Core Insights - Weatherford International plc has signed an agreement with Amazon Web Services (AWS) to enhance its digital capabilities and drive innovation in the energy sector [1][5] - AWS will be the preferred cloud provider for Weatherford, facilitating the migration and modernization of its software and hardware suite, including the Modern Edge Platform and CygNet control system [2][3] - The collaboration aims to develop next-generation technologies and enhance Weatherford's Unified Data Model, allowing for better integration and analysis of multi-asset data [3] - The WFRD Software Launchpad will be improved, providing customers with access to various applications while maintaining control over their data [4] Company Overview - Weatherford delivers innovative energy services that combine proven technologies with advanced digitalization to maximize value and return on investment [6] - The company operates in approximately 75 countries with around 18,000 team members from over 110 nationalities [6]

Weatherford International (WFRD) Q3 2021 Earnings Call April 29, 2025 04:48 PM ET Speaker0 Ladies and gentlemen, thank you for standing by. Welcome to the Weatherford International Third Quarter twenty twenty one Earnings Call. All participants will be in a listen only mode. After today's presentation, there will be an opportunity to ask questions. As a reminder, today's event is being recorded. I would now like to turn the conference over to Muhammad Tabawala, Director, Investor Relations and M and A. Sir, ...

Financial Data and Key Metrics Changes - Revenue for Q1 2021 was $832 million, down 1% sequentially and 32% year-over-year, primarily due to increased drilling and intervention services in North America offset by declines in the Middle East, Asia, and North Africa [36][40] - Adjusted EBITDA was $102 million, with a margin of 12%, reflecting a 60 basis point improvement sequentially despite a 13% decline in product revenues [37][39] - Free cash flow was $70 million, up $72 million year-over-year, with a cash balance of $1.3 billion, an increase of $58 million sequentially [11][50][49] Business Line Data and Key Metrics Changes - In North America, revenues grew 6% sequentially, driven by a 14% increase in drilling evaluation and intervention services [40] - Latin America saw a 3% sequential revenue growth, with DEI revenue growth of 8% offsetting declines in completion and production [42] - Eastern Hemisphere revenues declined 6% sequentially, with a 17% drop in completion and production revenues, while DEI revenues increased by 5% [44][46] Market Data and Key Metrics Changes - North America experienced a meaningful increase in activity, with rig counts improving, while international logistics disruptions continued to impact operations [29][30] - There are signs of pent-up demand in key markets like the Middle East and Latin America, although the timing of recovery may extend into 2022 [31][32] Company Strategy and Development Direction - The company aims to enhance commercial traction of new technologies, leverage scale for growth, and focus on digital transformation and energy transition [26][60] - The strategy includes exiting uncompetitive markets and focusing on profitable product lines, particularly in North America [29][87] - The company is also investing in geothermal energy and carbon capture technologies as part of its long-term strategic focus [67][104] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving sustainable profitability and free cash flow generation, emphasizing the importance of structural changes to drive profitability at flat activity levels [59][86] - The company remains cautious about the ongoing impacts of COVID-19 on international operations and logistics, which may affect growth in the near term [54][88] Other Important Information - The company filed a registration statement with the SEC to relist on NASDAQ under the ticker symbol WFRD, expected to be completed in Q2 2021 [12][52] - Capital expenditures for 2021 are projected to be between $100 million and $130 million, with a focus on investments that provide clear returns [56][97] Q&A Session Summary Question: Potential big retenders from National Oil Companies - Management noted that most activity is in the Middle East, with product line-specific tenders expected to provide opportunities for market share recovery [72][73] Question: Pricing for service companies in the Middle East - Management acknowledged tighter capacity and potential for price increases, but emphasized the importance of maintaining margins over chasing volume [75][78] Question: Outlook for Managed Pressure Drilling (MPD) business - Management expressed excitement about MPD, noting its current adoption rate is below 10%, with significant growth potential in the coming years [80][82] Question: Guidance for Q2 2021 - Management indicated that Q2 revenues are expected to be flat compared to Q1, with a focus on profitability at current activity levels [57][86] Question: Current status of credit facility discussions - Management is in dialogue with banking partners, noting improved sentiment towards the oilfield services market, but no timeline for finalizing a facility yet [91][92] Question: Working capital expectations for the year - Management expects working capital to be a slight positive for the year, but not as favorable as in 2020 [100][101]

Financial Data and Key Metrics Changes - Consolidated revenues for Q2 2021 were $903 million, representing a 9% sequential increase and a 10% year-on-year increase, driven primarily by a 12% sequential increase in service revenues [21][20] - Adjusted EBITDA for the quarter was $136 million, equating to an adjusted EBITDA margin of 15%, an improvement of 280 basis points sequentially and 544 basis points year-on-year [22][20] - Free cash flow was $48 million, improving by $50 million year-on-year, despite a larger portion of interest obligations [25][22] Business Line Data and Key Metrics Changes - Managed Pressure Drilling (MPD) technology continued to gain traction, with significant contract wins in Brazil and Asia, showcasing the company's leadership in this area [10][11] - In North America, revenues increased by 3% sequentially, primarily due to increased activity in the United States, despite a seasonal decline in Canada [23][20] - The Eastern Hemisphere revenues were $478 million, an 8% sequential increase, with notable growth in the Middle East and North Africa [24][20] Market Data and Key Metrics Changes - The company observed an increase in tendering activity, particularly in the Middle East, North Africa, and Latin America, with over 75% of its business coming from international markets [18][17] - North America experienced a rebound in activity, although growth was tempered by seasonal factors in Canada [17][20] Company Strategy and Development Direction - The company aims to maintain a focus on profitable growth in North America while improving margins, having exited the drilling services and wellhead product lines in the U.S. [17][20] - There is a strong emphasis on digitalization and energy transition, with ongoing projects in data management and production automation solutions [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth scenario for 2022, anticipating continued moderate increases in activity in the second half of 2021 [17][29] - The company expects second half revenues to increase by mid to high single digits from the first half of 2021 results, with adjusted EBITDA margins improving further [29][30] Other Important Information - The company completed its listing on the NASDAQ under the ticker symbol WFRD, which is expected to enhance long-term shareholder value [28][27] - The S&P credit ratings on the company's senior secured notes were upgraded, reflecting improvements in the macro backdrop for oilfield services [27][20] Q&A Session Summary Question: Clarity on beneficial one-offs affecting margins and areas of business that exceeded guidance - Management clarified that the $10 million of one-time credits included a workers' comp settlement and settlements related to lost in hole disputes, which were excluded from the baseline moving forward [40][39] Question: Expectations for margins in the back half of the year - Management indicated that they are targeting to exit the year with margins around 14.5%, with a modest step-up expected for 2022 [44][45] Question: North America's sequential growth compared to competitors - Management explained that the company's focus on profitable growth and the exit from certain product lines contributed to the differences in growth rates compared to competitors [50][49] Question: Details on capital expenditures and expected increases - Management noted that the first half focused on asset redeployment and utilization, with plans to increase capital expenditures in the second half to support market-leading product lines [54][53] Question: Update on capital structure and ABL discussions - Management reported improved market conditions and constructive dialogues with banks regarding potential refinancing and addressing capital structure challenges [56][55]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 (Mark One) Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________________________to __________________________________ Commission file number 001-36504 Weatherford International plc (Exact Name of Registra ...

Weatherford International plc (NASDAQ:WFRD) Q1 2025 Earnings Conference Call April 23, 2025 8:30 AM ET Company Participants Luke Lemoine - SVP, Corporate Development and IR Girish Saligram - President and CEO Anuj Dhruv - EVP and CFO Conference Call Participants David Anderson - Barclays Scott Gruber - Citigroup Saurabh Pant - Bank of America Jim Rollyson - Raymond James Sean Mitchell - Daniel Energy Partners Doug Becker - Capital One Derek Podhaizer - Piper Sandler Atidrip Modak - Goldman Sachs Operator Go ...

Weatherford International (WFRD) Q1 2025 Earnings Call April 23, 2025 08:30 AM ET Company Participants Luke Lemoine - SVP - Corporate Development & IRGirish Saligram - President & CEOAnuj Dhruv - EVP & CFOJ. David Anderson - Managing DirectorScott Gruber - Director - Oilfield Services & Equipment ResearchSean Mitchell - Managing PartnerAtidrip Modak - Vice President - Energy Services & E&Ps Conference Call Participants Saurabh Pant - AnalystJim Rollyson - Director & Equity Research AnalystDouglas Becker - A ...

Weatherford (WFRD) came out with quarterly earnings of $1.03 per share, beating the Zacks Consensus Estimate of $0.89 per share. This compares to earnings of $1.50 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 15.73%. A quarter ago, it was expected that this oilfield service company would post earnings of $1.34 per share when it actually produced earnings of $1.50, delivering a surprise of 11.94%.Over the last four quarters, ...

HOUSTON, April 22, 2025 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ:WFRD) ("Weatherford" or the "Company") today announced Anuj Dhruv has been appointed as Executive Vice President and Chief Financial Officer. Girish Saligram, President and Chief Executive Officer of Weatherford, commented, "I am pleased to welcome Anuj to Weatherford. With fresh perspective and proven expertise, Anuj will enhance our leadership team and help position Weatherford to lead confidently through the next phase of o ...

Exhibit 99.1 News Release Weatherford Announces First Quarter 2025 Results *Non-GAAP - refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled • First quarter revenue of $1,193 million decreased 12% year-over-year • First quarter operating income of $142 million decreased 39% year-over-year • First quarter net income of $76 million, a 6.4% margin, decreased 32% year-over-year • First quarter adjusted EBITDA* of $253 million, a 21.2% margin, decrease ...