FORUM ENERGY TECHNOLOGIES INC
For the period ended Sep 30, 2024. Filed Nov 1, 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.
Sep 30, 2024 · Filed Nov 1, 2024
FET$72.08+1.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed consolidated statements of comprehensive income (loss)
Condensed Consolidated Statements of Comprehensive Loss
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| (in thousands, except per share information) | 2024 | 2023 | 2024 | 2023 |
| Revenue | $207,806 | $179,253 | $615,407 | $553,659 |
| Cost of sales | 142,070 | 128,231 | 422,839 | 399,229 |
| Gross profit | 65,736 | 51,022 | 192,568 | 154,430 |
| Operating expenses | ||||
| Selling, general and administrative expenses | 56,326 | 45,496 | 164,683 | 135,364 |
| Transaction expenses | 579 | — | 7,728 | — |
| Loss (gain) on disposal of assets and other | (85) | (145) | 107 | 137 |
| Total operating expenses | 56,820 | 45,351 | 172,518 | 135,501 |
| Operating income | 8,916 | 5,671 | 20,050 | 18,929 |
| Other expense (income) | ||||
| Interest expense | 7,650 | 4,504 | 25,069 | 13,742 |
| Foreign exchange losses (gains) and other, net | 9,631 | (8,279) | 13,864 | 1,129 |
| Loss on extinguishment of debt | 1,839 | — | 2,302 | — |
| Total other expense (income), net | 19,120 | (3,775) | 41,235 | 14,871 |
| Income (loss) before income taxes | (10,204) | 9,446 | (21,185) | 4,058 |
| Income tax expense | 4,611 | 1,477 | 10,641 | 6,154 |
| Net income (loss) | $(14,815) | $7,969 | $(31,826) | $(2,096) |
| Weighted average shares outstanding | ||||
| Basic | 12,330 | 10,235 | 12,287 | 10,208 |
| Diluted | 12,330 | 10,393 | 12,287 | 10,208 |
| Earnings (loss) per share | ||||
| Basic | $(1.20) | $0.78 | $(2.59) | $(0.21) |
| Diluted | $(1.20) | $0.77 | $(2.59) | $(0.21) |
| Other comprehensive income (loss), net of tax of $0: | ||||
| Net income (loss) | $(14,815) | $7,969 | $(31,826) | $(2,096) |
| Change in foreign currency translation | 14,254 | (10,710) | 14,071 | 1,197 |
| Gain (loss) on pension liability | 25 | (36) | 5 | (15) |
| Comprehensive loss | $(536) | $(2,777) | $(17,750) | $(914) |
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