Company Operations and Structure - Weatherford operates in approximately 75 countries with 330 operating locations, focusing on drilling, evaluation, well construction, completions, production, intervention, and responsible abandonment of wells[12]. - Weatherford's three reportable segments are Drilling and Evaluation, Well Construction and Completions, and Production and Intervention, all supported by advanced digital solutions[19]. - As of December 31, 2024, Weatherford had approximately 19,000 employees globally, with about 17% covered by union contracts[53]. - The company operates in approximately 75 countries with major service centers located in Mexico, Saudi Arabia, Argentina, UAE, Kuwait, Oman, the UK, and the US[143]. Financial Performance - Revenues totaled $5.51 billion in 2024, an increase of $378 million, or 7% compared to 2023, with product revenues increasing by 8% and service revenues by 7%[163]. - Operating income for 2024 was $938 million, a 14% increase from $820 million in 2023, driven by improved operational efficiencies and cost reduction initiatives[165]. - For the year ended December 31, 2024, total revenue was $5.513 billion, an increase of $378 million or 7.4% compared to 2023's revenue of $5.135 billion[178]. - DRE segment revenue for 2024 was $1.682 billion, up $146 million or 10% from $1.536 billion in 2023, with approximately 70% of the increase attributed to wireline activity[187]. - WCC segment revenue for 2024 reached $1.976 billion, an increase of $176 million or 10% compared to $1.800 billion in 2023, driven by higher demand in completions and liner hangers[192]. - PRI revenues for 2024 were $1.452 billion, a decrease of $20 million or 1% compared to 2023, primarily due to lower demand and activity, with approximately 65% of the decline attributed to pressure pumping[197]. - Cash provided by operating activities in 2024 was $792 million, a decrease from $832 million in 2023, primarily due to increased payments to suppliers[210]. - The company had cash and cash equivalents of $916 million at the end of 2024, down from $958 million at the end of 2023[209]. Shareholder Returns and Capital Management - Weatherford has introduced a shareholder returns program in 2024, which includes an expected annual dividend of $1 per share and a $500 million share repurchase authorization over three years[16]. - The company announced a shareholder returns program intending to pay regular quarterly cash dividends and repurchase up to $500 million in shares over a three-year period[102]. - The company paid $36 million in dividends during the twelve months ended December 31, 2024, with an additional $2 million accrued in dividend equivalent rights[150]. - The company announced a share repurchase program of up to $500 million through June 2027, with approximately $401 million remaining authorized for repurchases as of December 31, 2024[155]. Strategic Priorities and Initiatives - Weatherford aims to enhance customer experience by improving efficiency, value creation, and safety, while also investing in research and development for new energy technologies[16]. - Weatherford's strategic priorities include organizational vitality, lean operations, and financial performance to ensure sustainable profitability and cash flow generation[16]. - The company emphasizes the importance of technology in optimizing production and reducing costs for its customers, investing substantial resources in technology development[18]. - The company is focused on recruiting and developing talent through training and leadership programs to enhance employee skill sets[45]. - Weatherford's Diversity, Equity, and Inclusion Program aims to foster collaboration and support local communities, with initiatives like the Women of Weatherford group[50][51]. Risks and Challenges - The company faces potential disruptions in its supply chain due to geopolitical risks, including the Russia-Ukraine conflict, which could adversely affect operational costs and commitments to customers[62]. - The company is exposed to cybersecurity risks that could result in significant financial losses and operational disruptions[75][79]. - The company must adapt its technology portfolio to participate in the energy transition, which may affect demand for its products and services[69]. - The company may experience difficulties in completing acquisitions or integrating new businesses, which could negatively impact its financial performance[104]. - The company faces risks related to employee turnover and labor shortages, which could impede its operations and financial results[100]. Environmental and Regulatory Compliance - The company is subject to various laws and regulations related to environmental protection, which may increase compliance costs and liabilities[109]. - The company has committed to achieving net-zero emissions for Scope 1 and 2 by 2050 as part of its ESG initiatives[112]. - Climate change and ESG initiatives may lead to increased operational costs and reduced demand for products, impacting financial condition and access to capital markets[63][64]. - The need for significant capital expenditures to comply with sustainability initiatives may adversely affect financial condition and results of operations[66]. Taxation and Financial Liabilities - The company has recorded a valuation allowance on approximately 90% of its deferred tax assets, indicating potential future tax liabilities[119]. - The effective tax rate has fluctuated in the past and may continue to fluctuate due to changes in earnings composition and tax laws[119]. - The company may face increased tax liabilities if future legislation is enacted to implement the OECD accord in jurisdictions where it operates[118]. - The company’s tax expense could be materially impacted by changes in tax laws, tax treaties, or differing interpretations by tax authorities[116]. - The company’s ability to make scheduled payments on its debt obligations depends on its financial and operating performance, which is subject to economic conditions[92].

Financial Data and Key Metrics Changes - In Q4 2024, Weatherford reported a 2% sequential decline in North America revenue, primarily due to reduced U.S. land activity, while international revenue decreased by 6% sequentially and 3% year-over-year, mainly driven by Latin America, particularly Mexico [11][12] - The company achieved adjusted EBITDA margins of 24.3% in Q4, with full-year adjusted EBITDA margins at 25.1%, marking the highest full-year margin in over 15 years [12][13] - For the full year 2024, Weatherford generated $524 million of adjusted free cash flow, representing a 37.9% free cash flow conversion rate [29][33] Business Line Data and Key Metrics Changes - In the DRE segment, all major product lines exhibited significant growth, while completions in the WCC segment grew in the mid-double digits in 2024, following a year of mid-20% growth in 2023 [15][16] - The Wealth Services product line, focused on rigless intervention, has grown over 50% in three years, representing a significant growth vector with low capital intensity [17][18] Market Data and Key Metrics Changes - The international business saw a 10% growth on a full-year basis, led by the Middle East, North Africa, and Asia, which experienced a 17% year-on-year top-line growth [12][13] - The outlook for 2025 indicates a mid-single-digit decline in total international revenues, primarily due to anticipated drops in Mexico and Russia, while excluding these two countries, international revenues are expected to grow low single digits [22][24] Company Strategy and Development Direction - The company is focusing on structural cost optimization, networking capital efficiency, and identifying specific growth vectors to drive performance in a softer market [40][43] - Weatherford aims to achieve adjusted EBITDA margins in the high 20s over the next three years, despite short-term revenue declines [38][39] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the immediate outlook, particularly in Mexico, where activity levels are expected to drop significantly [21][22] - Despite challenges, management remains optimistic about growth opportunities in regions like Canada, Brazil, Kuwait, Saudi Arabia, Thailand, and Norway [22][24] Other Important Information - The company has initiated a cost containment program and expects to see substantial margin improvements in the second half of 2025 as cost and productivity programs take effect [26][27] - Weatherford has paid two quarterly dividends of $0.25 per share and repurchased approximately $99 million of shares during the second half of 2024 [14] Q&A Session Summary Question: Confirmation on Saudi growth offsetting declines in Mexico and Russia - Management confirmed that while Saudi Arabia is expected to grow, it will not fully offset the declines in Mexico and Russia, but will aid overall growth [50][51] Question: Insights on Russia's performance and future expectations - Management indicated a significant decline in Russia's business due to sanctions and operational complexities, with expectations for continued reduction in revenue contribution [72][73] Question: Future opportunities in Mexico - Management emphasized a focus on margins and cash management, expressing confidence in long-term potential despite current challenges [80] Question: Update on capital return program and share repurchases - Management stated that they are ahead of commitments regarding shareholder returns and will continue to evaluate share repurchases based on market conditions [87] Question: Growth prospects for the Wealth Services business - Management highlighted the growth driven by engineering capabilities and digital solutions, positioning it as a significant platform for future growth [118]

Core Viewpoint - Weatherford International plc is conducting its Q4 2024 and full-year 2024 earnings conference call, indicating a focus on financial performance and strategic insights for the upcoming year [1][3]. Group 1: Company Overview - The conference call features key company executives, including Girish Saligram (President & CEO) and Arun Mitra (EVP & CFO), highlighting the leadership's involvement in discussing financial results [3]. - The call is structured to begin with prepared remarks followed by a Q&A session, emphasizing a transparent communication approach with stakeholders [3]. Group 2: Financial Reporting - The company reminds participants that some comments will include forward-looking statements, which are subject to various risks and uncertainties that could impact actual results [4]. - Non-GAAP financial measures will be discussed, with details and reconciliations provided in the earnings press release available on the company's website [5].

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 ...

HOUSTON, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced that it has been awarded a three-year contract for the provision of rigless services as part of the reactivation of ADNOC onshore strings. The project is slated to begin in the fourth quarter of 2024, where Weatherford is expected to deploy multiple intervention solutions, advancing the operational efficiency and reliability of ADNOC’s onshore assets. The contract leverage ...

Weatherford International plc (NASDAQ: WFRD ) is a global oil and gas services company providing a range of drilling, field engineering and production optimization solutions. Most of the services in this industry are quite complex, and it is typical for a companyI am a full-time investor focusing on high-quality and growth companies. One of my other major areas is stocks with high starting dividends and low valuations. I regularly use EVA framework in addition to the normal accounting metrics. I try to have ...