Forum Energy Tech raises outlook, expands international sales
1 report, 1 independent
Updated Sat 00:00
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What happened
Forum Energy Tech raised its full-year 2026 financial outlook for revenue, adjusted earnings, and cash flow during its earnings call on October 30, 2026. The company is shifting strategy to lessen reliance on domestic drilling activity by exporting North American shale technologies to foreign markets. The company also completed the purchase of Premier TorqueRi.
From fool.com
Why it matters
The company is leveraging proprietary technology to capture higher revenue per drilling rig globally while keeping capital expenditure low. International revenue year-to-date is up 31% compared to last year. Furthermore, a new tube design is expected to expand the addressable market by approximately $200 million.
From fool.com