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Mar 31, 2024
Weatherford Q1 2024 Earnings Report
Weatherford's Q1 2024 earnings were announced, revealing revenue growth and increased profitability.
Key Takeaways
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.
Revenue increased 15% year-over-year, driven by international growth.
Operating income increased 26% year-over-year.
Net income increased 56% year-over-year.
Adjusted EBITDA margin reached the highest level in over 15 years.
Weatherford
Weatherford
Weatherford Revenue by Segment
Weatherford Revenue by Geographic Location
Forward Guidance
Weatherford expects full year adjusted EBITDA margin to hit 25% in 2024 and reaffirmed their previous revenue guidance.