Forum Energy Rises 5.4% as LNG Exports to Double and Rig Counts Surge
Forum Energy Technologies shares jumped 5.4% to $47.98 on heavy volume, extending a 15.2% four-week rally. Management projects U.S. LNG exports to nearly double by 2028 and forecasts rig counts at 2023 peaks, underpinning expectations of $0.36 EPS (+175% YoY) and $190.5m revenue (-5.2% YoY).
1. Stock Rally
Forum Energy Technologies shares jumped 5.4% to $47.98 on February 9, extending a 15.2% gain over the past four weeks with volume exceeding the session average.
2. Demand Drivers
The company cites rising global oil and gas demand, driven by strong GDP growth, urbanization and AI data center power needs, for its expectation that U.S. LNG exports will nearly double by 2028 and rig counts will return to 2023 peaks with 7% annual service-intensity gains.
3. Earnings Outlook
Analysts forecast $0.36 EPS for the quarter, a 175% year-over-year increase, and $190.5 million revenue, down 5.2% from last year, with consensus EPS unchanged over the past 30 days.