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 Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

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 , March 30, 2022  /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") will host a conference call on Thursday, April 28, 2022 to discuss the Company's results for the fiscal quarter ended March 31, 2022. The conference call will begin at 9:00 a.m.

Weatherford Announces First-Quarter 2022 Conference Call

HOUSTON, March 20, 2022 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") today announced the following update to its Russia operations. Girish Saligram, President and Chief Executive Officer, commented, "Our deepest sympathies go out to all those impacted by the ongoing crisis in Ukraine and sincerely hope that peace is restored soon to spare further hardship.

Weatherford Announces Update on Russia Operations

HOUSTON , March 17, 2022 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") announced the release of its 2021 Annual Report. The interactive and fully digital report shares the Company's 2021 financial results, strategic focus areas, achievements, and priorities for the future.

Weatherford Releases 2021 Annual Report

HOUSTON, March 17, 2022 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") announced that its Memory Raptor cased-hole evaluation system won an Offshore Technology Conference Asia (OTC Asia) Spotlight on New Technology award for OTC Asia 2022 Exhibitors. The Memory Raptor cased-hole evaluation system provides advanced reservoir management, formation evaluation, and production diagnostics without the need for a real-time wireline unit, making it an incredible value add from large-scale operations to even the smallest platforms, remote facilities, and satellite well installations.

Weatherford Wins OTC Asia Spotlight on New Technology Award for the Memory Raptor™ Cased-Hole Evaluation System

Weatherford International plc (WFRD) CEO Girish Saligram on Q4 2021 Results - Earnings Call Transcript

HOUSTON, Feb. 16, 2022 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") announced today its results for the fourth quarter of 2021. Fourth quarter 2021 revenues were $965 million, an increase of 15% year-over-year and 2% sequentially.

Weatherford Announces Fourth Quarter and Full Year 2021 Results

Post-bankruptcy, Weatherford has relisted to the Nasdaq and is the recipient of major industry tailwinds. With a restructured balance sheet and improved credit rating, financial leverage has become more manageable.

Weatherford: Major Industry Tailwinds Offset By Valuation

HOUSTON, Feb. 9, 2022 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") announced today a segment recast by quarter for the full year 2020 and through the third quarter of 2021. Effective the fourth quarter of 2021, Weatherford realigned its reporting structure to three product line segments (1) Drilling and Evaluation (2) Well Construction and Completions, and (3) Production and Intervention.

Weatherford Reportable Segment Change

HOUSTON, Jan. 18, 2022 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") will host a conference call on Thursday, February 17, 2022 to discuss the Company's results for the fourth quarter and full year ending December 31, 2021. The conference call will begin at 9:00 a.m.

Weatherford Announces Fourth-Quarter and Full-Year 2021 Conference Call

HOUSTON, Dec. 13, 2021 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") today announced the Company's issuer credit rating has recently been upgraded to 'B-' from 'CCC+' by S&P Global Ratings ("S&P"). S&P based the rating upgrade in part on the results of the recently completed series of refinancing and debt repayment transactions that both lengthened the debt maturity profile and demonstrated the Company's improved access to capital markets, as well as expected continued improvement in market conditions and the Company's financial measures.

Weatherford Announces Upgrade in Credit Rating To 'B-' From 'CCC+', Outlook Stable

Weatherford International (WFRD) has been struggling lately, but the selling pressure may be coming to an end soon.

Weatherford International (WFRD) Sees Hammer Chart Pattern: Time to Buy?

HOUSTON, Dec. 1, 2021 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") today announced it was awarded a three-year digital oilfield contract from one of the digital leaders in the upstream industry, Kuwait Oil Company ("KOC"), aiming to support its digital transformation strategy in North Kuwait Heavy Oil field and for deploying its Integrated Enterprise Excellence Platform across KOC. The award also includes instrumentation, real-time monitoring, and production optimization and assurance of wells to enable KOC to optimize its production and workover plans.

Weatherford Awarded Digital Oilfield Project in Kuwait

HOUSTON, Nov. 16, 2021 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") today announced that it was awarded two five-year contracts with Abu Dhabi National Oil Company ("ADNOC") with a combined value of more than USD 1 billion for downhole completions equipment and liner hanger systems. Girish Saligram, President and Chief Executive Officer, commented, "These drilling-related awards demonstrate our differentiated ability and commitment to support ADNOC in achieving its 2030 goal of expanding production capacity to 5mmbpd.

Weatherford Awarded Over $1 Billion in Downhole Completion and Liner Hanger Contracts by Abu Dhabi National Oil Company

WFRD will continue to expand operating margin through a better service mix, new contracts, and technology-enabled offerings. Weatherford's drilling evaluation & intervention and completion & production business will drive growth.

Weatherford International Can Rise From Margin Easing And Undervaluation

Weatherford International PLC (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.

Here's Why Momentum in Weatherford International PLC (WFRD) Should Keep going

Weatherford International plc's (WFRD) CEO Girish Saligram on Q3 2021 Results - Earnings Call Transcript

HOUSTON, Nov. 1, 2021 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") announced today its results for the third quarter of 2021. Third quarter 2021 revenues were $945 million, an increase of 5% sequentially and 17% year-on-year.

Weatherford Announces Third Quarter 2021 Results

HOUSTON, Oct. 27, 2021 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") today announced that its wholly-owned subsidiary, Weatherford International Ltd. (the "Issuer"), has closed its private offering of $1,600 million aggregate principal amount of 8.625% senior notes due 2030 (the "Notes").

Weatherford International plc Announces Closing of Senior Notes Offering

HOUSTON, Oct. 26, 2021 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") today announced the early tender results as of 5:00 p.m., New York City time, on October 25, 2021 (the "Early Tender Deadline") of the previously announced tender offer (the "Tender Offer") of its wholly owned subsidiary, Weatherford International Ltd.

Weatherford International plc Announces Early Tender Results of Cash Tender Offer for up to $1,600,000,000 of Weatherford International Ltd.'s 11.00% Senior Notes Due 2024

HOUSTON, Oct. 20, 2021 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") today announced that its wholly-owned subsidiary, Weatherford International Ltd. (the "Issuer"), has completed the previously announced redemption of $200 million principal amount of its 11.0% senior notes due December 1, 2024 using cash on hand.

Weatherford International plc Announces Redemption of $200 million principal amount of its 11.0% senior notes due December 1, 2024.

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HOUSTON, Oct. 18, 2021 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") announced that ForeSite Edge was named winner of a 2021 Hart Energy Special Meritorious Award for Engineering Innovation (MEA) in the Artificial Lift category. The MEA honor places ForeSite Edge among the year's best new innovations with game-changing technical and economical significance for the upstream petroleum industry.

Weatherford Wins Hart Energy Special Meritorious Award for Engineering Innovation for ForeSite® Edge Next-Generation Automation Technology

HOUSTON, Oct. 14, 2021 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") today announced that its wholly owned subsidiary, Weatherford International Ltd. (the "Issuer"), is amending its previously announced tender offer (the "Tender Offer") for its outstanding 11.00% Senior Notes due 2024 (the "Notes") by increasing the aggregate principal amount of the Notes that it would purchase for cash to up to $1,600,000,000 from $1,500,000,000.

Weatherford International plc Announces an Increase in the Maximum Tender Amount to $1.6 billion in the Previously Announced Cash Tender Offer for Weatherford International Ltd.'s 11.00% Senior Notes due 2024

HOUSTON, Oct. 14, 2021 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") today announced that its wholly owned subsidiary, Weatherford International Ltd. (the "Issuer"), has priced its previously announced offering of 8.625% senior notes due 2030 (the "Notes") at an issue price of 100%.

Weatherford International plc Announces the Upsizing and Pricing of a $1,600 Million Senior Notes Offering

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News for Weatherford International PLC Stock (WFRD)