Forum Energy Technologies, Inc. announced that its Board of Directors has authorized a program for the repurchase of up to $75 million of its outstanding common stock. This program is subject to maintaining a net leverage ratio below 1.5x, aligning capital returns with financial health metrics.
In the fourth quarter, FET completed the sale of two manufacturing facilities located in Texas, generating approximately $20 million in net proceeds. These properties remain integral to FET’s operations, with long-term lease agreements executed in connection with the transactions, enhancing liquidity without disrupting core business.
Neal Lux, FET’s President and Chief Executive Officer, affirmed the company's commitment to maintaining conservative net leverage through debt reduction and returning cash to shareholders. The share repurchase program reflects confidence in generating consistent free cash flow in 2025 and beyond, indicating a positive outlook for financial performance.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.