The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: John Daniel - Daniel Energy Partners - Analyst
: Hey, good morning guys. Neal, I was trying to take copious notes as you're going through your prepared remarks. I think you mentioned something
about a new product tied to mobile tower. Did I hear that correctly and so can you elaborate on what it is, what it'll do, and the opportunity set?
Question: John Daniel - Daniel Energy Partners - Analyst
: Okay, those would all be domestic?
Question: John Daniel - Daniel Energy Partners - Analyst
: Okay, got it. And then just went on sort of the traditional sort of coil wire line completion stuff, as orders have moderated a tad, I mean, are you
seeing a set up where you're going to -- three to four to five quarters and I don't see a spike in those orders? Do you get the sense they're working
through their inventory? Just any thoughts there?
Question: John Daniel - Daniel Energy Partners - Analyst
: Okay, got it. I'll turn it over. Thank you, guys.
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FEBRUARY 21, 2025 / 4:00PM, FET.N - Q4 2024 Forum Energy Technologies Inc Earnings Call
Question: Dave Storms - Stonegate Capital Partners - Analyst
: Good morning.
Question: Dave Storms - Stonegate Capital Partners - Analyst
: Morning. Just wanted to start with maybe some of the puts and takes on guidance. You mentioned that the beat the market strategy should help
maintain the top line despite maybe, some overall market weakness, but it still looks like you're EBITDA at midpoint guidance is about a [5%]
decrease year every year. Just hoping you could speak to maybe some of the margin assumptions or price mix volume decisions that would drive
that.
Question: Dave Storms - Stonegate Capital Partners - Analyst
: Understood that's very helpful. And just kind of on that, with the general market, expected to decline to 2% to 5%, are you seeing any pockets of
strength? I know international has been a bright spot, could be a little choppy for you guys, just curious as to if there's any green shoots that you
are seeing out there.
Question: Dave Storms - Stonegate Capital Partners - Analyst
: That's very helpful. Thank you for taking my questions and good luck in the first quarter.
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FEBRUARY 21, 2025 / 4:00PM, FET.N - Q4 2024 Forum Energy Technologies Inc Earnings Call
Question: Jeff Robertson - Water Tower Research LLC - Analyst
: Thank you. Good morning, Neal. You talked about gaining market share in 2024 and over the last three years. As you look at the market conditions
in 2025, are there areas where you think you still have room to grow market share? And are those -- if so, are those product lines in ones that would
have a favorable impact on margins versus maybe lower sales in other lines.
Question: Jeff Robertson - Water Tower Research LLC - Analyst
: On the products you mentioned, the Unity remote control system for ROVs, has that been field tested to the point where you're getting more
interest in it from a broader group of customers?
Question: Jeff Robertson - Water Tower Research LLC - Analyst
: In the past with respect to returning cash to shareholders, you all have I guess broadly talked about the possibility of a dividend. Does the share
repurchase plan, do you think just give you the most flexibility as you look at the options on the value of FET versus the evaluations that you're
seeing in the acquisition market?
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FEBRUARY 21, 2025 / 4:00PM, FET.N - Q4 2024 Forum Energy Technologies Inc Earnings Call
Question: Jeff Robertson - Water Tower Research LLC - Analyst
: Thank you, Lyle.
Question: Steve Ferazani - Sidoti & Company, LLC - Analyst
: Morning everyone. I appreciate you taking my question. I did want to follow up a couple of the earlier questions. In terms of your breakdown on
seeing 2% to 5% decline in drilling and completions. I'm just trying to think about some of your individual markets. Variperm's been really successful,
that's high margin.
In December we saw a pretty healthy guidance from the bigger oil producers, but that was pre tariff talk. You said that Canada started up healthy
for you. Are you seeing any kind of impact at this point? Are you expecting any kind of impact?
Question: Steve Ferazani - Sidoti & Company, LLC - Analyst
: Okay, and then then the other side of the border, and I don't know how much exposure country to country, but Mexico obviously very soft. Could
that hit you in the first half?
Question: Steve Ferazani - Sidoti & Company, LLC - Analyst
: Okay.
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FEBRUARY 21, 2025 / 4:00PM, FET.N - Q4 2024 Forum Energy Technologies Inc Earnings Call
Question: Steve Ferazani - Sidoti & Company, LLC - Analyst
: Excellent. If I get one more in, obviously your balance sheet, extremely strong. You noted that the outperformance of Variperm. If we end up in
this sort of soft environment, flat to slightly down year, new opportunities might emerge given the balance sheet, I understand the better returns
from share buybacks. Are you open and ready to jump if if the next Variperm comes up and not to say it would.
Question: Steve Ferazani - Sidoti & Company, LLC - Analyst
: Excellent. Thanks everyone.
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