Weatherford International PLC

Weatherford International plc provides equipment and services to the oil and natural gas exploration and production industry. It operates through three segments: Drilling and Evaluation, Well Construction and Completions & Production and Intervention. The Drilling and Evaluation offers managed pressure drilling, drilling services, wire line and drilling fluids. The Well Construction and Completions including tubular running services, cementation products, completions, liner hangers and well services. The Production and Intervention offers intervention services & drilling tools, artificial lift, production automation & software, sub-sea intervention and pressure pumping services. The company was founded in 1941 and is headquartered in Houston, TX.

Earnings data Q2 2021

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Earnings data Q2 2023

Earnings data Q3 2023

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Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Weatherford International reports robust earnings, eyes margin expansion and debt reduction

Weatherford International's strong financial performance in Q4 2022 and full year, driven by revenue growth, margin expansion, and operational efficiencies, positions the company well for future growth.
While facing short-term challenges in Q1 2023 with margin decline and negative free cash flow, Weatherford's focus on debt reduction, margin improvement, and operational excellence presents opportunities for long-term success.
The company's strategic priorities of financial performance, organizational vitality, and innovation align with market opportunities in international and offshore segments, signaling a proactive approach to sustainable growth.

Weatherford International excels in Q1, eyes international growth opportunities

Weatherford International delivered a strong Q1 performance, exceeding revenue, margin, and cash generation expectations. Despite challenges in certain markets and cost recoveries impacting Q2 revenue, the company remains focused on strategic priorities for long-term growth and profitability.

Weatherford International PLC reports robust Q2 earnings and market optimism

Weatherford International's Q2 2023 showcased strong financial performance, notable contract wins, and technological advancements. Despite challenges in North America and financial queries, the company remains optimistic about market opportunities and growth prospects.

Weatherford reports strong Q3 performance, eyes international market growth

Weatherford International PLC's Q3 performance showcased revenue growth, margin improvement, and strong cash flow generation. The company's strategic priorities focus on margin expansion, cash generation, and enhancing the balance sheet. With a positive market outlook for international and offshore segments, Weatherford aims to leverage technological advancements and strategic initiatives for future growth.

Weatherford International excels in 2023, eyes global growth opportunities

Weatherford International's strong 2023 performance, focus on margin expansion, and strategic priorities for 2024 position the company for continued growth. Debt reduction, CapEx management, and sustaining margin expansion are key challenges. M&A opportunities, international growth, and regional opportunities offer avenues for further expansion.

Weatherford International excels in Q1 2024, eyes gas market growth

Weatherford International's Q1 2024 showcased strong financial performance, strategic focus on growth and innovation, and positive market outlook. While facing challenges in capital allocation and margin progression, the company is well-positioned to capitalize on opportunities in the gas sector and international markets.

Weatherford International reports robust Q2 performance amidst global challenges

Weatherford International's Q2 performance showcased strong financial metrics and international growth, despite challenges from external factors.
The company's strategic initiatives, including a shareholder return program and focus on technology, position it well for future success and value creation.
While facing challenges like social unrest and debt reduction, Weatherford's opportunities lie in revenue growth, margin improvement, and market expansion.

Weatherford International reports robust Q3 performance and optimistic outlook

Weatherford International's Q3 2024 performance showcased strong financial metrics, strategic initiatives, and a positive outlook for the year. The company's focus on margin expansion, cash flow generation, and inorganic growth highlights its commitment to long-term success and value creation for stakeholders.

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Weatherford International plc engages in providing equipment and services to the oil and natural gas exploration and production industry. It operates through the following segments: Drilling and Evaluation (DRE), Well Construction and Completions (WCC) and Production and Intervention (PRI). The DRE segment offers managed pressure drilling, drilling services, wire line, and drilling fluids. The WCC segment includes tubular running services, cementation products, completions, liner hangers, and well services. The PRI segment covers the intervention services and drilling tools, artificial lift, production automation and software, sub-sea intervention, and pressure pumping services. The company was founded in 1941 and is headquartered in Houston, TX.

HOUSTON, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced that it has been awarded a three-year contract for the provision of rigless services as part of the reactivation of ADNOC onshore strings. The project is slated to begin in the fourth quarter of 2024, where Weatherford is expected to deploy multiple intervention solutions, advancing the operational efficiency and reliability of ADNOC's onshore assets.

Weatherford Secures Three-Year Contract with ADNOC

HOUSTON, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced two contracts in the Middle East, with Kuwait Oil Company (“KOC”) and a National Oil Company (“NOC”) in Qatar.

Weatherford Announces Contract Awards with Kuwait Oil Company and NOC in Qatar

Weatherford International's Q3 revenue missed analyst expectations, but EPS beat estimates, showing mixed financial performance. Segment revenues remained flat, with minimal growth, and adjusted EBITDA decreased by 3%, indicating slowing growth. Despite positive capital allocation moves and reduced net debt, the company's future growth outlook is unclear.

Weatherford: Q3 Shows A Very Mixed Picture

Weatherford International plc (NASDAQ:WFRD ) Q3 2024 Earnings Conference Call October 23, 2024 8:30 AM ET Company Participants Luke Lemoine - SVP, Corporate Development and IR Girish Saligram - President & CEO Arun Mitra - EVP & CFO Conference Call Participants David Anderson - Barclays James West - Evercore Scott Gruber - Citigroup Ati Modak - Goldman Sachs Jim Rollyson - Raymond James Saurabh Pant - Bank of America Kurt Hallead - Benchmark Doug Becker - Capital One Joshua Chan - Daniel Energy Partners Operator Thank you. Ladies and gentlemen, thank you for standing by.

Weatherford International plc (WFRD) Q3 2024 Earnings Call Transcript

Weatherford (WFRD) came out with quarterly earnings of $2.06 per share, beating the Zacks Consensus Estimate of $1.65 per share. This compares to earnings of $1.66 per share a year ago.

Weatherford (WFRD) Surpasses Q3 Earnings Estimates

Revenues of $1,409 million increased 7% year-over-year Operating income of $243 million increased 11% year-over-year Net income of $157 million increased 28% year-over-year; net income margin of 11.1% Adjusted EBITDA* of $355 million increased 16% year-over-year; adjusted EBITDA margin* of 25.2% increased by 197 basis points year-over-year Cash provided by operating activities of $262 million, an increase of $112 million sequentially and $90 million year-over-year; adjusted free cash flow* of $184 million, an increase of $88 million sequentially and $47 million year-over-year Received credit rating upgrade from S&P Global Ratings to ‘BB-' with positive outlook, and from Fitch to ‘BB-' with stable outlook Shareholder returns of $68 million for the quarter, which includes dividends payment of $18 million and share repurchases of $50 million Board approved quarterly cash dividend of $0.25 per share payable on December 5, 2024 to shareholders of record as of November 6, 2024 Deployment of Victus™ Managed Pressure Drilling (MPD) systems in the first two deep geothermal exploration wells that have been drilled for a major operator in the Middle East Aramco awarded Weatherford a three-year Corporate Procurement Agreement (CPA) including Cementation Products, Completions, Liner Hangers, and Whipstocks, as well as associated service agreements, to enhance its operational efficiency and strategic goals Hosted 20th annual FWRD conference focused on digitalization and next-generation life-of-well solutions to boost efficiency, sustainability, and performance *Non-GAAP - refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled HOUSTON, Oct. 22, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) announced today its results for the third quarter of 2024. Revenues for the third quarter of 2024 were $1,409 million, an increase of 0.3% sequentially and an increase of 7% year-over-year.

Weatherford Third Quarter 2024 Results

Weatherford (WFRD) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Analysts Estimate Weatherford (WFRD) to Report a Decline in Earnings: What to Look Out for

The energy industry has come into the spotlight recently as crude oil and natural gas prices have retreated.  Most oil stocks have pulled back as investors have embraced the new normal of lower prices as demand concerns have remained.

I'd avoid SLB and Baker Hughes and buy Weatherford stock

HOUSTON, Sept. 17, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) will host a conference call on Wednesday, October 23, 2024 to discuss the Company's results for the third quarter ending September 30, 2024.

Weatherford Announces Third-Quarter 2024 Conference Call

HOUSTON, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced the Company's issuer credit rating has recently been upgraded to ‘BB-' from 'B+' by S&P Global Ratings (“S&P”). S&P based the rating upgrade on multiple factors, including improved operating efficiency and debt repayment.

Weatherford Announces S&P Credit Rating Upgrade To ‘BB-' From 'B+', Positive Outlook

HOUSTON, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced the acquisition of Datagration Solutions Inc., an innovator in unified data integration, analytics, and machine learning. The acquisition establishes Weatherford as having one of the industry's most capable and contemporary digital offerings for production and asset optimization and demonstrates its commitment to continuously driving innovation across its technology portfolio.

Weatherford Announces Acquisition of Datagration

HOUSTON, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford,” the “Company,” “we,” “us,” and “our”) announced today the release of its annual Sustainability Report, which shares the Company's latest advancements in environmental, social, and governance (“ESG”) practices and sustainability efforts.

Weatherford Releases Annual Sustainability Report

Weatherford International plc (NASDAQ:WFRD ) Q2 2024 Earnings Conference Call July 24, 2024 9:00 AM ET Company Participants Mohammed Topiwala - Vice President, Investor Relations & M&A Girish Saligram - President & Chief Executive Officer Arun Mitra - Executive Vice President & Chief Financial Officer Conference Call Participants Luke Lemoine - Piper Sandler James West - Evercore David Anderson - Barclays Ati Modak - Goldman Sachs Jim Rollyson - Raymond James Scott Gruber - Citigroup Doug Becker - Capital One Kurt Hallead - Benchmark Saurabh Pant - Bank of America Operator Good day, and welcome to the Weatherford Second Quarter 2024 Results Conference Call. All participants will be in a listen-only mode.

Weatherford International plc (WFRD) Q2 2024 Earnings Call Transcript

Weatherford (WFRD) came out with quarterly earnings of $1.66 per share, missing the Zacks Consensus Estimate of $1.71 per share. This compares to earnings of $1.12 per share a year ago.

Weatherford (WFRD) Misses Q2 Earnings and Revenue Estimates

*Non-GAAP - refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled

Weatherford Announces Second Quarter 2024 Results and Shareholder Return Program

HOUSTON, July 23, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced that its Board of Directors (the “Board”) has appointed Steven Beringhause as a director with a term expiring at the 2025 Annual Meeting of Shareholders. His appointment is effective July 23, 2024, and will increase the size of the Company's Board to six members.

Weatherford Announces New Appointment to Board of Directors

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Weatherford (WFRD) could be a great choice for investors looking to make a profit from fundamentally strong stocks that are currently on the move. It is one of the several stocks that made it through our "Recent Price Strength" screen.

Recent Price Trend in Weatherford (WFRD) is Your Friend, Here's Why

Weatherford (WFRD) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

Weatherford (WFRD) Stock Jumps 3.6%: Will It Continue to Soar?

HOUSTON, June 20, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) will host a conference call on Wednesday, July 24, 2024 to discuss the Company's results for the second quarter ended June 30, 2024.

Weatherford Announces Second-Quarter 2024 Conference Call

HOUSTON, June 11, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford,” and together with its subsidiaries, the “Company,” “we,” “us” and “our”) announced that it has increased its Credit Facility by $40 million to $720 million in aggregate commitments by adding a new lender.

Weatherford Announces Expansion of Credit Facility and Amendment of Accordion Size

HOUSTON, June 06, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) announced it has been awarded a new five-year contract with Bapco Upstream, a subsidiary of Bapco Energies, in Bahrain to deliver Directional Drilling and Logging While Drilling Services, replacing the current Drilling Services contract that Weatherford was awarded in 2015.

Weatherford Awarded Drilling Services Contract from Bapco Energies

HOUSTON, June 04, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) announced it has signed a Memorandum of Understanding (“MOU”) with QatarEnergy to establish a robust framework aimed at advancing Tawteen's In-Country Value program objectives to develop the local energy industry, foster career opportunities and talent development, and drive technology innovation in support of the Qatar National Vision 2030.

Weatherford Signs Memorandum of Understanding with QatarEnergy to Advance Tawteen In-Country Value Program

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