The beat extends the streak. Forum Energy Technologies posted Q4 2025 EPS of $0.27, crushing the consensus estimate of $0.19 by 42.1%. This marks the second consecutive quarter the oilfield services company has delivered a 42% earnings surprise, following an identical outperformance in Q3. Revenue came in at $790.3M for the quarter, though the company hasn’t provided comparable estimates for context.
Market shrugs off the performance. Despite the substantial earnings beat, shares slipped 1.6% in after-hours trading to $50.99, pulling back from the $53.10 close. The stock has been on a tear regardless—up 78% over the past three months from $29.81 in mid-November to current levels, suggesting investors may have already priced in the strong results. The company now trades at a forward P/E of 32.3x based on consensus FY2026 EPS estimates of $1.65.
Sequential revenue pressure emerges. The $790.3M quarterly revenue figure represents a 5.6% decline year-over-year according to fundamental data, marking a continued headwind for the Houston-based equipment manufacturer. Quarterly revenue has remained relatively flat throughout 2025, oscillating between $193M and $200M per quarter through Q3 before this Q4 print. The company continues to operate with negative trailing twelve-month earnings of -$9.38 per share, though the recent quarterly profitability suggests a potential inflection point.
Balance sheet gets extended runway. Forum announced on February 4th that it has amended its senior secured asset-based lending credit facility, extending the maturity to February 2031. Wells Fargo and JPMorgan Chase Bank serve as administrative agents on the facility. This extension provides critical breathing room as the company navigates the uncertain energy services landscape, particularly given its $297.3M in stockholders’ equity as of Q3 2025—down from $443.5M a year earlier.
Profitability remains elusive at scale. While the Q4 earnings beat signals operational improvement, Forum’s fundamental metrics reveal ongoing challenges. The company posted a trailing operating margin of -5.2% and profit margin of -14.6%, though Q2 2025’s $7.7M net income and Q3’s modest profitability suggest margin expansion may be underway. Total assets have contracted to $770.1M from $973.7M a year ago, reflecting either asset sales or impairments that contributed to the equity decline.
This article was generated using AlphaStreet’s proprietary financial analysis technology and reviewed by our editorial team.