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FET News
FET Events
Raises FY26 Adjusted EBITDA Outlook to $125M
Consensus $855.67M. Raises FY26 adjusted EBITDA view to $115M-$125M from $90M-$110M.
Company Reports Q2 Revenue of $226M, Exceeding Estimates
Reports Q2 revenue $226M, two estimates $212.35M. Neal Lux, President and Chief Executive Officer, remarked, "At the beginning of the quarter, we guided a substantial increase in financial performance, and our team exceeded expectations. Sequentially, we grew market share 13%, increased revenue 8%, expanded gross and adjusted EBITDA margins 230 and 300 basis points, and improved adjusted net income 148%. Importantly, free cash flow enabled us to repurchase shares while reducing net leverage to 1.1 times. By executing our 'Beat the Market' strategy and delivering solid operational performance, we achieved a stellar quarter."
Sees Q3 Adjusted EBITDA of $31M-$37M
Sees Q3 adjusted EBITDA $31M-$37M.
FET Reports Q1 Revenue of $208.7M, Exceeding Estimates
Reports Q1 revenue $208.7M, two estimates $201.3M. Neal Lux, CEO, remarked, "FET's first quarter results continued our momentum from 2025, with revenue and adjusted EBITDA growing 8% and 14% year-over-year. We received strong orders for our differentiated products and increased our backlog 44% compared to the first quarter 2025. The execution of our "Beat the Market" strategy continues to yield share gains. The conflict in the Middle East has produced significant hardships for the region. Thankfully, our employees remain safe and we experienced minimal impact to our financial results. Longer term, we expect elevated commodity prices and increased upstream spending to drive demand for FET's innovative products and technology. The combination of market expansion and our "Beat the Market" strategy's results provide additional confidence we will achieve our long-term FET 2030 goals. In the near term, we expect second quarter results to increase substantially, with adjusted EBITDA between $24 and $30 million. This performance will be driven by backlog conversion, cost savings, and market share gains. While we are seeing signs of increased industry activity, our current forecast conservatively assumes a flat market. However, with a strong start to the year, we are raising the mid-point of our full year 2026 adjusted EBITDA guidance range to $103 million, a 20% percent increase over 2025 results."
Sees FY26 Adjusted EBITDA of $90M-$110M
Sees FY26 adjusted EBITDA $90M-$110M.
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