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 ...

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 ...