Forum Energy Technologies Raising FY24 Free Cash Flow Guidance $50M-$70M; Adjusted EBITDA Guidance $100M-110M
Portfolio Pulse from Benzinga Newsdesk
Forum Energy Technologies (FET) has raised its FY24 free cash flow guidance to $50M-$70M and adjusted EBITDA guidance to $100M-$110M. Despite a decline in U.S. rig count, the company expects its international footprint and recent acquisition to mitigate the impact.
August 01, 2024 | 9:59 pm
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Forum Energy Technologies has raised its FY24 free cash flow guidance to $50M-$70M and adjusted EBITDA guidance to $100M-$110M. Despite a decline in U.S. rig count, the company expects its international footprint and recent acquisition to mitigate the impact.
The raised guidance for free cash flow and adjusted EBITDA indicates strong financial performance and management's confidence in mitigating U.S. market softness through international operations and acquisitions. This is likely to positively impact FET's stock price in the short term.
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