HOUSTON (AP) _ Forum Energy Technologies Inc. (FET) on Friday reported earnings of $52.2 million in its third quarter.
On a per-share basis, the Houston-based company said it had profit of 54 cents. Earnings, adjusted for non-recurring gains, were 52 cents per share.
The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The provider of manufactured technologies and applied products in the energy sector posted revenue of $468.8 million in the period, which also topped Street forecasts. Analysts expected $443.9 million, according to Zacks.
Forum Energy shares have dropped almost 8 percent since the beginning of the year. The stock has declined 13 percent in the last 12 months.
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This story was generated by Automated Insights using data from Zacks Investment Research. FET stock research report from Zacks.
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Keywords:Forum Energy,Earnings Report