Revenue Performance - Revenues for the three and six months ended June 30, 2023, were $1.3 billion and $2.5 billion, representing increases of 20% and 23% compared to $1.1 billion and $2.0 billion for the same periods in 2022[72]. - Product revenues increased by 18% and service revenues increased by 21% year-over-year in the second quarter, with Drilling and Evaluation, Well Construction and Completions, and Production and Intervention contributing 37%, 27%, and 10% to the revenue increase, respectively[72]. - Approximately 80% of the revenue increase was attributed to higher customer demand driven by increased investment in oil and gas production capacity globally, consistent with a 9% and 12% year-over-year increase in global rig counts for the three and six months ended June 30, respectively[73]. - Total revenues for Q2 2023 were $1,274 million, a 20% increase from $1,064 million in Q2 2022, and $2,460 million for the first half of 2023, up 23% from $2,002 million year-over-year[88]. Cost and Expenses - Cost of products and services for the three and six months ended June 30, 2023, was $847 million and $1.6 billion, reflecting increases of 12% and 14% compared to $756 million and $1.4 billion in the same periods of 2022[76]. - Selling, general, administrative, and research and development costs were $225 million and $441 million for the three and six months ended June 30, 2023, representing increases of 3% and 6% compared to $218 million and $417 million in the same periods of 2022[77]. - Interest expense, net decreased to $31 million and $62 million for the three and six months ended June 30, 2023, from $48 million and $96 million in the same periods of 2022, primarily due to reduced long-term debt[78]. Profitability - Operating income for Q2 2023 was $201 million, a 93% increase from $104 million in Q2 2022, and $386 million for the first half of 2023, up 216% from $122 million year-over-year[88]. - DRE segment adjusted EBITDA margin improved to 26.9% in Q2 2023 from 21.8% in Q2 2022, and to 27.9% in the first half of 2023 from 21.0% year-over-year[92]. - WCC segment adjusted EBITDA margin increased to 24.8% in Q2 2023 from 17.5% in Q2 2022, and to 23.8% in the first half of 2023 from 18.4% year-over-year[94]. Cash Flow and Financial Position - Cash provided by operating activities was $285 million for the first half of 2023, compared to a cash outflow of $4 million in the same period of 2022[108]. - Cash used in investing activities was $122 million for the first half of 2023, primarily for capital expenditures of $100 million[111]. - As of June 30, 2023, the company had cash and cash equivalents of $787 million, down from $910 million at the end of 2022[106]. - Cash used in financing activities for the six months ended June 30, 2023, was $297 million, primarily for repayments and repurchases of long-term debt ($230 million) and tax remittances on equity awards vested ($54 million)[113]. - The company anticipates sufficient cash from operations and cash on hand to meet both short-term and long-term financial obligations[115]. Market and Economic Factors - The average oil price for WTI was $73.76 per barrel in Q2 2023, down from $108.72 in Q2 2022, while Brent averaged $78.32 per barrel, down from $113.54[67]. - The average natural gas price at Henry Hub was $2.16 per million British thermal units in Q2 2023, significantly lower than $7.48 in Q2 2022[67]. - Revenues from Russia accounted for approximately 6% of total revenues for both the three and six months ended June 30, 2023, and June 30, 2022[70]. Strategic Initiatives - The company expects to continue investing in research and development for newer technologies and improvements to technology platforms[116]. - The company may consider additional Blue Chip Swap transactions in the future to safeguard cash from Argentine inflation and devaluation[119]. - Capital spending for 2023 is projected to be between 4-5% of total year revenues, with operating lease payments expected to be approximately $65 million and finance lease payments around $20 million[118]. Credit and Receivables - As of June 30, 2023, net accounts receivables in Mexico accounted for 28% of total net accounts receivables, up from 21% as of December 31, 2022[122]. - During the three and six months ended June 30, 2023, the company sold accounts receivable balances of $63 million and $109 million, receiving cash proceeds of $61 million and $103 million, respectively[124]. - The company had $385 million of letters of credit outstanding as of June 30, 2023, compared to $395 million as of December 31, 2022[128]. Credit Ratings - The company maintains a stable outlook with credit ratings of B from Standard and Poor's and B2 from Moody's as of June 30, 2023[126].

Weatherford International plc (NASDAQ:WFRD) Q1 2023 Earnings Conference Call April 26, 2023 10:00 AM ET Company Participants Mohammed Topiwala – Director-Investor Relations and M&A Girish Saligram – President and Chief Executive Officer Arun Mitra – Executive Vice President and Chie Financial Officer Conference Call Participants Luke Lemoine – Piper Sandler Ati Modak – Goldman Sachs Kurt Hallead – RBC Doug Becker – Capital One Operator Ladies and gentlemen, thank you for standing by. Welcome to the Weatherf ...

INVESTOR PRESENTATION WEATHERFORD INTERNATIONAL PLC Q1 | 2023 2 Q1'23 EARNINGS PRESENTATION DISCLAIMER This presentation contains projections and forward-looking statements concerning, among other things, the Company's quarterly revenues, operating income and losses, segment adjusted EBITDA, 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 general ...

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, 2023 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 ...

INVESTOR PRESENTATION WEATHERFORD INTERNATIONAL PLC Q4 | 2022 2 Q4'22 EARNINGS PRESENTATION DISCLAIMER This presentation contains projections and forward-looking statements concerning, among other things, the Company's quarterly and full-year revenues, operating income and losses, segment adjusted EBITDA, adjusted EBITDA, free cash flow, forecasts or expectations regarding business outlook, prospects for its operations, capital expenditures, expectations regarding future financial results, and are also gene ...

Weatherford International PLC, Inc. (NASDAQ:WFRD) Q4 2022 Earnings Conference Call February 8, 2023 9:00 AM ET Company Participants Mohammed Topiwala - Director, IR and M&A Girishchandra Saligram - President, CEO & Director Desmond Mills - SVP & CAO Arunava Mitra - EVP & CFO Conference Call Participants James West - Evercore ISI Luke Lemoine - Piper Sandler & Co. Atidrip Modak - Goldman Sachs Group James Hubbard - Deutsche Bank Gregg Brody - Bank of America Merrill Lynch Operator Ladies and gentlemen, thank ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ☐ 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 registrant as specified in ...

Financial Data and Key Metrics Changes - Third quarter 2022 revenue was $1.12 billion, up 5% sequentially and 19% year-over-year, driven by higher drilling and evaluation activity [7][24] - Operating income was $121 million, compared to $104 million in Q2 2022 and $71 million in Q3 2021 [24] - Net income was $28 million, compared to $6 million in Q2 2022 and a net loss of $95 million in Q3 2021 [25] - Adjusted EBITDA was $214 million, an increase of 15% sequentially and 20% year-over-year, with adjusted EBITDA margins at 19.1%, up over 160 basis points sequentially [25][31] Business Line Data and Key Metrics Changes - Drilling and Evaluation (DRE) revenues were $348 million, up 10% sequentially, with segment adjusted EBITDA of $85 million, an increase of 23% sequentially [26][27] - Well Construction and Completion (WCC) revenues were $391 million, up 2% sequentially, with segment adjusted EBITDA of $78 million, an increase of 16% sequentially [28] - Product and Intervention (PRI) revenues were $357 million, up 3% sequentially, but segment adjusted EBITDA decreased by 3% to $66 million due to a change in product mix [29] Market Data and Key Metrics Changes - North America business grew 11%, while international growth was 3% [7] - The company expects moderate growth in 2023, with strong fundamentals in the Middle East and Latin America [20][41] Company Strategy and Development Direction - The company is focused on margin expansion, free cash flow generation, and operational improvements, with a goal of achieving high-teens EBITDA margins [8][40] - A new business model has been developed to leverage technology differentiation and improve customer outcomes [17][38] - The company is committed to addressing structural issues and improving capital allocation decisions [57][69] Management's Comments on Operating Environment and Future Outlook - Management acknowledges inflationary pressures and supply chain bottlenecks but remains confident in the ability to deliver margin expansion and growth [8][19] - The outlook for 2023 includes expectations of double-digit revenue growth and continued margin expansion [41][42] Other Important Information - The company generated $133 million in free cash flow in Q3 2022, bringing year-to-date free cash flow to $128 million [10][31] - A new credit facility was established, allowing for improved liquidity and flexibility in capital allocation [32][33] Q&A Session Summary Question: How much of the recent awards are incremental versus extensions? - Management indicated that the recent awards are a mix of both, with many being extensions but with increased share and margins due to better costs and pricing [45][46] Question: How do supply chain issues affect growth next year? - Management stated that they do not foresee supply chain issues constraining growth, emphasizing a targeted approach to capital allocation [60][62] Question: What are the capital allocation priorities moving forward? - Management highlighted a focus on operational flexibility, optimizing working capital, and potential returns to shareholders in the future [56][57] Question: Any updates on operations in Russia? - Management confirmed that there are no changes in operations in Russia, maintaining the previously stated position [70] Question: Will OPEC production cuts impact long-term decisions? - Management believes that OPEC decisions will not significantly impact long-term investment plans, citing ongoing investment in the Middle East [71]

INVESTOR PRESENTATION WEATHERFORD INTERNATIONAL PLC Q3 | 2022 2 Q3'22 EARNINGS PRESENTATION DISCLAIMER This presentation contains projections and forward-looking statements concerning, among other things, the Company's quarterly and full-year revenues, operating income and losses, segment adjusted EBITDA, adjusted EBITDA, free cash flow, forecasts or expectations regarding business outlook, prospects for its operations, capital expenditures, expectations regarding future financial results, and are also gene ...

Financial Performance - Consolidated revenues for the three and nine months ended September 30, 2022, were $1.1 billion and $3.1 billion, representing increases of 19% and 16% year-over-year, driven by increased demand across all segments [78]. - Total revenues for the three months ended September 30, 2022, were $1.12 billion, an increase of $175 million or 19% compared to $945 million in the same period of 2021 [92]. - Segment revenues for Drilling and Evaluation (DRE) were $348 million for the three months ended September 30, 2022, up $70 million or 25% year-over-year [93]. - Well Construction and Completions (WCC) revenues reached $391 million for the three months ended September 30, 2022, an increase of $46 million or 13% compared to the same period in 2021 [94]. - Production and Intervention (PRI) revenues were $357 million for the three months ended September 30, 2022, reflecting a $65 million or 22% increase year-over-year [95]. - Segment adjusted EBITDA for the three months ended September 30, 2022, was $229 million, up $37 million or 19% from $192 million in the same period of 2021 [97]. - DRE segment adjusted EBITDA margins improved to 24.4% for the three months ended September 30, 2022, compared to 20.1% in the same period of 2021, an increase of 430 basis points [98]. Cost and Expenses - Cost of products and services for the same periods were $775 million and $2.2 billion, reflecting increases of $89 million (13%) and $214 million (11%) year-over-year, with costs as a percentage of revenues improving to 69% and 71% from 73% and 75% in the prior year [79]. - Selling, general, administrative, and research and development costs were $224 million and $641 million, up 14% and 4% year-over-year, with these costs as a percentage of revenues improving to 20% and 21% from 21% and 23% in the prior year [80]. Market Conditions - Average oil prices for WTI and Brent were $93.18 and $100.72 per barrel for the three months ended September 30, 2022, compared to $70.62 and $73.47 in the same period of 2021, indicating significant price increases [75]. - Average natural gas prices at Henry Hub were $7.99 per million British thermal units for the three months ended September 30, 2022, compared to $4.36 in the same period of 2021, reflecting a substantial rise [75]. - Rig count in North America increased to 960 for the three months ended September 30, 2022, from 647 in the same period of 2021, while international rig count rose to 857 from 772 [77]. Future Outlook - The company anticipates continued revenue growth for the full year 2022, driven by improving customer activity levels and positive macroeconomic conditions [68]. - Long-term energy demand is expected to rise, necessitating more advanced technology from the energy service industry, with the company focused on delivering cost-efficient solutions to meet customer needs [72]. - The company aims to deliver innovative energy services that integrate advanced digitalization and proven technologies to maximize value and return on investment [61]. Cash Flow and Liquidity - Total cash provided by operating activities was $156 million for the nine months ended September 30, 2022, compared to $234 million in the same period of 2021 [106]. - Cash used in investing activities was $22 million for the nine months ended September 30, 2022, primarily for capital expenditures of $83 million [108]. - Cash used in financing activities was $89 million for the nine months ended September 30, 2022, which included $62 million for repayments of long-term debt [110]. - As of September 30, 2022, the company had cash and cash equivalents of $933 million, compared to $951 million at December 31, 2021 [104]. - The company anticipates ongoing cash requirements for capital expenditures, working capital, interest payments, and restructuring costs as business activity rises [116]. - The company has approximately $163 million in cash and cash equivalents that cannot be immediately repatriated due to regulations in various countries [119]. Debt and Financing - The company's outstanding debt included $250 million in Exit Notes due 2024, $500 million in 2028 Senior Secured Notes, and $1.6 billion in 2030 Senior Notes [117]. - The company expects to make $213 million in interest payments in 2022, with approximately $198 million in annual interest payments until the maturity of long-term debt [118]. - As of September 30, 2022, the company had approximately $163 million in outstanding letters of credit under the LC Agreement, with an availability of $52 million [113]. - The company had surety bonds outstanding of $287 million as of September 30, 2022, which could impact available liquidity if called [127]. - Moody's corporate family rating is B2, while Standard and Poor's ratings are B- for corporate family and senior unsecured notes, with stable outlooks [119]. Impact of External Factors - The company is closely monitoring the impact of the Russia-Ukraine conflict, which has resulted in 6%-7% of total revenues being derived from Russia, posing potential risks to revenue and asset valuations [71].