Forum Energy Technologies Stock Surges Nearly 22% After Strong Earnings Report
On Friday, Forum Energy Technologies (FET) saw its stock rise nearly 22%, driven by strong second-quarter earnings and revenue results. The company reported $226 million in revenue—a more than 8% year-over-year increase—and a significant turnaround from a loss to an adjusted net profit of $13.7 million, or $1.16 per share. These figures exceeded analyst expectations for both revenue ($210 million) and earnings ($0.51 per share). Both segments of Forum's business—drilling and completions, as well as artificial lift and downhole—posted gains in the quarter. The company also raised its full-year 2026 guidance to a projected $870–$910 million revenue range with adjusted net income expected between $42–52 million. The strong performance reflects ongoing demand for energy equipment amid volatile oil prices and high industry activity, positioning Forum well as an upstream supplier rather than a direct producer.
Tickers: $FET