Forum Energy Technologies, Inc. reported first quarter 2025 revenue of $193 million, with a net income of $1 million, or $0.09 per diluted share. The adjusted net income for the quarter was $500 thousand, or approximately $0.04 per diluted share, reflecting operational performance in a dynamic market.
The company generated $7 million in free cash flow during the quarter, marking its seventh consecutive quarter of positive free cash flow. Despite a decrease in the Artificial Lift and Downhole segment's revenue by 13% sequentially, the Drilling and Completions segment saw a 4% sequential revenue increase and a 31% increase in adjusted EBITDA.
FET initiated actions to eliminate $10 million of annualized costs to adapt to potentially lower demand levels, influenced by U.S. tariff and trade policy changes impacting the Valve Solutions product line. Despite these uncertainties, the company maintained its full-year 2025 free cash flow guidance of $40 million to $60 million, demonstrating confidence in its cash generation capabilities.
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