Forum Energy Technologies, Inc. (FET)

FET's stock has shown significant upward momentum in the past six months and over the last year. Recent earnings reports have shown mixed results, with Q2 2025 missing EPS estimates but Q2 2025 revenue at the top of its guidance. Analyst ratings have been issued, with Zacks Research cutting Forum Energy Technologies from a "hold" to a "strong sell" in August 2025, and Weiss Ratings reiterating a "sell (d-)" rating in October 2025. A significant event impacting the company was the acquisition of Variperm Energy Services, which was announced in November 2023 and expected to close in January 2024. In December 2024, the company also announced a $75 million share repurchase program.

Forum Energy Technologies experiences demand seasonality for its products and services, particularly in international markets and Canada. Seasonal softness in international markets has led some customers to reduce their capital expenditure budgets at the beginning of the year. The company's activity-based sales are highly correlated to rig count, and a decline in oil and gas prices could lead to a decrease in revenue. Despite these seasonal and market-driven fluctuations, FET expects its artificial lift and pumping products and digital services to drive demand in 2024.

Forum Energy Technologies, Inc. (FET) is a global manufacturing company providing products and services to the oil and natural gas, industrial, and renewable energy industries, primarily within the energy sector, focusing on oil and gas equipment and services. FET's business is segmented into Drilling and Completions, and Artificial Lift and Downhole. The Drilling and Completions segment designs, manufactures, and supplies products and solutions for drilling, subsea, coiled tubing, well stimulation, and intervention markets. The Artificial Lift and Downhole segment focuses on products and solutions for artificial lift, well construction, production, and infrastructure markets.

Forum Energy Technologies operates globally, serving customers worldwide, with a geographic footprint spanning the Americas, Europe, the Middle East, and Asia Pacific. The company has a presence in locations such as the UK, Norway, Singapore, Brazil, and the United States, with its headquarters in Houston, Texas. It also has manufacturing facilities in North America and international markets, including Houston, Texas; Aberdeen, Scotland; and Singapore.

Forum Energy Technologies' brand reputation in the past year appears to be largely tied to its strategic business initiatives and financial performance. The company has been recognized for its "Beat the Market" strategy, which focuses on niche markets and innovative solutions, leading to market share growth. The acquisition of Variperm Energy Services was a transformative event. However, the company has also faced challenges, including a net loss in 2024 primarily due to a non-cash intangible asset impairment, and analyst downgrades to "sell" ratings.

Institutional investors hold a significant stake in Forum Energy Technologies, Inc., owning approximately 60% to 63.77% of the company's shares. Major institutional shareholders include BlackRock, Inc., Mackay Shields LLC, Vanguard Group Inc, Dimensional Fund Advisors Lp, and Employees Retirement System of Texas. L. E. Simmons is identified as the largest individual shareholder.