Forum Energy Technologies reported third-quarter 2026 revenue of $237 million, up 5% from the prior quarter, and said it raised its full-year 2026 guidance. Orders were slightly higher than revenue, while reported net income and earnings per share declined from a year earlier; adjusted profit measures rose.
- Orders: $244 million, for a book-to-bill ratio of 103%. That means orders exceeded revenue during the quarter.
- Revenue: $237 million, up 5% sequentially.
- Reported earnings: Net income was $11 million, or $0.93 per share, down 9% and 11%, respectively.
- Adjusted earnings: Adjusted net income was $18 million, or $1.51 per diluted share, up 33% and 30%, respectively. These are non-GAAP measures; the company said its release included reconciliations to comparable GAAP measures.
- Full-year outlook: The company raised its 2026 guidance. The announcement details provided here do not include the revised targets.
Orders above revenue indicate that the company booked more business than it recognized as sales in the quarter. The differing directions of reported and adjusted earnings show that the adjusted figures exclude items included in GAAP results.