Loading...
•
Mar 31, 2023
Weatherford Q1 2023 Earnings Report
Reported a year-over-year revenue increase of 26% and operating income increase of 928%.
Key Takeaways
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.
Revenues of $1,186 million increased 26% year-over-year
Operating income of $185 million increased 928% year-over-year
Net income of $72 million increased 190% year-over-year; net income margin of 6.1%
Adjusted EBITDA of $269 million increased 78% year-over-year; adjusted EBITDA margin of 22.7%
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Weatherford expects overall revenue to grow by mid-teens year-over-year in 2023 and adjusted EBITDA margins to expand by at least 250 basis points year-over-year, resulting in higher adjusted free cash flow generation than 2022.
Positive Outlook
- Overall revenue to grow by mid-teens year-over-year in 2023.
- Adjusted EBITDA margins to expand by at least 250 basis points year-over-year.
- Higher adjusted free cash flow generation than 2022.
- Strong outlook for international activity continues to support a robust growth scenario.
- Spending pattern is more long-lasting and less prone to fluctuations in commodity prices compared to previous cycles.
Challenges Ahead
- Macro volatility driven by geopolitical events.
- Inflation.
- Recessionary threats.
- Potential softness in the North America market.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...