Company Performance - Weatherford reported quarterly earnings of $1.66 per share, missing the Zacks Consensus Estimate of $1.71 per share, but showing an increase from $1.12 per share a year ago [1] - The company posted revenues of $1.41 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 1.37%, compared to $1.27 billion in the same quarter last year [2] - Over the last four quarters, Weatherford has surpassed consensus EPS estimates three times [6] Stock Performance - Weatherford shares have increased approximately 35.2% since the beginning of the year, outperforming the S&P 500's gain of 16.7% [7] - The current consensus EPS estimate for the upcoming quarter is $1.80 on revenues of $1.47 billion, and for the current fiscal year, it is $7.10 on revenues of $5.79 billion [9] Industry Outlook - The Oil and Gas - Field Services industry, to which Weatherford belongs, is currently ranked in the bottom 9% of over 250 Zacks industries, indicating potential challenges ahead [5] - The estimate revisions trend for Weatherford is mixed, leading to a Zacks Rank 3 (Hold) for the stock, suggesting it is expected to perform in line with the market in the near future [13]

Weatherford Announces Second Quarter 2024 Results and Shareholder Return Program *Non-GAAP - refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled • Revenues of $1,405 million increased 3.5% sequentially and 10% year-over-year, driven by international revenue growth of 6% sequentially and 14% year-over-year • Operating income of $264 million increased 13% sequentially and 31% year-over-year • Net income of $125 million increased 12% sequentially a ...

Net Leverage* - Net Leverage* is a non-GAAP measure which is calculated by dividing by taking net debt* divided by adjusted EBITDA* for the trailing 12 months. Management believes the net leverage* is useful to understand our ability to repay and service our debt. Net leverage* should be considered in addition to, but not as a substitute for the individual components of above defined net debt* divided by consolidated net income attributable to Weatherford, and should be viewed in addition to the Company's r ...

Core Insights - Weatherford International plc reported strong financial results for Q2 2024, with revenues of $1,405 million, reflecting a 3.5% sequential increase and a 10% year-over-year growth [31][57] - The company anticipates mid-single-digit sequential revenue growth in the second half of the year, with adjusted EBITDA margins expected to exceed 25% for the full year [2][31] - Weatherford has initiated a shareholder return program, including a quarterly dividend of $0.25 per share and a $500 million share repurchase program over three years [4][32] Financial Performance - Adjusted EBITDA for Q2 2024 was $365 million, a 9% increase sequentially and a 25% increase year-over-year, with an adjusted EBITDA margin of 26.0% [31][57] - Net income for Q2 2024 was $125 million, representing a 12% sequential increase and a 52% year-over-year increase, with a net income margin of 8.9% [31][57] - Cash flows from operating activities were $150 million, with adjusted free cash flow of $96 million, marking a $14 million increase sequentially but a $76 million decrease year-over-year [6][31] Segment Performance - The Drilling & Evaluation (DRE) segment reported revenues of $427 million, a 1% sequential increase and an 8% year-over-year increase, driven by higher Managed Pressure Drilling activity [36][57] - The Well Construction and Completions (WCC) segment achieved revenues of $504 million, a 10% sequential increase and a 15% year-over-year increase, primarily due to increased activity in the Middle East/North Africa/Asia [11][38] - The Production and Intervention (PRI) segment generated revenues of $369 million, a 6% sequential increase and a 1% year-over-year increase, supported by higher activity in Middle East/North Africa/Asia [40][41] Geographic Performance - North America revenue decreased by 6% sequentially to $252 million, primarily due to seasonal declines in Canada [41] - International revenue increased by 6% sequentially to $1,153 million, with a 14% year-over-year growth, driven by strong performance in the Middle East/North Africa/Asia region [16][31] - The Middle East/North Africa/Asia region saw a revenue increase of 9% sequentially and 29% year-over-year, reaching $542 million [17][31] Operational Highlights - Weatherford secured multiple contracts, including a five-year contract for Directional Drilling services in Bahrain and a three-year contract for Tubular Running Services in the Malaysia-Thailand Joint Development Area [7] - The company launched ForeSite® EDGE 2.0, an IoT-enabled automation solution aimed at enhancing production optimization [34][38]

Charles M. Sledge, Chairman of the Weatherford Board of Directors, commented, "On behalf of the Board, we welcome Steve to Weatherford's Board of Directors. We are confident that Steve's wealth of experience managing leading digital commercial applications will be very valuable to our continued growth and innovation. We look forward to leveraging his insights and leadership as we continue our journey of delivering value to our shareholders." Mr. Beringhause served as a director for Meritor Inc. from Decembe ...

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, 2024 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 ...

y INVESTOR PRESENTATION Q1'24 WEATHERFORD INTERNATIONAL PLC 2 Weatherford International Plc. DISCLAIMER This presentation contains projections and forward-looking statements concerning, among other things, the Company's quarterly and full-year revenues, adjusted EBITDA*, adjusted EBITDA margin*, adjusted free cash flow*, net leverage*, forecasts or expectations regarding business outlook, prospects for its operations, capital expenditures, expectations regarding future financial results, and are also genera ...

Weatherford International plc (NASDAQ:WFRD) Q1 2024 Earnings Conference Call April 24, 2024 8:30 AM ET Company Participants Mohammed Topiwala - Vice President, Investor Relations and M&A Girish Saligram - President and Chief Executive Officer Arun Mitra - Executive Vice President and Chief Financial Officer Conference Call Participants Luke Lemoine - Piper Sandler James West - Evercore ISI Jim Rollyson - Raymond James Doug Becker - Capital One David Anderson - Barclays Ati Modak - Goldman Sachs Kurt Hallead ...

Financial Performance - First quarter 2024 revenue was $1,358 million, a 15% increase year-over-year, driven by international growth of 21%[2] - Operating income for the first quarter was $233 million, reflecting a 26% year-over-year increase[2] - Net income reached $112 million, with an 8.2% margin, marking a 56% increase year-over-year[2] - Adjusted EBITDA for the first quarter was $336 million, a 24.7% margin, up 25% year-over-year and the highest in over 15 years[2] - Total revenues for Q1 2024 were $1,358 million, a slight decrease from $1,362 million in Q4 2023 but an increase from $1,186 million in Q1 2023[35] - Net income for Q1 2024 was $123 million, down from $147 million in Q4 2023 but up from $81 million in Q1 2023[35] - Basic income per share for Q1 2024 was $1.54, compared to $1.94 in Q4 2023 and $1.00 in Q1 2023[35] - Adjusted EBITDA for Q1 2024 was $336 million, compared to $321 million in Q4 2023 and $269 million in Q1 2023, resulting in an adjusted EBITDA margin of 24.7%[50] - Operating income for Q1 2024 was $233 million, an increase from $216 million in Q4 2023 and $185 million in Q1 2023[50] Revenue Breakdown - International revenue for the first quarter was $1,091 million, a 21% increase year-over-year[23] - Middle East/North Africa/Asia revenue increased by $121 million, or 32% year-over-year, primarily due to increased integrated services and projects[24] - North America revenue decreased by 7% year-over-year to $267 million, primarily due to a slowdown in overall activity[22] Cash Flow and Debt Management - Cash provided by operating activities was $131 million, an increase of $47 million year-over-year[13] - Cash flows from operating activities in Q1 2024 were $131 million, significantly lower than $375 million in Q4 2023 but higher than $84 million in Q1 2023[40] - Total debt decreased to $1,730 million in Q1 2024 from $1,883 million in Q4 2023, while cash and cash equivalents were $824 million[53] - The company reduced debt by $1 billion in less than three years, achieving a net leverage of 0.6x, the lowest in over 15 years[7] - Net leverage ratio improved to 0.6x in Q1 2024 from 0.7x in Q4 2023, down from 1.3x in Q1 2023, indicating better debt management[53] - Adjusted free cash flow for Q1 2024 was $82 million, significantly lower than $315 million in Q4 2023 but up from $27 million in Q1 2023[50] Equity and Capital Expenditures - Total shareholders' equity increased to $1,100 million as of March 31, 2024, up from $922 million at the end of 2023[37] - Capital expenditures for property, plant, and equipment were $59 million in Q1 2024, down from $67 million in Q4 2023[50] Future Outlook and Strategic Initiatives - Full year adjusted EBITDA margin guidance was raised to 25% for 2024, up from previous expectations[8] - The company plans to continue investing in technology and digitalization to enhance operational efficiency and sustainability[31] - The company will host a conference call on April 24, 2024, to discuss its Q1 2024 results and future outlook[27] Workforce and Operations - Weatherford operates in approximately 75 countries with a workforce of about 18,800 employees[26]

INVESTOR PRESENTATION WEATHERFORD INTERNATIONAL PLC Q3 | 2023 2 Q3'23 EARNINGS PRESENTATION DISCLAIMER This news release contains projections and forward-looking statements concerning, among other things, the Company's quarterly and full-year revenues, adjusted EBITDA*, adjusted free cash flow*, forecasts or expectations regarding business outlook, prospects for its operations, capital expenditures, expectations regarding future financial results, and are also generally identified by the words "believe," "p ...