Forum Announces Financial Update for Current Oil Market and COVID-19
Forum Energy Technologies, Inc. (FET)
Last forum energy technologies, inc. earnings: 2/12 08:25 pm
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US:NYSE Investor Relations:
ir.f-e-t.com
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Source: Business Wire
HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) (“Forum” or, the “Company”) today announced a financial update in view of the significant impact that the COVID-19 pandemic and the collapse in oil and gas prices are having on drilling and completion activity, and demand for Forum’s products. Forum is taking a number of actions in response to the current market environment, including the following:Approved a financial plan that is expected to result in at least a $50 million reduction in SG&A expense on an annualized basis, including reductions in executive compensation.Expectation to record impairment charges for restructuring, severance, and non-cash charges for asset write downs of at least $30 million.Increased cash on hand to assure a strong liquidity position by drawing $55 million on its revolving credit facility during the first quarter of 2020, plus an additional $30 million subsequent to March 31, 2020.As the pandemic and significant decline in drilli
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FET
Earnings
- 10/30/25 - Beat
FET
Sec Filings
- 1/12/26 - Form 4
- 1/12/26 - Form 3
- 1/12/26 - Form 8-K
- FET's page on the SEC website