Forum Energy Technologies Files 8-K on Financials

TL;DR

FET filed an 8-K on Feb 29th detailing financial results. Check it for operational updates.

AI Summary

Forum Energy Technologies, Inc. filed an 8-K on February 29, 2024, reporting on its results of operations and financial condition. The filing includes financial statements and exhibits related to its performance. The company is incorporated in Delaware and headquartered in Houston, Texas.

Why It Matters

This filing provides investors with updated financial information and operational results for Forum Energy Technologies, Inc., crucial for assessing the company's current performance and future prospects.

Risk Assessment

Risk Level: low — This is a routine financial filing (8-K) that reports on past performance and does not introduce new, immediate risks.

Key Players & Entities

• FORUM ENERGY TECHNOLOGIES, INC. (company) — Registrant
• February 29, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of incorporation
• Houston, TX (location) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share FET NYSE Indicate by chec

Filing Documents

• fet-20240229.htm (8-K) — 31KB
• fetq42023earningsrelease.htm (EX-99.1) — 504KB
• fet_logoxfullxcolorxtmxpan.jpg (GRAPHIC) — 798KB
• 0001401257-24-000036.txt ( ) — 1765KB
• fet-20240229.xsd (EX-101.SCH) — 2KB
• fet-20240229_lab.xml (EX-101.LAB) — 25KB
• fet-20240229_pre.xml (EX-101.PRE) — 13KB
• fet-20240229_htm.xml (XML) — 3KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On February 29, 2024 , Forum Energy Technologies, Inc. (the " Company ") issued a press release announcing earnings for the quarter ended December 31, 2023. A copy of the 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, adjusted operating income, adjusted net income, adjusted net income per diluted share (" Adjusted Diluted EPS "), book to bill ratio and free cash flow, before acquisitions (" free cash flow "). A reconciliation of EBITDA, adjusted EBITDA, adjusted operating income, adjusted net income, Adjusted Diluted EPS, book to bill ratio and free cash flow to the most directly comparable financial measures 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 EBITDA, adjusted EBITDA, adjusted operating income, adjusted net income, Adjusted Diluted EPS, 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, strength

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 29, 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 29, 2024 FORUM ENERGY TECHNOLOGIES, INC. /s/ John C. Ivascu John C. Ivascu Executive Vice President, General Counsel, Chief Compliance Officer and Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR