Forum Energy Technologies: Steady Order Book Builds The Pillar

Badsha Chowdhury
1.27K Followers

Summary

  • In Q3, FET's Drilling & Downhole book-to-bill ratio reached 1.3x, which indicates strong revenue visibility and outlook.
  • In the medium to long term, the company is re-strategizing on the international offshore wind farm installation and deepsea product offerings.
  • Its recent share repurchase program reflects management's confidence in the share price consolidation.
  • Negative free cash flow and supply chain constraints raise some doubts over the share price run-up.

Petroleum engineer using laptop in oil field.

anatoliy_gleb/iStock via Getty Images

FET's Order Book Turns Healthy

Demand for Forum Energy Technologies' (NYSE:FET) drilling and completion equipment has been increasing for the past couple of quarters, as reflected in the rising book-to-bill ratio. Not only does the short-cycle product

This article was written by

1.27K Followers
I have more than 14 years of experience in analyzing and writing on stocks. I write on both long and short sides in an unbiased manner. I have been covering the energy sectors for the past 7 years, with the primary focus on the oilfield equipment services sector. I also cover the Industrial Supply industry. I occasionally co-author with Seeking Alpha contributor Thomas Prescott.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

About FET Stock

SymbolLast Price% Chg
Market Cap
PE
Yield
Rev Growth (YoY)
Short Interest
Prev. Close
Compare to Peers

More on FET

Related Stocks

SymbolLast Price% Chg
FET
--