NYSE$FET

Forum Energy Technologies Inc · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Announced full year and fourth quarter results, revealing increased revenue and orders, but also a net loss for the quarter.

Forum Energy Technologies reported Q4 2021 revenue of $148 million and orders of $160 million. The company experienced a net loss of $20 million, or $3.46 per diluted share. Adjusted EBITDA was $4.2 million.

  • Revenue increased by $7 million from the third quarter 2021.
  • Orders received in the quarter were $160 million.
  • Net loss for the quarter was $20 million, or $3.46 per diluted share.
  • Adjusted EBITDA declined by $3.0 million sequentially to $4.2 million.

Headline financials

Total Revenue

$148M

Previous: $113M+31.1%
EPS (adj)

-$2.23

Previous: -$4.80+53.5%
Book-to-Bill Ratio

1.08

Previous: 1.1-1.8%
Capital Expenditures

$1.4M

Previous: $78K+1694.9%
Free Cash Flow

-$9.08M

Previous: $4M-326.9%
Net Income

-$19.6M

Previous: -$33M+40.6%
Operating Income

-$13.1M

Previous: -$104M+87.4%
Gross Profit

$30M

Previous: -$59.1M+150.8%
Cash & Equivalents

$46.9M

Previous: $129M-63.5%
Total Assets

$791M

Previous: $890M-11.1%
Stock-Based Comp

$1.9M

Previous: $2.06M-7.5%

Revenue & EPS history

Forum · Revenue · Quarterly

$148M

Q4 2021+31.1%vs Q4 2020
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Revenue by segment

Forum · $209M total across 2 segments · Q1 2026

  • Drilling and Completions
    $127M
  • Artificial Lift and Downhole
    $82.1M

Forward guidance

Company forecasts first quarter EBITDA to be in the range of $5 to $7 million.

Tailwinds

  • Industry activity and demand for our products have continued to increase.

Headwinds

  • Supply chain and cost headwinds continue to compress our profitability.
  • supply chain delays constrained our revenues
  • cost inflation impacted our profitability.
  • increases in costs including raw material
  • freight and employee benefit costs for our self-insured medical plan.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q4 2021

Historical avgQ4 2021

+0.4%

Avg return

Earnings day

+1.5%

Avg return

5 days after

-0.5%

Avg return

30 days after

52%

32 / 61 earnings

Positive

+22.0%

Q1 2020

Best reaction

-22.2%

Q4 2017

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-10.5%+3.4%-8.6%
Q4 2025+9.3%+11.3%+6.1%
Q3 2025-10.4%-9.9%-2.5%
Q1 2025-1.5%-9.2%-2.6%
Q4 2024-3.7%-2.8%+8.1%
Q3 2024-0.4%+7.5%+8.8%
Q2 2024-10.2%-13.2%-6.0%
Q1 2024+0.2%+3.6%-1.3%
Q4 2023-1.2%+6.0%+5.9%
Q3 2023+8.5%+2.7%+3.4%
Q2 2023-7.4%-9.7%-9.3%
Q1 2023+5.2%+6.9%+16.3%
Q4 2022-7.4%-5.8%-27.4%
Q3 2022+3.1%+9.1%+7.7%
Q2 2022+14.0%+21.7%+31.2%
Q1 2022-5.0%-12.5%+11.7%
Q4 2021-1.7%+7.5%+20.0%
Q3 2021-2.5%-6.5%-27.5%
Q2 2021+0.7%+4.4%+1.1%
Q1 2021+13.6%+12.1%+31.9%
Q4 2020+6.0%+13.1%+2.0%
Q3 2020-5.2%-2.8%+48.9%
Q2 2020-15.4%-13.2%-1.9%
Q1 2020+22.0%+23.7%+36.8%
Q4 2019+10.7%-1.0%-58.3%
Q3 2019+4.2%+16.1%-3.4%
Q2 2019-2.1%+7.8%-34.6%
Q1 2019+11.1%+8.3%-21.2%
Q4 2018+11.2%+29.3%-4.2%
Q3 2018+2.2%+2.1%-16.5%
Q2 2018+13.4%+1.7%+4.7%
Q1 2018+6.7%+10.3%+12.3%
Q4 2017-22.2%-24.5%-20.5%
Q3 2017+8.3%+4.8%+4.9%
Q2 2017-13.4%-14.1%-31.0%
Q1 2017-11.7%-18.3%-13.8%
Q4 2016-6.6%-9.8%-17.4%
Q3 2016-6.8%-8.3%+5.3%
Q2 2016+2.4%+6.0%+20.1%
Q1 2016+9.3%
Q4 2015+1.4%
Q3 2015+6.2%
Q2 2015-17.5%
Q1 2015+6.6%
Q4 2014+12.9%
Q3 2014+0.8%
Q2 2014-3.6%
Q1 2014+1.6%
Q4 2013+2.3%
Q3 2013-3.3%
Q2 2013-4.2%
Q1 2013-3.0%
Q4 2010-0.3%
Q4 2012+4.0%
Q3 2011-3.8%
Q3 2012+1.9%
Q2 2011+1.1%
Q2 2012+4.7%
Q1 2011-1.5%
Q4 2011-1.5%
Q1 2012+4.2%
Q3 2010

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