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.

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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.

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HOUSTON, May 28, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) announced it has been awarded a two-year frame agreement extension with Equinor, a multinational energy company, for the delivery of completions, liner-hangers, and slot recovery services.

Weatherford Awarded Framework Extension with Equinor for Completions and Slot Recovery

Weatherford International is positioned well to benefit from multiple years of industry growth. Weatherford is experiencing strong demand for its key solutions. Weatherford has strategies in place to drive EBITDA growth, which should drive the stock higher from the stock's attractive valuation.

Weatherford International: Poised For Growth In The Energy Services Bull Market

In 2024, we are seeking diversified exposure to commodity sub industries via differentiated operators with attractive economics. Weatherford International is well positioned to unlock risk capital for its equity holders on our base case valuation of $141/share. WFRD differentiates itself by providing services to the oil and gas industry, enjoying higher operating profits and margins compared to competitors.

Weatherford International: Supportive Economics With Price/Value Gap

Weatherford stock has had a remarkable rise over a three-year period, but I want to make the case that price history should not cloud an investment decision. The company is firing on all cylinders and management has a good grip on the business and its profitability. I value the company through three lenses and find it an attractive buy at present levels.

Weatherford: Fundamentals, Valuation Make This Stock An Attractive Buy

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Weatherford International plc (WFRD) Q1 2024 Earnings Call Transcript

Weatherford (WFRD) came out with quarterly earnings of $1.50 per share, beating the Zacks Consensus Estimate of $1.41 per share. This compares to earnings of $0.97 per share a year ago.

Weatherford (WFRD) Q1 Earnings and Revenues Beat Estimates

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

Weatherford Announces First Quarter 2024 Results and Raises Full Year Margin Guidance

HOUSTON, April 23, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford,” and together with its subsidiaries, the “Company,” “we,” “us” and “our”) today announced it has increased its Credit Facility by $130 million to $680 million in aggregate commitments by adding additional lenders to its facility. The facility is now comprised of a $309 million tranche available for performance letters of credit and a $371 million tranche available for revolving loans.

Weatherford Announces $130 Million Credit Facility Increase to $680 Million and Notice to Redeem All of Its 6.50% Senior Notes Due 2028

HOUSTON, April 16, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") announced the release of its 2023 Annual Update, highlighting outstanding results for the year. The digital update showcases new technology developments, recent strategic acquisitions, and the Company's unwavering focus on creating long-term value for customers and investors, paving the path for sustainable and steadfast growth.

Weatherford Releases 2023 Digital Annual Update

Weatherford (WFRD) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

Will Weatherford (WFRD) Beat Estimates Again in Its Next Earnings Report?

Weatherford (WFRD) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Weatherford (WFRD) Reports Next Week: Wall Street Expects Earnings Growth

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Weatherford (WFRD) could be a solid choice for shorter-term investors looking to capitalize on the recent price trend in fundamentally sound stocks. It is one of the many stocks that passed through our shorter-term trading strategy-based screen.

Weatherford (WFRD) Is a Great Choice for 'Trend' Investors, Here's Why

HOUSTON, March 22, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) will host a conference call on Wednesday, April 24, 2024 to discuss the Company's results for the first quarter ended March 31, 2024.

Weatherford Announces First-Quarter 2024 Conference Call

Weatherford International has experienced a significant turnaround since its bankruptcy in 2019, with its stock rising ~50X in the past four years. The company has been exceeding analyst earnings estimates and is expected to continue growing in 2024. Weatherford has restructured its operations, simplified its supply chain, and focused on improving margins, leading to strong financial performance.

Weatherford International: Not Just Your Father's Fishing Tool Company Anymore

Weatherford (WFRD) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions could translate into further price increase in the near term.

Weatherford (WFRD) Moves 6.2% Higher: Will This Strength Last?

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Weatherford International plc (WFRD) Q4 2023 Earnings Call Transcript

Weatherford (WFRD) came out with quarterly earnings of $1.90 per share, beating the Zacks Consensus Estimate of $1.42 per share. This compares to earnings of $1.12 per share a year ago.

Weatherford (WFRD) Q4 Earnings and Revenues Surpass Estimates

Fourth quarter revenue of $1,362 million increased 4% sequentially and 13% year-over-year; full year revenue of $5,135 million, increased 19% from prior year, driven by international revenue growth of 26% Fourth quarter operating income of $216 million decreased 1% sequentially and increased 28% year-over-year; full year operating income of $820 million, increased 99% from prior year Fourth quarter net income of $140 million, a 10.3% margin, increased 14% sequentially and increased 94% year-over-year; full year net income of $417 million, an 8.1% margin, increased by 1,504% from prior year Fourth quarter adjusted EBITDA* of $321 million, a 23.6% margin, increased 5% and 34 basis points sequentially and 21% and 157 basis points year-over-year; full year adjusted EBITDA* of $1,186 million, a 23.1% margin, the highest in over 15 years, increased 45% and 423 basis points from prior year Fourth quarter cash provided by operating activities of $375 million and adjusted free cash flow* of $315 million driven by heightened collections; full year cash provided by operating activities of $832 million and adjusted free cash flow* of $651 million Debt repayments of $226 million on 6.50% Senior Secured Notes comprised of the previously announced $75 million in the fourth quarter of 2023, and an additional $151 million in January 2024 Received credit rating upgrades from S&P Global Ratings to ‘B+' (with a positive outlook) and Moody's to ‘B1' (with a positive outlook); newly initiated Fitch Ratings of ‘B+' Closed acquisition of specialty technology plays in the wireline and plug and abandonment space, further highlighting growth prospects for the future Received OTC Asia Spotlight on New Technology Award in Tubular Running Services for StringGuard™ *Non-GAAP - refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled HOUSTON, Feb. 06, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) announced today its results for the fourth quarter of 2023 and full year 2023. Revenues for the fourth quarter of 2023 were $1,362 million, an increase of 4% sequentially and 13% year-over-year.

Weatherford Announces Fourth Quarter and Full Year 2023 Results

HOUSTON, Jan. 05, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) will host a conference call on Wednesday, February 7, 2024 to discuss the Company's results for the fourth quarter and full year ended December 31, 2023.

Weatherford Announces Fourth-Quarter and Full-Year 2023 Conference Call

Weatherford International has experienced a strong recovery with its share price rising over 400% since 2021. The company's new management has effectively improved its operations and strengthened its balance sheet. The relatively high oil prices at the moment will benefit Weatherford's business.

Weatherford International Continues Firmly On Its Turnaround Path

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News for Weatherford International PLC Stock (WFRD)