Forum Energy Technologies Q3 Adj EPS $0.05 Up From $(0.25) YoY, Sales $179.30M Down From $181.80M YoY
Portfolio Pulse from Benzinga Newsdesk
Forum Energy Technologies (NYSE:FET) reported Q3 adjusted earnings of $0.05 per share, a 120% increase YoY. However, sales decreased by 1.38% to $179.30 million compared to $181.80 million in the same period last year.
November 03, 2023 | 6:16 am
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Forum Energy Technologies reported a significant increase in Q3 earnings but a slight decrease in sales YoY.
The significant increase in earnings suggests improved profitability, which is positive for the stock. However, the slight decrease in sales could indicate a slowdown in business, which may negatively impact the stock. The net effect could be neutral.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100