its Drilling & Downhole segment designs, manufactures and supplies products and provides related services to the drilling, well construction, artificial lift, and subsea energy construction markets, including applications in oil and natural gas, renewable energy, defense, and communications. Its Completions segment designs, manufactures and supplies products and provides related services to the coiled tubing, well stimulation and intervention markets. Its Production segment designs, manufactures, and supplies products and provides related equipment and services for the production and infrastructure markets. It provides a range of industrial valves. The Company also manufactures customized downhole technology solutions in sand and flow control for heavy oil applications.
FORUM ENERGY TECHNOLOGIES, INC. 
