FET - Forum Energy Non-GAAP EPS of -$0.45 revenue of $191M; issues FY23 EBITDA guidance

• Forum Energy press release ( NYSE: FET ): Q4 Non-GAAP EPS of -$0.45.
• Revenue of $191M (+29.0% Y/Y).
• Orders received were $215M, with a book-to-bill ratio of 113%.
• "Looking ahead, on-going global supply and demand imbalances for commodities are creating long-term opportunities for energy investment that will benefit FET. Given the industry’s focus on profitability and shareholder returns, we anticipate modest U.S. rig count growth during 2023. However, equipment utilization and service intensity are expected to remain at extremely high levels. In addition, offshore and international market activity growth, particularly in the Middle East and Latin America, should accelerate in 2023 and serve as the engine that sustains a multi-year investment cycle. With these assumptions, our EBITDA guidance range for 2023 is $80 to $100 million."

For further details see: