FET’s 2Q16 earnings estimates
Analysts expect adjusted earnings per share (or EPS) of -$0.26 for Forum Energy Technologies (FET) in 2Q16. This means that Wall Street analysts expect FET’s adjusted EPS to deteriorate by 16% in the coming quarter compared to its 1Q16 adjusted EPS of -$0.22 per share.
Depressed crude oil prices, lower drilling activity in North America, and lower surface production equipment sales could result in FET’s 2Q16 earnings fall. FET is expected to hold its 2Q16 earnings conference call on July 29, 2016.
From 1Q15 to 1Q16, Forum Energy Technologies’ adjusted EPS turned negative primarily due to the falling rig count in the United States. Before that, FET had posted steady earnings growth from 2Q13 through 3Q14. During this period, its adjusted EPS rose by 53%.
Forum Energy Technologies’ earnings versus estimates
In 1Q16, Forum Energy Technologies’ adjusted EPS missed analysts’ consensus EPS estimate. On average, adjusted EPS have nearly matched consensus EPS estimates in the past 12 quarters.
Analysts expect McDermott International’s (MDR) 2Q16 adjusted earnings to crash by 88% compared to its 1Q16 adjusted earnings. FET makes up 0.06% of the iShares Russell 2000 ETF (IWM). The energy sector makes up 2.9% of IWM.
Next, we’ll discuss Forum Energy Technologies’ value drivers.