Forum Energy Technologies Q1 2024 Adj EPS $(0.12) Beats $(0.20) Estimate, Sales $202.400M Miss $212.050M Estimate
Portfolio Pulse from Benzinga Newsdesk
Forum Energy Technologies (NYSE:FET) reported Q1 2024 adjusted EPS of $(0.12), surpassing the $(0.20) estimate, but missed sales estimates with $202.4M against the expected $212.05M. This represents a 233.33% decrease in EPS from the previous year's $0.09, and a 7.09% increase in sales from $189M.
May 02, 2024 | 10:42 pm
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FET reported a Q1 2024 adjusted EPS of $(0.12), beating estimates but missed on sales with $202.4M versus the expected $212.05M.
While FET surpassed EPS estimates, indicating operational efficiency or cost control, the miss on sales forecasts could raise concerns about demand or market share. The mixed results present a neutral outlook, as the positive EPS surprise may offset concerns from the sales miss in the short term.
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