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Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

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Forum Energy Technologies  / Equity Bottom-Up

<ul><li>FET expects FY25 free cash flow to fall within management’s original guidance range of $40-60 million despite macro headwinds that could affect 2H25 spending patterns by its customers.</li><li>1Q25 free cash flow totaled $7.2 million and, because of seasonal events, is typically the company’s lowest free cash flow quarter in a calendar year.</li><li>FET is actively managing its business in anticipation of potentially lower demand driven by macroeconomic and tariff uncertainty. </li></ul>

FET expects FY25 free cash flow to fall within management’s original guidance range of $40-60 million despite macro headwinds that could affect 2H25 spending patterns by its customers.1Q25 free cash flow totaled $7.2 million and, because of seasonal events, is typically the company’s lowest free cash flow quarter in a calendar year.FET is actively managing its business in anticipation of potentially lower demand driven by macroeconomic and tariff uncertainty. 

Forum Energy Technologies, Inc: Free Cash Flow Outlook Supports Share Repurchase Plan