Forum Energy Technologies, Inc. (FET) Financial Statements (2024 and earlier)

Company Profile

Business Address 10344 SAM HOUSTON PARK DRIVE
HOUSTON, TX 77064
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 3533 - Oil and Gas Field Machinery and Equipment (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments51,02946,858128,61757,91147,241115,216
Cash and cash equivalents51,02946,858128,61757,91147,241115,216
Receivables154,247123,90380,606154,182206,055204,786
Inventory, net of allowances, customer advances and progress billings269,828241,740251,747414,640479,023443,177
Inventory269,828241,740251,747414,640479,023443,177
Contract with customer, asset, after allowance for credit loss15,80410,53010,2035,36410,021
Costs in excess of billings9,584
Other current assets      17,618
Other undisclosed current assets21,95723,70219,01833,82023,677 
Total current assets:512,865446,733490,191665,917766,017790,381
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization 2,5001,727 2,085
Operating lease, right-of-use asset57,27025,43131,52048,682
Property, plant and equipment   309,648154,836177,358197,281
Long-term investments and receivables     44,982 
Long-term investments     44,982 
Intangible assets, net (including goodwill)191,481217,405240,444(734,300)828,6951,198,309
Goodwill    (1,006,600)469,647755,245
Intangible assets, net (excluding goodwill)191,481217,405240,444272,300359,048443,064
Contract with customer, asset, after allowance for credit loss2,638    
Regulated entity, other noncurrent assets3,7594,918 3,2323,1214,222
Deferred income tax assets184203102654
Other noncurrent assets8,8286,07513,75216,3659,2953,013
Other undisclosed noncurrent assets55,23288,844(195,731)1,002,5261842,022
Total noncurrent assets:321,892344,603399,735494,0801,063,6351,404,847
TOTAL ASSETS:834,757791,336889,9261,159,9971,829,6522,195,228
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities194,805157,815113,932185,345224,218204,449
Accounts payable118,26199,37946,35198,720143,186137,684
Accrued liabilities76,54458,43667,58186,62581,03266,765
Debt1,5641,7201,3227171,1671,156
Deferred revenue and credits8,819
Billings in excess of cost1,881
Other undisclosed current liabilities13,92416,1219,68010,78811,545 
Total current liabilities:210,293175,656124,934196,850236,930216,305
Noncurrent Liabilities
Long-term debt and lease obligation, including:239,128267,115293,373398,862517,544506,750
Long-term debt, excluding current maturities239,128232,370    
Finance lease, liability   9501,324
Other undisclosed long-term debt and lease obligation   247,887347,600517,544506,750
Liabilities, other than long-term debt78,30119,43920,84728,30829,75331,925
Deferred income tax liabilities9028341,9522,465
Other liabilities12,77318,60518,89525,84329,75331,925
Operating lease, liability64,62634,74544,53649,938
Other undisclosed noncurrent liabilities   44,53649,93815,29931,232
Total noncurrent liabilities:317,429286,554358,756477,108562,596569,907
Total liabilities:527,722462,210483,690673,958799,526786,212
Equity
Equity, attributable to parent307,035329,126406,236486,0391,030,1261,409,016
Common stock6261601,1891,1741,163
Treasury stock, value(138,560)(135,562)(134,499)(134,493)(134,434)(134,293)
Additional paid in capital1,253,6131,249,9621,242,7201,231,6501,214,9281,195,339
Accumulated other comprehensive loss(127,485)(101,028)(100,389)(108,938)(115,230)(91,967)
Retained earnings (accumulated deficit)(680,595)(684,307)(601,656)(503,369)63,688438,774
Total equity:307,035329,126406,236486,0391,030,1261,409,016
TOTAL LIABILITIES AND EQUITY:834,757791,336889,9261,159,9971,829,6522,195,228

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues699,913541,068512,476956,5331,064,219818,620
Revenue, net818,620
Cost of revenue
(Cost of Goods and Services Sold)
(511,387)(417,727)(523,497)(711,681)(807,847)(629,832)
Gross profit:188,526123,341(11,021)244,852256,372188,788
Operating expenses(171,200)(167,834)(220,602)(780,680)(653,510)(331,383)
Other undisclosed operating income (loss)    (318)1401,000
Operating income (loss):17,326(44,493)(231,623)(536,146)(396,998)(141,595)
Nonoperating income (expense)(6,977)(37,516)121,853(32,725)7,24486,316
Investment income, nonoperating    1,567 120,392
Gain (loss), foreign currency transaction, before tax24,548(217)(6,470)(5,022)6,270(7,268)
Interest and debt expense (77)(110)(1,955)(1,981)(1,900)(26,808)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes  1,9551,9811,90026,808
Income (loss) from continuing operations before equity method investments, income taxes:10,272(82,119)(109,770)(568,871)(389,754)(55,279)
Other undisclosed income from continuing operations before income taxes77110    
Income (loss) from continuing operations before income taxes:10,349(82,009)(109,770)(568,871)(389,754)(55,279)
Income tax expense (benefit)(6,637)(642)12,8811,81415,674(4,121)
Income (loss) from continuing operations:3,712(82,651)(96,889)(567,057)(374,080)(59,400)
Loss before gain (loss) on sale of properties:(82,651)(96,889)(567,057)(374,080)(59,400)
Net income (loss) available to common stockholders, basic:3,712(82,651)(96,889)(567,057)(374,080)(59,400)
Other undisclosed net loss available to common stockholders, diluted      
Net income (loss) available to common stockholders, diluted:3,712(82,651)(96,889)(567,057)(374,080)(59,400)

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):3,712(82,651)(96,889)(567,057)(374,080)(59,400)
Other comprehensive income (loss)2,256840(700)(1,666)1,489107
Other undisclosed comprehensive income (loss)(28,713)  7,958(24,752)36,163
Comprehensive income (loss):(22,745)(81,811)(97,589)(560,765)(397,343)(23,130)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent  (1,479)9,249   
Comprehensive income (loss), net of tax, attributable to parent:(22,745)(83,290)(88,340)(560,765)(397,343)(23,130)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

Login to ReadyRatios

 

Have you forgotten your password?

Are you a new user?

Login As
You can log in if you are registered at one of these services: