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Dec 31, 2022
Weatherford Q4 2022 Earnings Report
Weatherford's Q4 2022 results showcased significant growth and profitability improvements.
Key Takeaways
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.
Revenues increased by 25% year-over-year, reaching $1,209 million.
Operating income surged by 412% year-over-year to $169 million.
Net income improved to $72 million, compared to a net loss in the previous year.
Free cash flow reached $171 million, demonstrating strong financial health.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Weatherford anticipates full year 2023 revenue to grow by low double digits to mid-teens year-over-year and for EBITDA margins to expand at least 100 basis points year-over-year.
Positive Outlook
- Full year 2023 revenue is expected to grow by low double digits to mid-teens year-over-year.
- EBITDA margins are projected to expand at least 100 basis points year-over-year.
- The company is shifting from a turnaround phase to a value creating engine.
- Focus remains on margins, cash flow, and positioning the company for long-term success.
- New contracts, technology advancements, and partnerships are expected to impact future performance.
Challenges Ahead
- The sector faces continued inflationary and geopolitical headwinds.
- There are still opportunities to drive additional efficiencies in structure and processes.
- The company's performance is subject to global political, economic, and market conditions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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