Forum Energy Technologies Q2 2024 Adj. EPS $(0.07) Misses $0.04 Estimate, Sales $205.200M Miss $209.100M Estimate
Portfolio Pulse from Benzinga Newsdesk
Forum Energy Technologies (NYSE:FET) reported Q2 2024 adjusted EPS of $(0.07), missing the $0.04 estimate by 275%. Sales were $205.2M, missing the $209.1M estimate by 1.87%, but up 10.68% from last year.
August 01, 2024 | 9:57 pm
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NEGATIVE IMPACT
Forum Energy Technologies reported a significant miss on both EPS and sales estimates for Q2 2024. The EPS miss was by 275%, and sales missed by 1.87%. Despite the misses, sales were up 10.68% year-over-year.
The significant miss on EPS and sales estimates is likely to negatively impact the stock price in the short term. However, the year-over-year sales increase may provide some support.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100