Forum Energy Technologies (NYSE:FTR)
Forum Energy Technologies is a global oilfield products company with a diverse set of products and services. Its products and services serve the subsea, drilling, completion, production, and infrastructure sectors. The company has offices around the world and employs more than 23,000 people. Its products are widely used in oilfield operations all over the world.
Forum Energy Technologies’ ISS Governance QualityScore
The ISS Governance QualityScore is a report that evaluates the corporate governance of a company. It is based on information derived from the company’s publicly available documents and is augmented by proprietary analytics. The ISS Governance QualityScore ranks companies across seven different subcategories based on the composition of the board. The report also evaluates the level of disclosure of diversity and inclusion performance metrics and the presence of special grants to executive officers.
Forum Energy Technologies’ ISS Governance QualityScore is a data-driven rating that evaluates the company’s performance in terms of governance practices. The methodology uses factors that are relevant globally and is based on more than two dozen factors. The score is based on a one-to-ten scale, where a lower score indicates lower governance quality. The ISS Governance QualityScore also includes historical data and trend analysis to provide more context and more insight.
Its cash flow from operations
Forum Energy Technologies’ fourth-quarter cash flow from operations decreased 33% year over year. The company reported revenues of US$617 million during the period, a 32% increase over the prior-year period. This decline is partially due to changes in working capital, which reduced free cash flow.
The company’s short-cycle product sales increased over the past year, which helped to lower costs and increase operating leverage. Additionally, the company is adding more revenue in areas such as offshore wind, methane emissions control, and carbon capture. But while these trends are encouraging, Forum Energy’s negative free cash flow is a concern. The company could reduce debt to improve its cash flow from operations, de-leveraging the balance sheet.
Forum Energy Technologies (NYSE:FTR) is a global oilfield products company that serves the drilling, completion, production, and infrastructure sectors. The company produces a range of equipment and services that make the energy sector more efficient. Its products are used throughout the oil and gas industry, including offshore, onshore, and subsea.
The company’s revenue is the amount of money it receives from its customers and is the top line item on its income statement. It is then deducted from costs and expenses to arrive at net income.
Forum Energy Technologies is a global provider of applied and manufactured products for the energy industry. The company provides a variety of services, including manufacturing and stamping parts with the necessary information. Its products are used in production and subsea drilling. Employees are self-reported, and some data is sourced from other sources.
In January 2012, the Company appointed Louis A. Raspino as a director to its board. He is also a member of the Compensation Committee. Prior to joining Forum, Mr. Raspino served as a director for Tidewater and the American Bureau of Shipping and as the Chairman of Clarion Offshore Partners, LLC, an affiliate of Blackstone.