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 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.

Weatherford International plc (NASDAQ:WFRD ) Q3 2022 Earnings Conference Call October 26, 2022 10:00 AM ET Company Participants Mohammed Topiwala - Director, Investor Relations & M&A Girish Saligram - President & Chief Executive Officer Desmond Mills - Senior Vice President, Chief Accounting Officer and Interim Chief Financial Officer Conference Call Participants Doug Baker - Benchmark Research Luke Lemoine - Piper Sandler James Hubbard - Deutsche Bank Gregg Brody - Bank of America Operator Ladies and gentlemen, thank you for standing by. Welcome to the Weatherford International Third Quarter 2022 Earnings Call.

Weatherford International plc (WFRD) Q3 2022 Earnings Call Transcript

HOUSTON, Oct. 25, 2022 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) announced today its results for the third quarter of 2022.

Weatherford Announces Third Quarter 2022 Results

HOUSTON, Oct. 24, 2022 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) received a five-year contract exceeding $500 million from Petroleum Development Oman (“PDO”) to deliver Integrated Drilling Services in the Marmul and Grater Saqar fields. Operations are targeted to begin in the fourth quarter of 2022.

Weatherford Receives Award from Petroleum Development Oman to Provide Integrated Drilling Services

HOUSTON, Oct. 18, 2022 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced it intends to use cash on hand to redeem $125 million principal amount of its 11.0% senior notes due December 1, 2024 on November 17, 2022 (the "Unsecured Notes").

Weatherford Announces Redemption of $125 Million Principal Amount of its 11.0% Senior Notes due December 1, 2024

HOUSTON, Oct. 18, 2022 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) announced that on October 17, 2022 certain of its wholly-owned subsidiaries entered into a credit agreement, which amended and restated the Company's existing secured letter of credit agreement, dated December 13, 2019, as amended (the “Credit Facility”).

Weatherford Enters into $370 Million Amended and Restated Credit Facility

HOUSTON , Oct. 13, 2022 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") announces entering into a strategic agreement with Kwantis, a leading advanced drilling analytics company. This agreement will strengthen the Weatherford Centro™ well construction optimization platform with multi-well benchmarking and Drilling KPI analytics to provide exceptional visibility and performance optimization across multiple operations for our clients.

Weatherford and Kwantis to Deliver Data-Driven Drilling Performance Management with Advanced Analytics

HOUSTON , Oct. 3, 2022 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") will host a conference call on Wednesday, October 26, 2022 to discuss the Company's results for the third quarter ended September 30, 2022. The conference call will begin at 10:00 a.m.

Weatherford Announces Third-Quarter 2022 Conference Call

HOUSTON , Oct. 3, 2022 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") has appointed Charles "Chuck" Davison, Jr. as Executive Vice President of Operational Excellence, effective September 30, 2022. Mr. Davison brings 25 years of experience in growing and transforming international technology-focused businesses in oil and gas services, energy infrastructure, and industrial, consumer, and engineered products.

Weatherford Appoints Executive Vice President of Operational Excellence

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On this date two years ago, West Texas Intermediate (WTI) crude oil traded at right around $40 a barrel, and Brent crude traded at around $41 a barrel.

10 ‘Attractive' Small and Mid-Cap Oil & Gas Stocks Goldman Sachs Loves Now

HOUSTON , Sept. 19, 2022 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") announced that it would host FWRD, an evolution of the long-standing WESC digital conference, on September 20 th and 21st, 2022.

Weatherford Hosts the FWRD Conference to Demonstrate Digital Innovation in the Energy Industry

Does Weatherford (WFRD) have what it takes to be a top stock pick for momentum investors? Let's find out.

Here's Why Weatherford (WFRD) is a Great Momentum Stock to Buy

Weatherford (WFRD) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices.

Here Is Why Bargain Hunters Would Love Fast-paced Mover Weatherford (WFRD)

The consensus price target hints at a 62.4% upside potential for Weatherford (WFRD). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

Wall Street Analysts Believe Weatherford (WFRD) Could Rally 62%: Here's is How to Trade

The mean of analysts' price targets for Weatherford (WFRD) points to a 102.6% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

Wall Street Analysts See a 103% Upside in Weatherford (WFRD): Can the Stock Really Move This High?

Weatherford International plc (NASDAQ:WFRD ) Q2 2022 Earnings Conference Call July 28, 2022 9:00 AM ET Company Participants Mohammed Topiwala - Director, Investor Relations & M&A Girish Saligram - President & Chief Executive Officer Keith Jennings - Executive Vice President & Chief Financial Officer Conference Call Participants Doug Baker - Benchmark Research James Hubbard - Deutsche Bank Ati Modak - Goldman Sachs Gregg Brody - Bank of America Operator Ladies and gentlemen, thank you for standing by. Welcome to the Weatherford International Second Quarter 2022 Earnings Call.

Weatherford International plc (WFRD) CEO Girish Saligram on Q2 2022 Results - Earnings Call Transcript

Full-year revenue outlook increased to mid-teens growth year-over-year Second quarter revenues of $1,064 million increased 13% sequentially, led by strong international growth of 14% Operating income was $104 million, compared to $18 million in the first quarter of 2022 and adjusted EBITDA[1] was $186 million or a 17.5% adjusted EBITDA margin, a sequential increase of 23%, a 140 basis points adjusted EBITDA margin rate expansion Net cash provided by operating activities was $60 million and free cash flow[1] was $59 million, driven by improved collections efficiency Issued a notice of election to redeem $50 million of our 11% senior unsecured notes Joined the broad-market Russell 3000® Index, effective June 27, 2022 HOUSTON , July 27, 2022 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") announced today its results for the second quarter of 2022. Revenues for the second quarter of 2022 were $1,064 million, an increase of 13% sequentially and 18% year-over-year.

Weatherford Announces Second Quarter 2022 Results and Raises Full-Year Outlook

HOUSTON , July 11, 2022 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") today announced it intends to use cash on hand to redeem $50 million principal amount of its 11.0% senior notes due December 1, 2024 on August 10, 2022 (the "Unsecured Notes"). Girish Saligram, President and Chief Executive Officer, commented, "I am extremely proud of the progress we have made to strengthen our operating profile as we continue on our journey to realize sustainable profitability and free cash flow generation.

Weatherford International plc Announces Redemption of $50 million principal amount of its 11.0% senior notes due December 1, 2024

HOUSTON , July 5, 2022 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") will host a conference call on Thursday, July 28, 2022 to discuss the Company's results for the second quarter ended June 30, 2022. The conference call will begin at 9:00 a.m.

Weatherford Announces Second-Quarter 2022 Conference Call

HOUSTON , June 24, 2022 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford," the "Company," "we," "us," and "our") announced today it has been added as a member of the broad-market Russell 3000® Index, effective after the US market opens on June 27, 2022 as part of the 2022 Russell indexes annual reconstitution. Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 6, 2022, ranking them by total market capitalization.

Weatherford joins Russell 3000® Index

HOUSTON , May 25, 2022 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford," the "Company," "we," "us," and "our") announced today the release of its inaugural Sustainability Report, which details its strategic approach to advancing environmental, social, and governance ("ESG") objectives and highlights its recent accomplishments. Sustainable operations have always been at the core of how Weatherford runs its business.

Weatherford Releases 2021 Sustainability Report

HOUSTON , May 16, 2022 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") announced today that H. Keith Jennings, Executive Vice President and Chief Financial Officer, will leave the Company effective July 31, 2022.

Weatherford Announces Executive Leadership Changes

Following a strategic realignment, Weatherford International has refined its portfolio with a focus on specialty services. The demand for WFRD's integrated MPD (managed pressure drilling) is rising.

Weatherford International: Margin Easing Can Mitigate Balance Sheet Risks

Weatherford International plc (NASDAQ:WFRD ) Q1 2022 Earnings Conference Call April 28, 2022 9:30 AM ET Company Participants Mohammed Topiwala - Director of IR Girish Saligram - President & CEO Keith Jennings - EVP & CFO Conference Call Participants Ian MacPherson - Piper Sandler Doug Baker - Benchmark Research Anna Leonard - Bank of America Operator Ladies and gentlemen, thank you for standing by. Welcome to the Weatherford International First Quarter 2022 Earnings Call.

Weatherford International plc (WFRD) CEO Girish Saligram on Q1 2022 Results - Earnings Call Transcript

Revenues of $938 million increased 13% year-over-year Operating income totaled $18 million and adjusted EBITDA[1] totaled $151 million, or 16% adjusted EBITDA margins representing increases of 238%, 48% and 380 basis points year-over-year respectively Cash used in operating activities was $64 million and negative free cash flow[1] was $64 million mainly driven by working capital requirements Innovation focus highlighted with commercialization of new technology and expanded Managed Pressure Drilling and Tubular Running Services offerings OTC Asia Spotlight on New Technology Award for our Memory Raptor™ Cased-Hole Evaluation System HOUSTON , April 27, 2022 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") announced today its results for the first quarter of 2022. Revenues for the first quarter of 2022 were $938 million, an increase of 13% year-over-year and a decrease of 3% sequentially.

Weatherford Announces First Quarter 2022 Results

Weatherford International plc (NASDAQ:WFRD) is a global energy services company operating in more than 75 countries.

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