Weatherford Earnings Reports

Weatherford's fourth quarter revenue was $1,341 million, a decrease of 5% sequentially and 2% year-over-year. The company's operating income was $198 million, down 19% sequentially and 8% year-over-year. Net income for the quarter was $112 million, a decrease of 29% sequentially and 20% year-over-year.

Weatherford International plc reported revenues of $1,409 million, a 7% increase year-over-year. Operating income increased by 11% to $243 million, and net income rose by 28% to $157 million. The company's adjusted EBITDA increased by 16% to $355 million, with a margin of 25.2%.

Weatherford announced strong Q2 2024 results, with revenues of $1,405 million, a 10% increase year-over-year. The company also introduced its first-ever shareholder return program, including a $1 annual dividend per share and a $500 million share repurchase program.

Weatherford reported a strong first quarter in 2024, with revenue increasing by 15% year-over-year to $1,358 million. The company's operating income and net income also saw significant increases. Adjusted EBITDA margin reached a record high, and the company raised its full-year adjusted EBITDA margin guidance.

Weatherford reported a strong fourth quarter and full year 2023, with revenue increasing by 13% year-over-year for the quarter and 19% for the full year. The company's operating income and net income also saw significant increases, and the adjusted EBITDA margin reached its highest level in over 15 years. Strategic acquisitions and contract wins position Weatherford for continued growth in 2024.

Weatherford International plc announced its Q3 2023 results, showcasing a 17% year-over-year increase in revenues to $1,313 million. The company's operating income rose to $218 million, and net income reached $123 million, a 339% increase year-over-year. Adjusted EBITDA was $305 million, a 43% increase year-over-year. The company also highlighted its enhanced liquidity and balance sheet flexibility through a new $550 million credit facility.

Weatherford announced strong second-quarter results with revenues of $1,274 million, a 7% sequential increase. Operating income rose by 9% sequentially to $201 million, and net income increased to $82 million. The company raised its full-year 2023 adjusted EBITDA margins guidance and expects adjusted free cash flow to exceed $400 million for the year.

Weatherford International plc announced its first quarter 2023 results, with revenues of $1,186 million, a 26% increase year-over-year. Operating income was $185 million, a 928% increase year-over-year. Net income was $72 million, a 190% increase year-over-year. Adjusted EBITDA was $269 million, a 78% increase year-over-year.

Weatherford announced strong Q4 2022 results with revenues of $1,209 million, a 25% increase year-over-year, and operating income of $169 million, a 412% increase year-over-year. The company's net income was $72 million, a substantial improvement from the previous year's net loss. Adjusted EBITDA was $266 million, representing a 22.0% margin, and free cash flow was $171 million.

Weatherford International plc announced strong Q3 2022 results, with revenues of $1,120 million, a 5% sequential increase. The company reported a net income of $28 million and operating income of $121 million. Adjusted EBITDA was $214 million, representing a 19.1% margin. Free cash flow was $133 million, driven by higher adjusted EBITDA margins and working capital efficiency.

Weatherford International plc announced strong second-quarter results, exceeding expectations with sequential growth in revenues, adjusted EBITDA, and free cash flow. The company raised its full-year revenue outlook, expecting mid-teens growth year-over-year.

Weatherford International plc announced first quarter 2022 results with revenues of $938 million, a 13% increase year-over-year. The company reported an operating income of $18 million and an adjusted EBITDA of $151 million. Despite facing headwinds from supply chain issues, inflation, and geopolitical events, Weatherford delivered solid results aligned with guidance.

Weatherford International plc announced its Q4 2021 results, featuring a 15% year-over-year increase in revenues to $965 million. The company reported an operating income of $33 million and an adjusted EBITDA of $154 million. They also highlighted over $1.4 billion in global commercial wins and a corporate credit rating upgrade.

Weatherford International plc announced its Q3 2021 results with revenues of $945 million, a 5% sequential increase. Operating income totaled $71 million, and adjusted EBITDA reached $179 million, representing a 19% margin. The company generated $111 million in free cash flow and restructured its debt capital by redeeming $200 million of unsecured notes and issuing new senior secured notes.

Weatherford International plc announced its Q2 2021 results, with revenues of $903 million, a 9% sequential increase. The company reported an operating income of $25 million and a net loss of $78 million. Cash flow from operations was $46 million, and free cash flow totaled $48 million.

Weatherford International plc reported Q4 2020 revenues of $842 million, a 4% sequential increase. The company's operating loss was $107 million, with an adjusted EBITDA of $98 million. Cash flow from operating activities was $22 million, and unlevered free cash flow was $95 million. The company ended the year with $1.3 billion in total cash.

Weatherford International plc reported revenues of $807 million for Q3 2020, a 2% sequential decrease and a 39% year-over-year decrease. The company's operating loss was $60 million, and the net loss was $174 million. However, the company achieved $107 million in unlevered free cash flow and total cash of $1.3 billion, enhanced by cost savings and financing transactions.

Weatherford International plc announced its Q2 2020 results, with revenues of $821 million, a 32% sequential decline and a 37% year-on-year decrease. The company reported an operating loss of $497 million and a net loss of $581 million. However, it improved its liquidity with $771 million available and generated $108 million in unlevered free cash flow. The company is expanding its cost savings plan to $650 million in 2020.

Weatherford International plc reported a GAAP revenue of $1.2 billion for Q1 2020, a 2% sequential decrease and a 10% year-on-year decrease. The company faced a net loss of $966 million, compared to a $5.3 billion net income in Q4 2019 and a $481 million net loss in Q1 2019. Despite these challenges, the adjusted EBITDA grew by 15% sequentially and 39% year-on-year, and the company was free cash flow neutral.

Weatherford's Q4 2019 results were impacted by industry challenges, including activity reductions in North America and the economic crisis in Argentina. The company's combined revenues for the quarter were $1.2 billion. Despite these challenges, the company is focused on improving its business and sees meaningful opportunities for long-term growth.