Research from Water Tower Research, Water Tower Research

Water Tower Research

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.

Research from Water Tower Research

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Equity Bottom-Up

Forum Energy Technologies  / Equity Bottom-Up

<ul><li>Variperm’s margin accretive impact on FET’s financial performance was clearly evident in the company’s 1Q24 results.</li><li>The acquisition, which closed in early January 2024, helped drive a 458-bp expansion in FET’s adjusted EBITDA margin in 1Q24, compared with 4Q23, and a 353-bp expansion Y/Y.</li><li>The acquisition significantly enhanced FET’s Downhole and Artificial Lift segment product portfolio, exposing FET to new markets.</li></ul>

Variperm’s margin accretive impact on FET’s financial performance was clearly evident in the company’s 1Q24 results.The acquisition, which closed in early January 2024, helped drive a 458-bp expansion in FET’s adjusted EBITDA margin in 1Q24, compared with 4Q23, and a 353-bp expansion Y/Y.The acquisition significantly enhanced FET’s Downhole and Artificial Lift segment product portfolio, exposing FET to new markets.

Forum Energy Technologies, Inc. - Technological Solutions That Improve Performance