HOUSTON, July 28, 2025 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") today announced it has been awarded a significant contract to deliver Managed Pressure Drilling (MPD) services for the Trion project, a deepwater oil production project in Mexico operated by Woodside Petróleo Operaciones de México, S. de R.L. de C.V. The multi-year contract includes MPD services for an initial 8 wells with the potential to expand to 24 wells. The award reinforces Weatherf ...

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 June 30, 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 Registran ...

Financial Data and Key Metrics Changes - The second quarter results were in line with expectations despite significant market headwinds, with adjusted EBITDA margins at 21.1%, slightly declining from Q1 [7][11] - Adjusted free cash flow was $79 million, with a free cash flow conversion rate of 31.1%, up from 26.1% in Q1 [21][24] - The company has paid four quarterly dividends of $0.25 per share and repurchased approximately $186 million worth of shares over the past four quarters [11][24] Business Line Data and Key Metrics Changes - North America and Latin America revenues were down sequentially, with North America affected by seasonal spring breakup in Canada and Latin America impacted by Argentina divestitures [9][10] - The ESSR region saw growth due to project startups in Europe, while the Middle East and North Africa region showed noteworthy performance despite a softening market in Saudi Arabia [10][12] - The company expects a decline in revenues for 2025, with North America projected to decline by high single digits and international revenues expected to decline low double to mid double digits [19][28] Market Data and Key Metrics Changes - The overall international market has softened, with increased caution and a slowdown in customer spending due to stable commodity prices and trade discussions causing uncertainty [14][15] - The rig count in Saudi Arabia has declined, affecting the market dynamics, but the company believes it remains underpenetrated in several businesses [36][37] - The U.S. Land market has been challenging, with pricing pressure noted, particularly in the service-related segments [82] Company Strategy and Development Direction - The company is focused on defending margins and maximizing cash generation while adapting to evolving market conditions [29][31] - A multiyear cost optimization program is in place to achieve sustainable productivity gains through technology and lean processes [31] - The company is exploring M&A opportunities, particularly in well construction and production segments, with a focus on value creation through cash flow accretion [73][75] Management's Comments on Operating Environment and Future Outlook - Management anticipates market headwinds will persist for at least another twelve months, with a potential recovery not expected until the second half of 2026 [16][39] - The company has reduced headcount by over 1,500 and lowered annualized personnel expenses by more than $125 million since 2024 [17][18] - Despite challenges, management remains optimistic about the company's future, emphasizing a strong balance sheet and commitment to shareholder returns [30][31] Other Important Information - The company has approximately $1 billion in cash and restricted cash, with total liquidity at $1.3 billion, the highest level since emergence [25][92] - Capital expenditures were $54 million in Q2, down from $77 million in Q1, with expectations for further declines [24][28] - The company is committed to maintaining net working capital efficiency levels at 25% or better [21] Q&A Session Summary Question: Insights on Saudi Arabia's market transition - Management acknowledged the softness in the Saudi market but highlighted the company's underpenetration in several businesses and strong execution [36][37] Question: Clarification on Q4 guidance - Management indicated that the Q4 guidance includes expected seasonal sales and project startups, despite uncertainties due to tariffs [44][46] Question: U.S. Land market challenges - Management noted a steady decline in U.S. Land, with a focus on production products and the impact of tariffs on future performance [51][55] Question: Stability in Mexico's market - Management expressed cautious optimism about stability in Mexico, with expectations for a ramp in activity levels in the second half of the year [60][66] Question: M&A opportunities and balance sheet strategy - Management confirmed a robust pipeline for M&A opportunities, focusing on strategic fits that create value, while maintaining a strong balance sheet [73][75] Question: Pricing pressure in various regions - Management identified North America as experiencing significant pricing pressure, particularly in service businesses, while remaining focused on maintaining margins [82]

Financial Data and Key Metrics Changes - The company reported adjusted EBITDA margins for Q2 at 21.1%, slightly declining relative to Q1 [9] - Adjusted free cash flow was $79 million in Q2, with a free cash flow conversion rate of 31.1%, up from 26.1% in Q1 [20] - The company has paid four quarterly dividends of $0.25 per share and repurchased approximately $186 million worth of shares over the past four quarters [10] Business Line Data and Key Metrics Changes - North America and Latin America revenues were down sequentially, with North America affected by seasonal spring breakup in Canada and Latin America impacted by Argentina divestitures [7] - The ESSR region saw growth due to project startups in Europe, further amplified by foreign exchange [8] - The company expects a decline in international revenues by low double to mid double digits for 2025, adjusting for Mexico activity declines and Argentina divestitures [17] Market Data and Key Metrics Changes - The overall international market has softened over the past year, with expectations of continued pressure into 2026 [13] - The Kingdom of Saudi Arabia market has softened, with a decline in rig count affecting performance [36] - The company anticipates sluggish activity levels in 2025 and 2026 due to global trade reductions and increased supply [15] Company Strategy and Development Direction - The company is focused on defending margins and maximizing cash generation while adapting to evolving market conditions [29] - A multiyear cost optimization program is in place to achieve sustainable productivity gains through technology and lean processes [31] - The company is exploring M&A opportunities, particularly in well construction and production segments, with a focus on value creation [73] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate market disruptions, citing a strong balance sheet and liquidity of $1.3 billion [30] - The company expects continued market headwinds for at least another twelve months, with a potential recovery in the second half of 2026 [15] - Management remains hopeful for a slight uptick in Q4 but acknowledges the broader slowdown [25] Other Important Information - The company has reduced its headcount by over 1,500 and lowered annualized personnel expenses by more than $125 million since 2024 [16] - Capital expenditures (CapEx) were $54 million in Q2, down from $77 million in Q1, with expectations for further declines [23] - The company has a net leverage ratio of less than 0.5 times and approximately $1 billion in cash and restricted cash [24] Q&A Session Summary Question: Insights on Saudi Arabia's market transition - Management noted a steady decline in rig count and emphasized the importance of technology introduction and strong execution to drive performance [36][38] Question: Clarification on Q4 guidance - Management explained that the Q4 guidance includes expected seasonal sales and project startups, although year-end sales may be muted due to uncertainty [46][47] Question: U.S. Land market challenges - Management acknowledged a steady decline in U.S. Land, primarily driven by tariff impacts, and emphasized a focus on defending margins [52][54] Question: Stability in Mexico's market - Management expressed cautious optimism about stability in Mexico, with expectations for a ramp in activity levels in the second half of the year [63][66] Question: M&A opportunities and balance sheet strategy - Management highlighted a robust pipeline for M&A opportunities, focusing on strategic fits that create value through cash flow accretion [73][75]

INVESTOR PRESENTATION Q2'25 Weatherford International PLC Weatherford International Plc. 1 Q2'25 FINANCIAL RESULTS - HIGHLIGHTS ADJ. FREE CASH FLOW* $1,204 million $254 million $79 million 1% Sqtly. 14% YoY Flat Sqtly. 30% YoY 31.1% Conversion (on Adj. EBITDA*) 21.1% 11 bps Sqtly. 488 bps YoY ADJ. EBITDA* REVENUE CAPITAL ALLOCATION Repurchased $27 million of 8.625% Senior Notes due 2030 in Q2'25 Disclaimer This presentation contains projections and forward-looking statements concerning, among other things, ...

Core Viewpoint - Weatherford (WFRD) reported quarterly earnings of $1.87 per share, significantly exceeding the Zacks Consensus Estimate of $0.97 per share, marking an earnings surprise of +92.78% [1][2] Financial Performance - The company achieved revenues of $1.2 billion for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 2.94%, although this represents a decline from year-ago revenues of $1.41 billion [2] - Over the last four quarters, Weatherford has consistently surpassed consensus EPS estimates, achieving this four times [2] Stock Performance - Weatherford shares have declined approximately 25.4% since the beginning of the year, contrasting with the S&P 500's gain of 7.2% [3] - The stock currently holds a Zacks Rank 5 (Strong Sell), indicating expectations of underperformance in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.44 on revenues of $1.22 billion, and for the current fiscal year, it is $4.90 on revenues of $4.82 billion [7] - The trend of estimate revisions for Weatherford was unfavorable prior to the earnings release, which may impact future stock movements [6] Industry Context - The Oil and Gas - Field Services industry, to which Weatherford belongs, is currently ranked in the bottom 5% of over 250 Zacks industries, suggesting a challenging environment for stock performance [8]

Exhibit 99.1 News Release *Non-GAAP - refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled • Second quarter revenue of $1,204 million increased 1% sequentially • Second quarter operating income of $237 million increased 67% sequentially • Second quarter net income of $136 million increased 79% sequentially; net income margin of 11.3% • Second quarter adjusted EBITDA* of $254 million was flat sequentially; adjusted EBITDA margin* of 21.1% decrease ...

Second quarter revenue of $1,204 million increased 1% sequentiallySecond quarter operating income of $237 million increased 67% sequentiallySecond quarter net income of $136 million increased 79% sequentially; net income margin of 11.3%Second quarter adjusted EBITDA* of $254 million was flat sequentially; adjusted EBITDA margin* of 21.1% decreased 11 basis points sequentiallySecond quarter cash provided by operating activities of $128 million and adjusted free cash flow* of $79 millionRepurchased $27 millio ...

Core Insights - Weatherford International (NASDAQ: WFRD) is in a paradoxical position with solid fundamentals after years of restructuring [1] - The company has refocused its portfolio on high value-added services, demonstrating stable operating profitability and regular cash generation [1] - Financial leverage has improved, indicating a stronger financial position [1] Investment Approach - The investment approach combines macroeconomic analysis with valuation models, focusing on financial structure, free cash flow generation, and capital allocation discipline [1] - There is a particular interest in companies undergoing transformation or recovery, where the risk/reward profile is favorable over a 2–3 year horizon [1] - The aim is to publish in-depth investment theses on undervalued equities and special situation plays that may not be widely recognized by investors [1]

Group 1 - The company fulfills 3 out of 3 quality indicators and 0 out of 2 valuation indicators, resulting in a rating of 3/5 stars, which is typically insufficient for a strong investment thesis [2] - A valuation target of €140/share is established, indicating an attractive risk/reward-adjusted upside [2] - The company receives a "Hold" rating as of July 2025 based on the analysis [2] Group 2 - The company fulfills 3 out of 3 quality indicators and 1 out of 2 valuation indicators, leading to a rating of 4/5 stars, which supports a more favorable investment thesis [2] - A valuation target of €140/share is reiterated, suggesting a compelling risk/reward-adjusted upside [2] - The company is given a "Buy" rating as of July 2025 based on the improved indicators [2]