Forum Energy Technologies Reports $199.8 Million Revenue in Q2 2025, Net Income Turnaround

Forum Energy Technologies, Inc. reported a revenue of $199.8 million for the second quarter of 2025, reflecting a decrease of 2.7% from $205.2 million in the same period of 2024. For the first half of 2025, total revenue was $393.0 million, down 3.6% from $407.6 million year-over-year. The decline in revenue was primarily attributed to reduced global drilling and completions activity, alongside tariff impacts affecting the Valve Solutions product line. The company’s net income for the second quarter was $7.7 million, a significant turnaround from a net loss of $6.7 million in the prior year, while net income for the first half of 2025 reached $8.8 million compared to a loss of $17.0 million in 2024.

In terms of operational performance, the Drilling and Completions segment generated $117.2 million in revenue for the second quarter, a slight increase of 0.2% from the previous year, driven by higher project revenues from remotely operated vehicles (ROVs) and increased sales of coiled line pipe. Conversely, the Artificial Lift and Downhole segment saw a revenue decline of 6.4%, totaling $82.5 million, primarily due to tariff-related impacts on valve product sales. The overall segment operating income for the second quarter was $8.2 million, down from $9.4 million in 2024, with a corresponding decrease in operating margin percentage from 4.6% to 4.1%.

The company also reported significant changes in its financial structure, including a reduction in interest expenses, which fell by 45.7% to $4.7 million in the second quarter, attributed to decreased borrowings. Additionally, Forum Energy Technologies executed a sale-leaseback transaction in June 2025, generating $8.8 million in proceeds, which contributed positively to cash flows. The company’s total assets as of June 30, 2025, were $810.1 million, a slight decrease from $815.9 million at the end of 2024, while total liabilities decreased to $475.9 million from $496.1 million.

Looking ahead, Forum Energy Technologies anticipates that the long-term demand for energy will continue to rise, with hydrocarbons playing a vital role alongside the development of renewable energy sources. The company remains focused on enhancing its product offerings to help clients reduce costs and emissions. However, it acknowledges the potential impact of macroeconomic uncertainties, including oil price volatility and trade policy changes, on its operations. The company expects to maintain adequate liquidity through cash on hand and cash flows from operations, with plans for capital expenditures of approximately $10 million in 2025, primarily for machinery replacement.