Forum Energy Technologies Reaffirms FY24 Adjusted EBITDA Guidance Of $100M-$120M And Free Cash Flow Between $40M-$60M; Anticipates Q2 Adjusted EBITDA In The Range Of $24M-$28M, With Flat U.S. And International Market Activity, And Lower Canadian Demand Due To The Seasonal Impact Of Break Up
Portfolio Pulse from Benzinga Newsdesk
Forum Energy Technologies reaffirms its FY24 adjusted EBITDA guidance of $100M-$120M and free cash flow of $40M-$60M. The company expects Q2 adjusted EBITDA between $24M-$28M, with stable U.S. and international market activity but lower Canadian demand due to seasonal factors.
May 02, 2024 | 10:49 pm
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NEUTRAL IMPACT
Forum Energy Technologies reaffirms its FY24 financial guidance, expecting steady market activity but lower Canadian demand in Q2.
Reaffirming financial guidance typically stabilizes investor confidence, indicating management's belief in the company's stability and growth prospects. The expected steady market activity in the U.S. and internationally suggests a stable operational environment. However, the anticipated lower demand in Canada due to seasonal factors introduces a note of caution, potentially offsetting some positive sentiment. Overall, the impact is neutral as the positive reaffirmation of guidance balances out the cautionary note on Canadian demand.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100