Weatherford Q4 2021 Earnings Report
Key Takeaways
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.
Revenues increased by 15% year-over-year reaching $965 million.
Operating income was $33 million, a significant improvement from the previous year's operating loss.
Adjusted EBITDA totaled $154 million with 16% adjusted EBITDA margins.
Over $1.4 billion of global commercial wins were secured with major IOCs and NOCs.
Weatherford
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Weatherford Revenue by Segment
Forward Guidance
Weatherford is entering 2022 with a growth and execution mindset, focused on further improving the Company’s fulfillment strategy, achieving profitable growth in the marketplace led by the strength of our portfolio, and building upon the incredible cost and cash successes of the last two years.
Positive Outlook
- Improving the Company's fulfillment strategy
- Achieving profitable growth in the marketplace
- Building upon cost and cash successes
- Directed growth trajectory
- Increasing earnings
Challenges Ahead
- Price and price volatility of oil and natural gas
- Extent or duration of business interruptions
- Demand for oil and gas and fluctuations in commodity prices associated with COVID-19 pandemic
- General global economic repercussions related to COVID-19 pandemic
- Macroeconomic outlook for the oil and gas industry