Why Forum Energy Technologies Stock Blasted Nearly 22% Higher on Friday

Forum Energy Technologies (FET) surged nearly 22% after posting strong Q2 earnings with $226 million in revenue (8% YoY growth) and adjusted net income of $13.7 million, beating analyst expectations. The company raised full-year 2026 guidance to $870-910 million in revenue and $42-52 million in adjusted net income, benefiting from strong activity in the oil and gas industry.