Forum Energy Guides $800M–$880M 2026 Revenue After Q4 EPS, Backlog Beats
Forum Energy reported adjusted Q4 EPS of $0.41, $0.05 above estimates, and revenue of $202.0 million, topping forecasts by $11.7 million. Full-year free cash flow reached $80 million and backlog rose 46% year-over-year to $312 million, while 2026 guidance targets $800-880 million revenue.
1. Q4 2025 Earnings Beat Projections
Forum Energy reported adjusted earnings per share of $0.41 in Q4 2025, beating estimates by $0.05 and surpassing revenue forecasts with $202 million, $11.7 million above projections.
2. Record Backlog Growth
Backlog at quarter end reached $312 million, a 46% increase from the prior year and the highest level in 11 years, driven in part by newly developed products representing almost 12% of orders.
3. Strong 2026 Financial Guidance
Management set 2026 revenue guidance between $800 million and $880 million for approximately 6% growth at midpoint, with projected EBITDA of $90 million to $110 million, adjusted net income of $18 million to $38 million, and free cash flow of $55 million to $75 million.
4. Stock Reaction After Results
Shares rose 15.26% over the week following the earnings release, reflecting investor enthusiasm for the beat, record backlog and upwardly revised outlook.