Forum Energy Technologies Q3 Adj $(0.19) Misses $0.06 Estimate, Sales $207.80M Miss $214.50M Estimate
Portfolio Pulse from Benzinga Newsdesk
Forum Energy Technologies reported a significant earnings miss for Q3, with a loss of $0.19 per share against an expected gain of $0.06. Sales also fell short of expectations, coming in at $207.80 million versus the $214.50 million estimate.
October 31, 2024 | 8:30 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Forum Energy Technologies reported a Q3 loss of $0.19 per share, missing the $0.06 estimate, and sales of $207.80M, below the $214.50M estimate. This significant earnings miss is likely to negatively impact the stock price in the short term.
The significant miss on both earnings per share and sales compared to analyst estimates suggests a negative market reaction. The earnings per share were expected to be positive but turned out to be a loss, which is a substantial deviation. This, combined with sales falling short of expectations, indicates potential downward pressure on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100