Forum Energy Technologies, Inc. Provides Earnings Guidance for the Second Quarter of Fiscal 2021
May 06, 2021 at 08:22 pm
Share
Forum Energy Technologies, Inc. provided earnings guidance for the second quarter of fiscal 2021. Given the increase in U.S. rig count that has already occurred in the second quarter and activity increases in international and non-oil and gas markets, company guide for second quarter revenue is between $125 and $135 million. Based on the order flow company is receiving, it expect further revenue improvement in the second half 2021.
Forum Energy Technologies, Inc. is a global manufacturing company serving the oil, natural gas, industrial and renewable energy industries. The Companyâs segments include Drilling and Completions and Artificial Lift and Downhole. The Drilling and Completions segment designs, manufactures and supplies products and solutions to the drilling, subsea, coiled tubing, well stimulation and intervention markets, including applications in the oil and natural gas, renewable energy, defense and communications industries. The Artificial Lift and Downhole segment designs, manufactures and supplies products and solutions for the artificial lift, well construction, production and infrastructure markets. The products and solutions consist of products designed to safeguard artificial lift equipment and downhole cables, well construction casing and cementing equipment and others. It also manufactures downhole technology solutions, providing sand and flow control products for heavy oil applications.