Forum Energy Technologies, Inc. (FET) Reports Q2 2025 Results

With strong share price gains and significant hedge fund interest, Forum Energy Technologies, Inc. (NYSE:FET) secures a spot on our list of the 13 Hot Oil Stocks to Buy Now.

On August 7, 2025, Forum Energy Technologies, Inc. (NYSE:FET) reported its results for Q2 2025. The company recorded revenue of $200 million, which was up 3% sequentially, and net income of $8 million ($0.61 per diluted share). Meanwhile, it recorded a $1 million net loss after making adjustments for one-time items.

During the quarter, Forum Energy Technologies, Inc. (NYSE:FET) reported a surge in orders, taking the total to $263 million, resulting in a 132% book-to-bill ratio and the highest backlog in over a decade. This growth was attributed to strong offshore defense and energy infrastructure demand.

Meanwhile, Forum Energy Technologies, Inc. (NYSE:FET)’s financial health was boosted by adjusted EBITDA of $21 million (up 2%) and free cash flow of $23 million. The quarter marks the eighth straight positive quarter. Looking ahead, the company raised its 2025 free cash flow guidance to $60-$80 million, expecting adjusted EBITDA of $85 million. As of the end of Q2, Forum Energy Technologies repurchased 579,000 shares year-to-date for $11 million, while expecting to reduce net leverage to 1.3x by the end of 2025.

Forum Energy Technologies, Inc. (NYSE:FET) serves the crude oil, natural gas, and renewable energy industries. It designs, manufactures, and distributes engineered capital equipment and consumable products. It is included in our list of the hot stocks to buy.

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