FORUM ENERGY TECHNOLOGIES INC
For the period ended Mar 31, 2024. Filed May 3, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 3, 2024
FET$72.08+1.1%Stored close · as of Nov 10, 2026
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Condensed consolidated balance sheets
| (in thousands, except share information) | March 31, 2024 | December 31, 2023 |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $48,488 | $46,165 |
| Accounts receivable—trade, net of allowances of $9,983 and $10,850 | 161,978 | 146,747 |
| Inventories, net | 303,003 | 299,639 |
| Prepaid expenses and other current assets | 20,893 | 21,887 |
| Costs and estimated profits in excess of billings | 10,488 | 13,365 |
| Accrued revenue | 1,935 | 1,801 |
| Total current assets | 546,785 | 529,604 |
| Property and equipment, net of accumulated depreciation | 87,660 | 61,401 |
| Operating lease assets | 54,818 | 55,399 |
| Deferred financing costs, net | 2,585 | 1,159 |
| Intangible assets, net | 261,405 | 167,970 |
| Goodwill | 63,202 | — |
| Deferred income taxes, net | 130 | 368 |
| Other long-term assets | 4,804 | 5,160 |
| Total assets | $1,021,389 | $821,061 |
| Liabilities and equity | ||
| Current liabilities | ||
| Current portion of long-term debt | $5,150 | $1,186 |
| Accounts payable—trade | 108,254 | 125,918 |
| Accrued liabilities | 64,937 | 62,463 |
| Deferred revenue | 10,276 | 10,551 |
| Billings in excess of costs and profits recognized | 4,480 | 4,221 |
| Total current liabilities | 193,097 | 204,339 |
| Long-term debt, net of current portion | 282,302 | 129,567 |
| Deferred income taxes, net | 28,183 | 940 |
| Operating lease liabilities | 59,898 | 61,450 |
| Other long-term liabilities | 11,707 | 12,132 |
| Total liabilities | 575,187 | 408,428 |
| Commitments and contingencies | ||
| Equity | ||
| Common stock, $0.01 par value, 14,800,000 shares authorized, 12,992,570 and 10,901,878 shares issued | 130 | 109 |
| Additional paid-in capital | 1,413,970 | 1,369,288 |
| Treasury stock at cost, 708,900 and 708,900 shares | (142,057) | (142,057) |
| Retained deficit | (709,786) | (699,471) |
| Accumulated other comprehensive loss | (116,055) | (115,236) |
| Total equity | 446,202 | 412,633 |
| Total liabilities and equity | $1,021,389 | $821,061 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.