Forum Energy Technologies Files 8-K on Financial Condition
Ticker: FET · Form: 8-K · Filed: Feb 20, 2024 · CIK: 1401257
Sentiment: neutral
Topics: financial-condition, 8-K, corporate-filing
TL;DR
**Forum Energy Technologies just dropped an 8-K about their financials, so keep an eye out for what's inside!**
AI Summary
FORUM ENERGY TECHNOLOGIES, INC. filed an 8-K on February 20, 2024, reporting an event that occurred on February 19, 2024. The filing pertains to 'Results of Operations and Financial Condition' and 'Financial Statements and Exhibits'. The company, incorporated in Delaware with IRS number 61-1488595, is headquartered in Houston, TX.
Why It Matters
This filing indicates that Forum Energy Technologies is providing an update on its financial performance, which could impact investor perception and stock valuation.
Risk Assessment
Risk Level: medium — The filing mentions 'Results of Operations and Financial Condition' which could contain positive or negative news impacting the company's stock.
Key Players & Entities
- FORUM ENERGY TECHNOLOGIES, INC. (company) — registrant
- Delaware (company) — state of incorporation
- February 19, 2024 (date) — date of earliest event reported
- February 20, 2024 (date) — filing date
- Houston, TX (company) — principal executive offices
FAQ
What is the exact name of the registrant as specified in its charter?
The exact name of the registrant as specified in its charter is FORUM ENERGY TECHNOLOGIES, INC.
What was the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported was February 19, 2024.
In which state is FORUM ENERGY TECHNOLOGIES, INC. incorporated?
FORUM ENERGY TECHNOLOGIES, INC. is incorporated in Delaware.
What are the specific items of information included in this 8-K filing?
The specific items of information included are 'Results of Operations and Financial Condition' and 'Financial Statements and Exhibits'.
What is the Commission File Number for FORUM ENERGY TECHNOLOGIES, INC.?
The Commission File Number for FORUM ENERGY TECHNOLOGIES, INC. is 001-35504.
Filing Stats: 789 words · 3 min read · ~3 pages · Grade level 12.7 · Accepted 2024-02-20 11:28:58
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share FET NYSE Indicate by chec
Filing Documents
- fet-20240219.htm (8-K) — 30KB
- fetq42023pre-earningsrelea.htm (EX-99.1) — 23KB
- fet_logoxfullxcolorxtmxpana.jpg (GRAPHIC) — 798KB
- 0001401257-24-000013.txt ( ) — 1259KB
- fet-20240219.xsd (EX-101.SCH) — 2KB
- fet-20240219_lab.xml (EX-101.LAB) — 25KB
- fet-20240219_pre.xml (EX-101.PRE) — 13KB
- fet-20240219_htm.xml (XML) — 3KB
02 Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition. On February 19, 2024, Forum Energy Technologies, Inc. (the "Company") issued a press release with respect to preliminary results of operations for the fourth quarter and full year 2023 and the timing of the fourth quarter 2023 earnings release and conference call. A copy of the press release is furnished herewith as Exhibit 99.1 and incorporated herein by reference. Exhibit 99.1 to this report contains "non-GAAP financial measures" as defined in Item 10 of Regulation S-K of the Securities Exchange Act of 1934, as amended (the " Exchange Act "). The non-GAAP financial measures reflect earnings before interest, taxes, depreciation and amortization expense (" EBITDA "), adjusted EBITDA, book to bill ratio and free cash flow, before acquisitions (" free cash flow "). A reconciliation of free cash flow to the most directly comparable financial measure calculated and presented in accordance with Generally Accepted Accounting Principles in the United States (" GAAP ") is included as an attachment to the press release. The Company believes the presentation of adjusted EBITDA, book to bill ratio and free cash flow are useful to the Company's investors because (i) each of these financial metrics are useful to investors to assess and understand operating performance, especially when comparing those results with previous and subsequent periods or forecasting performance for future periods, primarily because management views the excluded items to be outside of the Company's normal operating results and (ii) EBITDA is an appropriate measure of evaluating the Company's operating performance and liquidity that reflects the resources available for strategic opportunities including, among others, investing in the business, strengthening the balance sheet, repurchasing the Company's securities and making strategic acquisitions. In addition, these benchmarks are widely used in the investment community. The presentation of this
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Exhibit Title or Description 99.1 Press Release dated February 19, 2024. 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: February 20, 2024 FORUM ENERGY TECHNOLOGIES, INC. /s/ John C. Ivascu John C. Ivascu Executive Vice President, General Counsel, Chief Compliance Officer and Corporate Secretary