HOUSTON, March 25, 2025 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") announced the release of its 2024 Annual Update. The interactive and fully digital report shares the Company’s financial results and highlights new technology innovations, achievements, and progress in our strategic focus areas to create long-term value for employees, customers, and shareholders. Girish Saligram, President and Chief Executive Officer, commented, “2024 has been a year of ...

Core Viewpoint - Weatherford International plc will host a conference call on April 23, 2025, to discuss its first-quarter results for the period ending March 31, 2025 [1]. Group 1: Conference Call Details - The conference call is scheduled to begin at 8:30 a.m. Eastern Time (7:30 a.m. Central Time) [2]. - Participants can join the call via a live webcast or by dialing specific numbers for U.S. and international access [3]. - A telephonic replay of the conference call will be available until May 7, 2025, at 5:00 p.m. Eastern Time [4]. Group 2: Company Overview - Weatherford provides innovative energy services that combine proven technologies with advanced digitalization to enhance value and return on investment [5]. - The company operates in approximately 75 countries, employing around 19,000 team members from over 110 nationalities across 330 locations [5].

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, 2024 (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 2000 St. James Place, Houston, Texas 77056 (Address of principal executive offices) (Zip Code) Ireland 98-0606750 Registrant's telephone number, ...

Weatherford International plc (NASDAQ:WFRD) Q4 2024 Earnings Conference Call February 6, 2025 8:30 AM ET Company Participants Luke Lemoine - SVP, Corporate Development and IR Girish Saligram - President & CEO Arun Mitra - EVP & CFO Conference Call Participants Saurabh Pant - Bank of America Kurt Hallead - Benchmark Jim Rollyson - Raymond James Joshua Chan - Daniel Energy Partners Doug Becker - Capital One Derek Podhaizer - Piper Sandler Luke Lemoine - SVP, Corporate Development and IR Girish Saligram - Pres ...

Weatherford International plc (NASDAQ:WFRD) Q4 2024 Earnings Conference Call February 6, 2025 8:30 AM ET Company Participants Luke Lemoine - SVP, Corporate Development and IR Girish Saligram - President & CEO Arun Mitra - EVP & CFO Conference Call Participants Saurabh Pant - Bank of America Kurt Hallead - Benchmark Jim Rollyson - Raymond James Joshua Chan - Daniel Energy Partners Doug Becker - Capital One Derek Podhaizer - Piper Sandler Operator Good morning, and welcome to the Weatherford International Fou ...

INVESTOR PRESENTATION Q4'24 *Non-GAAP – refer to the section titled Appendix WEATHERFORD INTERNATIONAL PLC ©2025 Weatherford International plc. All rights reserved. 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*, shareholder return program, forecasts or expectations regarding busines ...

Core Viewpoint - Weatherford reported quarterly earnings of $1.50 per share, exceeding the Zacks Consensus Estimate of $1.34 per share, but down from $1.90 per share a year ago, indicating an earnings surprise of 11.94% [1][2] Financial Performance - The company posted revenues of $1.34 billion for the quarter ended December 2024, missing the Zacks Consensus Estimate by 1.08% and down from $1.36 billion year-over-year [2] - Over the last four quarters, Weatherford has surpassed consensus EPS estimates three times [2] Stock Performance - Weatherford shares have declined approximately 9.3% since the beginning of the year, contrasting with the S&P 500's gain of 2.7% [3] - The current Zacks Rank for Weatherford is 4 (Sell), indicating expected underperformance in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.14 on revenues of $1.28 billion, and for the current fiscal year, it is $6.49 on revenues of $5.54 billion [7] - The trend for estimate revisions ahead of the earnings release was unfavorable, which may impact future stock performance [6] Industry Context - The Oil and Gas - Field Services industry is currently ranked in the bottom 21% of over 250 Zacks industries, suggesting potential challenges for companies within this sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could affect investor sentiment [5]

Financial Performance - Fourth quarter revenue was $1,341 million, a decrease of 5% sequentially and 2% year-over-year; full year revenue increased by 7% to $5,513 million, driven by a 10% growth in international revenue[2] - Fourth quarter operating income was $198 million, down 19% sequentially and 8% year-over-year; full year operating income increased by 14% to $938 million[2] - Fourth quarter net income was $112 million with an 8.4% margin, a decrease of 29% sequentially and 20% year-over-year; full year net income increased by 21% to $506 million with a 9.2% margin[2] - Fourth quarter adjusted EBITDA was $326 million, a 24.3% margin, down 8% sequentially but up 2% year-over-year; full year adjusted EBITDA increased by 17% to $1,382 million[2] - Total revenues for the three months ended December 31, 2024, were $1,341 million, a decrease of 4.8% from $1,409 million in the previous quarter and an increase of 0.7% from $1,362 million in the same quarter last year[48] - Net income attributable to Weatherford for the three months ended December 31, 2024, was $112 million, down 28.7% from $157 million in the previous quarter and up 8.6% from $140 million in the same quarter last year[48] - Adjusted EBITDA for the DRE segment was $96 million for the three months ended December 31, 2024, compared to $111 million in the previous quarter and $97 million in the same quarter last year[48] - Revenues for Q4 2024 were $1,341 million, a slight decrease from $1,362 million in Q4 2023, while total revenues for the year increased to $5,513 million from $5,135 million[63] - Net income attributable to Weatherford for Q4 2024 was $112 million, down from $140 million in Q4 2023, with a net income margin of 8.4% compared to 10.3% in the previous year[63] - Adjusted EBITDA for Q4 2024 was $326 million, slightly lower than $321 million in Q4 2023, with an adjusted EBITDA margin of 24.3% compared to 23.6% in the prior year[63] Cash Flow and Shareholder Returns - Fourth quarter cash provided by operating activities was $249 million; full year cash provided by operating activities totaled $792 million[2] - Shareholder return for the fourth quarter was $67 million, including $18 million in dividends and $49 million in share repurchases; total shareholder return for the year was $135 million[2] - Cash flows from operating activities for the year ended December 31, 2024, were $792 million, compared to $832 million for the previous year, reflecting a decrease of 4.8%[53] - Net cash provided by operating activities for Q4 2024 was $249 million, down from $375 million in Q4 2023, while adjusted free cash flow was $162 million compared to $315 million in the same period last year[63] Segment Performance - Fourth quarter Drilling and Evaluation segment revenue was $398 million, a decrease of 9% sequentially but an increase of 4% year-over-year; full year revenue increased by 10% to $1,682 million[15][17] - Fourth quarter Well Construction and Completions segment revenue was $505 million, down 1% sequentially but up 5% year-over-year; full year revenue increased by 10% to $1,976 million[19][24] - Fourth quarter 2024 PRI revenue was $364 million, a decrease of $7 million, or 2% sequentially, and a decrease of $22 million, or 6% year-over-year[25] - Fourth quarter 2024 PRI segment adjusted EBITDA was $78 million, down $5 million, or 6% sequentially, and down $10 million, or 11% year-over-year[26] - Full year 2024 PRI revenues totaled $1,452 million, a decrease of $20 million, or 1% compared to 2023[27] - Full year 2024 PRI segment adjusted EBITDA was $319 million, a decrease of $4 million, or 1% compared to 2023[28] Regional Revenue Performance - North America revenue for Q4 2024 was $261 million, a decrease of $5 million, or 2% sequentially, but an increase of $13 million, or 5% year-over-year[31] - International revenue for Q4 2024 was $1,080 million, a decrease of 6% sequentially and 3% year-over-year, while full year 2024 international revenue increased by 10% to $4,467 million[33] - Latin America revenue for Q4 2024 was $312 million, a decrease of $46 million, or 13% sequentially, and a decrease of $30 million year-over-year[34] - Middle East/North Africa/Asia revenue for Q4 2024 was $542 million, flat sequentially, with a year-over-year decrease of $5 million, or 1%[35] - Europe/Sub-Sahara Africa/Russia revenue for Q4 2024 was $226 million, a decrease of $17 million, or 7% sequentially, but full year revenue increased by $86 million, or 10% compared to 2023[38] Debt and Equity - Total shareholders' equity increased to $1,283 million as of December 31, 2024, from $922 million as of December 31, 2023, representing a growth of 39.2%[49] - The company’s long-term debt decreased to $1,617 million as of December 31, 2024, from $1,715 million as of December 31, 2023, a reduction of 5.7%[49] - Total debt as of December 31, 2024, was $1,634 million, a decrease from $1,883 million a year earlier, with net debt at $659 million compared to $820 million in Q4 2023[65] - The company’s net debt, calculated as total debt less cash and cash equivalents and restricted cash, is a key measure for assessing its ability to service debt[51] - The net leverage ratio improved to 0.48x as of December 31, 2024, down from 0.69x a year earlier[65] Capital Expenditures - The company reported capital expenditures of $100 million for the three months ended December 31, 2024, compared to $78 million in the previous quarter and $67 million in the same quarter last year[53] - Capital expenditures for property, plant, and equipment in Q4 2024 were $100 million, compared to $67 million in Q4 2023[63] Strategic Initiatives - Weatherford secured multiple contracts, including a three-year contract for rigless services from ADNOC and a Managed Pressure Drilling contract from Kuwait Oil Company[10] - The company signed a strategic partnership with SPARK in Saudi Arabia to enhance local presence and production capabilities, aligning with Saudi Arabia's Vision 2030[11] Upcoming Events - The company will host a conference call on February 6, 2025, to discuss the fourth quarter results[40] Other Charges - Other charges in Q4 2024 primarily included severance and restructuring costs related to collections from a major customer in Mexico[63]

Fourth quarter revenue of $1,341 million decreased 5% sequentially and 2% year-over-year; full year revenue of $5,513 million increased 7% from prior year, driven by international revenue growth of 10%Fourth quarter operating income of $198 million decreased 19% sequentially and 8% year-over-year; full year operating income of $938 million increased 14% from prior yearFourth quarter net income of $112 million, an 8.4% margin, decreased 29% sequentially and 20% year-over-year; full year net income of $506 mi ...

Weatherford (WFRD) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended December 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on February ...