Forum Energy Tech Raises 2026 Outlook Following Strong International Growth and Product Innovation
During its third-quarter 2026 earnings call, Forum Energy Tech (FET) raised its full-year financial outlook for revenue, adjusted earnings, and cash flow. The company is successfully executing an international expansion strategy, with year-to-date international revenue increasing by 31% compared to the previous year. This growth reduces reliance on domestic U.S. drilling activity. Management highlighted significant product innovation, including a new tube design for perforating gun housings that expands their addressable market by approximately $200 million. Additionally, the company completed the $33 million acquisition of Premier TorqueRings using a mix of cash and equity to maintain balance sheet flexibility. Looking toward 2030, FET aims to double revenue and quadruple EBITDA relative to 2025 levels.
Tickers: $FET
Topics: acquisition earnings call guidance upgrade international expansion revenue growth
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