Reported Monday, Forum Energy Technologies Q4 Preliminary Results: Revenue $185M, A $6M Increase Qoq; Expects Adjusted EBITDA Of $15M-$17M
Portfolio Pulse from Benzinga Newsdesk
Forum Energy Technologies (FET) reported preliminary Q4 results with revenue of $185M, a $6M increase QoQ, and expects adjusted EBITDA of $15M-$17M. The company delays its Q4 and full year 2023 earnings release and investor call to assess potential impacts on income tax and net income due to adjustments in valuation allowance reserves in an international jurisdiction. No significant impact on revenue, adjusted EBITDA, or free cash flow is anticipated. FET plans to issue its full results and host its investor call around March 1, 2024.
February 20, 2024 | 7:40 am
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NEUTRAL IMPACT
Forum Energy Technologies reported a positive Q4 revenue increase and expects adjusted EBITDA of $15M-$17M. However, the delay in the earnings release and investor call to assess potential tax impacts may create uncertainty among investors.
The positive preliminary Q4 results indicate a strong performance, which is typically good for the stock price. However, the delay in the earnings release due to tax assessment issues introduces uncertainty, which can have a neutral to slightly negative impact on investor sentiment in the short term. The company's assurance of no significant financial impact helps mitigate negative perceptions.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100