FET News & Events

Reports Q4 revenue $202M, two estimates $190.5M. Neal Lux, President and Chief Executive Officer, remarked, "2025 was another great step forward and further positioned FET to deliver the 2030 vision. Our commercial efforts and innovation focus supplied meaningful bookings and backlog growth. Entering 2026, our backlog of $312 million is the highest in 11 years and 46% greater than a year ago. Nearly 12% of our backlog is from products developed in the last few years. These results are driven by the execution of our "Beat the Market" strategy. We are gaining market share and leveraging our global footprint."

Sees FY26 adjusted EBITDA $90M-$110M.

Nauticus Robotics (KITT) announced the signing of a Manufacturing and Sales Agreement with Forum Energy Technologies (FET). Under the agreement, FET will lead the commercialization, manufacturing, and distribution of Nauticus' Olympic Arm electric manipulator system, while Nauticus continues to advance the robotics, autonomy, and intelligent control technologies that underpin next-generation subsea manipulation.

Reports Q3 revenue $196.2M, two estimates $194.4M. Neal Lux, CEO, remarked, "Our team achieved another strong quarter, demonstrating why FET is a great company and even better investment. We extended our track record of outperformance, delivered significant capital returns, and believe we remain an incredible value while poised for long-term growth. Our 'Beat the Market' strategy drove strong bookings and meaningful backlog growth. Revenue and EBITDA were at the high end of our guidance range. Our commercial and product development efforts allowed us to grow market share in a challenging environment. In addition, we exceeded free cash flow expectations and are raising 2025 guidance to between $70 and $80 million. By utilizing our global footprint, we generated strong bookings in the offshore and international markets, increasing backlog 21%. In addition, we accelerated cost savings efforts in the quarter, extending our annualized target by 50% to $15 million. We forecast fourth quarter adjusted EBITDA in the range of $19 to $23 million. Looking further ahead, we expect that our strong backlog, anticipated market share gains, and cost reductions will provide a tailwind in 2026."