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 ...

Exhibit 99.1 News Release Weatherford Announces First Quarter 2024 Results and Raises Full Year Margin Guidance *Non-GAAP - refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled • First quarter revenue of $1,358 million increased 15% year-over-year, led by international growth of 21% • First quarter operating income of $233 million increased 26% year-over-year • First quarter net income of $112 million, an 8.2% margin, increased 56% year-over-year ...

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 ...

Financial Data and Key Metrics Changes - Weatherford reported a revenue growth of 19% for the full year 2023, with total revenues reaching $5.14 billion and net income of $417 million, reflecting a significant improvement of over 1500% year-over-year [34][7] - Adjusted EBITDA for the year was approximately $1.2 billion, with an adjusted EBITDA margin of 23.1%, an increase of 423 basis points [34][7] - In Q4 2023, revenue was $1.36 billion, a 4% sequential increase and a 13% year-over-year increase, with adjusted EBITDA of $321 million, up 5% sequentially and 21% year-over-year [34][36] Business Line Data and Key Metrics Changes - Drilling and Evaluation (DRE) segment revenues were $382 million in Q4, a decrease of 2% sequentially but a 16% increase for the full year [38] - Well Construction and Completion (WCC) segment revenues increased by 5% sequentially to $480 million, driven by higher activity in the Middle East, North Africa, and Asia [40] - Production and Intervention (PRI) segment revenues were $386 million, up 4% sequentially, primarily due to higher activity in digital solutions and international artificial lift [41] Market Data and Key Metrics Changes - International operations saw a 26% growth, while North America experienced margin growth despite a revenue decline in a weaker market [8][7] - Latin America was the highest growth region in 2023, with expectations for continued growth in the mid to high single-digit range in 2024 [16] - The Middle East is expected to lead growth in 2024, with high-teens growth anticipated, while Russia is expected to decline due to operational complexities [18][17] Company Strategy and Development Direction - The company aims for continued revenue growth and margin expansion, targeting 25% EBITDA margins by 2025 [21][22] - Weatherford is focusing on inorganic growth through selective acquisitions, having recently acquired two technology companies in the wireline space and a leader in well-decommissioning technology [24][23] - The strategic priorities for 2024 include organizational vitality, customer experience, lean operations, and financial performance [28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued activity growth driven by international customer investment, despite recent market volatility [11] - The company anticipates a long-term upcycle in the energy sector, supported by significant investments in large projects [12][13] - Management highlighted the importance of geopolitical risks over broader macroeconomic themes as the primary concern for activity growth [18] Other Important Information - Weatherford's gross debt was reduced to $1.7 billion, with a net leverage ratio of 0.7x, marking the lowest level in over 15 years [31][47] - The company received credit rating upgrades from S&P and Moody's, reflecting improvements in operating performance and balance sheet [49] - CapEx for 2023 was $209 million, or 4.1% of revenue, with expectations for CapEx to remain around 5% of revenue in 2024 [46][52] Q&A Session Summary Question: Can you provide updates on projects in Saudi Arabia? - Management confirmed involvement in various projects, emphasizing a strong position in onshore services and integrated projects [56][57] Question: What are the strategic priorities moving forward? - Management indicated a shift towards a more offensive strategy, focusing on capital allocation, shareholder returns, and selective M&A opportunities [66][70] Question: How do you see margin expansion progressing in 2024? - Management expects gradual margin improvements throughout the year, with a target of exiting 2024 at around 25% EBITDA margins [86][88] Question: What is the outlook for offshore growth? - Management highlighted significant growth opportunities in offshore markets, particularly in intervention services and decommissioning [99][100] Question: How will acquisitions impact revenue growth? - Management clarified that while acquisitions contribute to growth, the overall revenue increase is primarily driven by existing operations and market opportunities [93][94]

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, 2023 ☐ 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 ...