Fri, May 2, 7:29 PM (16 days ago)
**Forum Energy Technologies, Inc. (FET) Q1 2025 Financial Summary** **Financial Health and Performance:** - **Revenue:** $193.3 million, a 4.5% decrease from Q1 2024 ($202.4 million). - **Gross Profit:** $58.4 million, down from $63.8 million in Q1 2024. - **Operating Income:** $8.8 million, a significant improvement from $3.2 million in Q1 2024. - **Net Income:** $1.1 million, a remarkable turnaround from a loss of $10.3 million in Q1 2024. - **Earnings per Share (EPS):** $0.09, compared to a loss of $0.85 in Q1 2024. **Profit Margins:** - **Gross Margin:** 30.2% (down from 31.5% in Q1 2024). - **Operating Margin:** 4.6% (up from 1.6% in Q1 2024). - **Net Margin:** 0.6% (up from -5.1% in Q1 2024). **Cash Flow:** - **Operating Cash Flow:** $9.3 million, an improvement from $5.0 million in Q1 2024. - **Investing Cash Flow:** -$2.1 million, significantly improved from -$152.8 million in Q1 2024. - **Financing Cash Flow:** -$21.0 million, a decrease from $151.8 million in Q1 2024. **Segment Performance:** - **Drilling and Completions:** Revenue down 2.9%, operating income up 105.7%. - **Artificial Lift and Downhole:** Revenue down 6.7%, operating income down 38.1%. **Trends and Uncertainties:** - **Market Conditions:** Decline in global drilling and completions activity, lower oil prices, and increased natural gas prices. - **Future Operations:** Focus on serving both oil, gas, and renewable energy markets. Monitoring macroeconomic uncertainty, trade policy, oil price volatility, and regulatory changes. **Liquidity and Capital Resources:** - **Cash and Cash Equivalents:** $31.1 million. - **Credit Facility Availability:** $77.4 million. - **Capital Expenditures:** Expected to be $10.0 million for 2025. - **Share Repurchase Program:** $73.0 million remaining authorization under the December 2024 Program. **Future Outlook:** - **Revenue and Earnings:** Expected to fluctuate with global drilling rig count and energy prices. - **Liquidity:** Adequate to fund current operations and potential share repurchases or debt reduction. - **Market Risks:** Continued monitoring of macroeconomic factors, trade policies, and regulatory changes.