Forum Energy Technologies Announces Fourth Quarter 2020 Results

HOUSTON–(BUSINESS WIRE)–Forum Energy Technologies, Inc. (NYSE: FET) today announced fourth quarter 2020 revenue of $113 million, an increase of $9 million from the third quarter 2020. Orders received in the quarter increased by $32 million to $124 million. Net loss for the quarter was $33 million, or $5.85 per diluted share, compared to a net loss of $22 million, or $3.86 per diluted share, for the third quarter 2020. Excluding $6 million, or $1.05 per share of special items, adjusted net loss was $4.80 per diluted share in the fourth quarter 2020, compared to an adjusted net loss of $6.00 per diluted share in the third quarter 2020. Adjusted EBITDA improved by $7 million sequentially to negative $2.6 million.

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