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Dec 31, 2024
Weatherford Q4 2024 Earnings Report
Weatherford reported a decrease in revenue and net income for the fourth quarter of 2024, while full-year revenue and net income increased.
Key Takeaways
Weatherford announced its fourth quarter and full year 2024 results, with Q4 revenue decreasing 5% sequentially and 2% year-over-year to $1,341 million, and net income falling 29% sequentially and 20% year-over-year to $112 million. Despite the challenging quarter, full year 2024 revenue increased 7% to $5,513 million and net income increased 21% to $506 million, driven by strong international growth and margin expansion.
Fourth quarter revenue decreased 5% sequentially and 2% year-over-year to $1,341 million.
Fourth quarter net income was $112 million, an 8.4% margin, decreasing 29% sequentially and 20% year-over-year.
Full year revenue increased 7% from prior year to $5,513 million, driven by international revenue growth of 10%.
Full year net income increased 21% from prior year to $506 million, achieving a 9.2% margin.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Weatherford anticipates continued strong cash flow generation in 2025, despite temporary activity reductions, and remains committed to achieving high 20s EBITDA margins in the coming years.
Positive Outlook
- Well-positioned to deliver another year of strong cash flow generation in 2025.
- Committed to achieving EBITDA margins in the high 20s over the next few years.
- Strong margin expansion and solid cash generation in 2024.
- Best safety record ever achieved in 2024.
- Industry's mid to long-term resilience is still believed to be strong.
Challenges Ahead
- Fourth quarter witnessed a significant drop in activity levels in Latin America.
- More cautious tone in a few key geographies during the fourth quarter.
- Temporary activity reduction is expected.
- The activity outlook continues to evolve, indicating potential uncertainties.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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