Forum Energy Technologies Reports Strong Q1 Results and Raises Earnings Outlook
Forum Energy Technologies (FET) reported strong Q1 results with an 8% YoY revenue increase to $209M, a 14% rise in adjusted EBITDA to $23M, and net income up by 300%. The company raised its full-year EBITDA guidance midpoint by ~20%, signaling confidence. Management also highlighted new product wins, cost savings of $15M annually, and plans for buybacks or M&A.
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