Stonegate Capital Partners Updates Coverage on Forum Energy Technologies, Inc. (FET) Q3 24

Core Insights - Forum Energy Technologies, Inc. (FET) reported Q3 2024 financial results with revenue of $207.8 million, adjusted EBITDA of $25.8 million, and adjusted net income of ($2.3) million, which were in line with expectations [3][4] - The company completed debt refinancing during the quarter, which may enhance financial stability [4] - The artificial lift and equipment segment saw a 9.0% increase in orders, indicating strong demand in this area [4] - The drilling and completions segment experienced a quarter-over-quarter revenue increase of 5.6%, reaching $123.6 million, reflecting growth in operational activities [4]