Forum Energy Technologies raised its 2026 revenue and adjusted earnings outlook Oct. 29, 2026, after stronger equipment sales, while reporting that quarterly net income declined from the preceding period. The results give energy-sector operators a mixed picture of demand and cost pressure at the manufacturer.
This Rapid News Brief compares the company’s third-quarter release with its July outlook. The distinction matters because an increase in adjusted earnings does not mean reported profit improved on the same basis.
Sales grow, but costs remain a constraint
Revenue reached $237 million, up 5% from the second quarter. Net income was $11 million, down 9% sequentially, while adjusted net income rose 33% to $18 million. The reconciliation includes adjustments for restructuring and transaction expenses.
Drilling and Completions sales rose 6% sequentially to $147 million. Artificial Lift and Downhole sales increased 3% to $90 million, but the company said higher freight and tariff costs offset contributions from revenue growth to that segment’s adjusted EBITDA.
Those figures describe the manufacturer’s own business, not a measured change in operating costs across the energy industry. Nor do its adjusted results replace the reported net-income comparison.
Compare the new outlook with July’s ranges
Forum now forecasts full-year revenue of $900 million to $920 million, compared with $870 million to $910 million in July. Its adjusted EBITDA outlook increased to $123 million to $129 million from $115 million to $125 million.
The revised ranges move both endpoints higher, rather than merely narrowing the previous forecast. They remain management expectations for the year, not completed annual results.
In July, Forum had forecast third-quarter revenue of $225 million to $245 million and adjusted EBITDA of $31 million to $37 million. The latest revenue result and $36 million of adjusted EBITDA fell within those earlier ranges. That comparison is different from exceeding an analyst estimate.
For business readers, the operating takeaway is specific: sales improved, but higher costs constrained one segment’s adjusted earnings. The full-year outlook became more favorable without eliminating that pressure or reversing the sequential decline in reported net income.