INVESTOR PRESENTATION Q4'25 Weatherford International PLC Weatherford International Plc 1 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*, ROIC*, shareholder return program, capital allocation framework, forecasts or expectations regarding business outlook, prospects for its operations, capital expenditures, expect ...

Core Insights - Expro has launched Solus™, a high-debris single shear and seal ball valve system designed to enhance subsea well access solutions in the oil and gas industry [1] Company Overview - Expro is an energy services provider that focuses on innovative solutions for the international oil and gas sector [1] Product Innovation - The Solus™ system replaces the traditional requirement of two valves with a single valve, thereby simplifying operations [1] - This innovation aims to reduce operational risk and complexity while improving functionality and safety [1] Industry Impact - The introduction of Solus™ is expected to revolutionize the industry's approach to subsea well access, potentially accelerating operational efficiency [1]

Core Viewpoint - Halliburton Company (HAL) has demonstrated strong stock performance and operational resilience, positioning itself favorably within the energy sector as it prepares for future growth and shareholder value enhancement. Group 1: Company Overview - Halliburton, based in Houston, Texas, serves the global energy industry across the entire oil and gas well lifecycle with a market cap of approximately $28.2 billion [1]. - The company provides integrated solutions that include well construction, reservoir modeling, drilling fluids, evaluation, completion, and production optimization [1]. Group 2: Stock Performance - Over the past 52 weeks, HAL stock has increased by nearly 32.8%, outperforming the S&P 500 Index, which rose by 15.4% during the same period [2]. - Year-to-date, Halliburton's shares are up 19.9%, while the S&P 500 Index has only managed a 1.1% gain [2]. - Compared to the State Street Energy Select Sector SPDR ETF (XLE), which gained 17.2% over the past year and 15.6% year-to-date, HAL's performance indicates stronger execution and investor confidence [3]. Group 3: Financial Results - In Q4 2025, Halliburton's revenue increased marginally year-over-year to $5.7 billion, surpassing Street estimates of $5.4 billion [5]. - Adjusted EPS for Q4 2025 slipped 1.4% to $0.69 but still exceeded expectations of $0.54 [5]. Group 4: Future Outlook - Management anticipates 2026 as a year of recalibration, expecting Q4 momentum to continue as new technologies enhance operational quality [6]. - The company is focused on prioritizing shareholder value through dividends and share buybacks, reflecting confidence in its strategic direction [6]. - For fiscal year 2026, analysts project diluted EPS of $2.26, indicating a 6.6% year-over-year decline, yet Halliburton has consistently beaten or met EPS expectations in recent quarters [7]. Group 5: Analyst Sentiment - Wall Street maintains a "Moderate Buy" rating on HAL stock, with 12 out of 25 analysts rating it a "Strong Buy," three a "Moderate Buy," nine a "Hold," and one a "Strong Sell" [8]. - Analyst sentiment has remained stable over the past three months, with 13 analysts previously labeling the stock a "Strong Buy" [9].

Financial Data and Key Metrics Changes - For the full year 2025, revenue was $4 billion, down from $4.3 billion in 2024. Net income totaled $148 million, with adjusted net income at $25 million, excluding $123 million of tax-affected gains on investments. Fully diluted net income per share was $0.89, and adjusted net income per fully diluted share was $0.15. Full year adjusted EBITDA was $634 million, compared to $922 million in the prior year [19][20] - In Q4 2025, revenue was $1 billion, representing a sequential increase of 10%. Q4 net income was $14 million, down from $43 million in the prior quarter. Adjusted net income was $8 million, compared to a loss of $10 million in the prior quarter. Q4 adjusted EBITDA was $158 million, increasing from $128 million in the prior quarter [19][20] Business Line Data and Key Metrics Changes - The company reported a resilient CROCI of 13% during a volatile year, driven by technological innovation and strong operational execution. The focus on expanding the simulfrac offering and leveraging AI-driven asset optimization software led to a reduction in total maintenance costs per unit of work by approximately 14% [5][6] - The LPI execution platform for earnings growth has gained strong commercial traction, with significant agreements for power solutions, including a 1 gigawatt utility-scale project with Vantage Data Centers [7][8] Market Data and Key Metrics Changes - U.S. power demand is rising at the fastest pace in decades, driven by AI-driven data center expansion and increasing industrial electrification. Data center demand for power is projected to grow threefold by 2030, highlighting the urgent need for flexible, scalable capacity [10][11] - North American oil and gas markets have stabilized after a period of softening activity, with fourth quarter completions activity exceeding expectations. Completions demand is projected to hold firm in 2026 [11][12] Company Strategy and Development Direction - The company aims to deploy approximately 3 gigawatts of power projects by 2029, focusing on long-term value creation and sustainable returns. The strategy includes investing in technology and partnerships to enhance its power solutions business [15][18] - The company is transitioning from a premier North American completions company to a diversified energy technology and power infrastructure platform, emphasizing the importance of advanced technology and strategic partnerships [14][26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate market cycles and capitalize on power growth potential, despite anticipated pricing headwinds and increased development costs for the LPI Distributed Power Solutions business [15][23] - The company expects to see strong demand for its digiTechnologies platform and improved economics, with a focus on driving value creation and prioritizing long-term returns [16][19] Other Important Information - The company ended the year with a cash balance of $28 million and net debt of $219 million, which increased by $49 million from the prior year. Total liquidity at the end of the year was $281 million [21][22] - Capital expenditures for 2025 were $571 million, including investments in infrastructure and technology, with expectations for continued strong demand for the company's offerings [22][23] Q&A Session Summary Question: Can you discuss the pipeline of opportunities and market conditions? - Management noted a continued trend towards co-located behind-the-meter power as the best long-term solution for data centers, with increasing urgency from customers to secure power agreements [30][32] Question: How do you see the mix of power generation technology evolving? - The company can achieve the 3 gigawatts target with current technology and is confident in the efficiency of gas reciprocating engines as the preferred choice for deployment [34][36] Question: Can you comment on the delivery of equipment and confidence in timelines? - Management has strengthened relationships with suppliers and secured delivery schedules through 2029, ensuring the ability to meet project timelines [43][44] Question: How will the 3 gigawatts be achieved? - The company expects a combination of growing opportunities with existing customers and adding new customers, with ongoing conversations in the market [45] Question: What are the expectations for EBITDA in 2026? - EBITDA is expected to be down, primarily driven by the completions business, with a significant contribution from the power business anticipated in 2027 [52][53]

Financial Data and Key Metrics Changes - For the full year 2025, revenue was $4 billion, down from $4.3 billion in 2024. Adjusted EBITDA was $634 million, compared to $922 million in the prior year. Net income totaled $148 million, with adjusted net income at $25 million, excluding $123 million of tax-affected gains on investments [19][21] - In Q4 2025, revenue was $1 billion, representing a sequential increase of 10%. Fourth quarter net income was $14 million, down from $43 million in the prior quarter. Adjusted net income was $8 million, compared to a loss of $10 million in the prior quarter [19][20] Business Line Data and Key Metrics Changes - The company reported a resilient CROCI of 13% during a volatile year, driven by technological innovation and operational execution [5] - The completions business showed strong performance, with fourth quarter completions activity exceeding expectations despite seasonal declines [11][12] Market Data and Key Metrics Changes - North American oil and gas markets have stabilized after a period of softening activity, with flat oil production targets and modest growth in gas-directed activity expected [12] - Data center demand for power is projected to grow threefold by 2030, highlighting the urgent need for flexible, scalable capacity [11] Company Strategy and Development Direction - The company is focused on expanding its power infrastructure platform, aiming to deploy approximately 3 GW of power projects by 2029, which is expected to deliver sustained earnings and high returns [15][26] - The strategy includes leveraging AI-driven asset optimization software and enhancing operational efficiency through technology [5][14] Management's Comments on Operating Environment and Future Outlook - Management noted that the U.S. power demand is rising at the fastest pace in decades, driven by AI-driven data center expansion and increasing industrial electrification [10] - The company anticipates stabilization in completions markets and significant demand for its technology platform, with expectations of improved economics in the future [15][19] Other Important Information - The company ended the year with a cash balance of $28 million and net debt of $219 million, which increased by $49 million from the prior year [21] - Capital expenditures for 2025 were $571 million, including investments in infrastructure and technology [22] Q&A Session Summary Question: Can you talk about the pipeline of opportunities and what you're seeing in the market commercially right now? - Management noted a continued trend towards co-located behind-the-meter power as the best long-term solution for data centers, with increasing urgency from customers to secure power supply [30][32] Question: How do you see your mix evolving and do the customers care about the technology? - Management confirmed that they can achieve the 3 GW target with current technology and emphasized the efficiency of gas reciprocating engines as the preferred choice for deployment [34][36] Question: Can you comment on the delivery of equipment and your confidence in meeting timelines? - Management highlighted strong relationships with suppliers and confidence in meeting delivery schedules for upcoming projects [43][44] Question: Will the 3 GW deployment likely involve multiple customers or exponential add-on capacity? - Management indicated it would be a combination of both, with expectations of growing opportunities with current customers and adding new ones [45] Question: How should we think about the level of EBITDA for 2026? - Management expects EBITDA to be down, primarily driven by the completions business, with significant contributions from the power business anticipated in 2027 [53][54]

Financial Data and Key Metrics Changes - For the full year 2025, revenue was $4 billion, down from $4.3 billion in 2024. Net income totaled $148 million, with adjusted net income at $25 million, excluding $123 million of tax-affected gains on investments. Fully diluted net income per share was $0.89, and adjusted net income per diluted share was $0.15. Full year adjusted EBITDA was $634 million, compared to $922 million in the prior year [20][21] - In Q4 2025, revenue was $1 billion, representing a sequential increase of 10%. Q4 net income was $14 million, down from $43 million in the prior quarter. Adjusted net income was $8 million, compared to a loss of $10 million in the prior quarter. Q4 adjusted EBITDA was $158 million, increasing from $128 million in the prior quarter [20][21] Business Line Data and Key Metrics Changes - The company reported a resilient CROCI of 13% during a volatile year, driven by technological innovation and strong operational execution. The focus on expanding the simulfrac offering and leveraging AI-driven asset optimization software led to a 14% reduction in total maintenance costs per unit of work [4][5] - The LPI execution platform for earnings growth was built through strategic partnerships and targeted investments, capitalizing on the transformation of power supply and redefining the energy landscape [5][10] Market Data and Key Metrics Changes - U.S. power demand is rising at the fastest pace in decades, driven by AI-driven data center expansion, onshoring of domestic manufacturing, and increasing industrial electrification. Data center demand for power is projected to grow threefold by 2030 [10][11] - North American oil and gas markets have stabilized after a period of softening activity, with completions demand projected to hold firm in 2026. The industry is adjusting to last year's OPEC Plus supply concerns and tariff-related volatility [11][12] Company Strategy and Development Direction - The company aims to deploy approximately 3 gigawatts of power projects by 2029, focusing on long-duration earnings and high returns for investors. The strategy includes building a differentiated power business with diverse end markets and less cyclicality [16][25] - The company is focused on driving value creation through its industry-leading completions business and power growth platform, leveraging cutting-edge technology and strategic partnerships [17][26] Management's Comments on Operating Environment and Future Outlook - Management noted that while the precise timing of a broader oil market recovery remains uncertain, stabilization in completions markets and significant demand for the digiTechnologies platform are anticipated. The first quarter is expected to reflect lower sequential revenue and adjusted EBITDA due to pricing headwinds and winter weather disruptions [16][22] - The company expects to see pricing pressures in the completions business, with mid-single-digit declines anticipated. However, strong contributions from the Distributed Power Solutions projects are expected in the coming years [24][54] Other Important Information - The company ended the year with a cash balance of $28 million and net debt of $219 million, which increased by $49 million from the prior year. Total liquidity at the end of the year was $281 million [22][23] - Capital expenditures for 2025 were $571 million, including investments in various projects, with expectations for continued strong demand for the digi offering [23][24] Q&A Session Summary Question: Can you discuss the pipeline of opportunities and the expansion to 3 gigawatts? - Management noted a continued trend towards co-located behind-the-meter power as the best long-term solution for data centers, with increasing urgency from partners to secure power supply [30][32] Question: What is the status of equipment delivery and confidence in meeting timelines? - Management emphasized strong relationships with supply chain partners and confidence in meeting delivery schedules for upcoming projects [44] Question: How will the 3 gigawatts be achieved, and will it involve multiple customers? - Management indicated that it will be a combination of growing opportunities with current customers and adding new customers [46] Question: How will the spending for 2026 be funded? - Management explained that spending would be split between project financing and free cash flow, with a strong balance sheet supporting the funding [49][51] Question: What are the expectations for EBITDA in 2026? - Management anticipates EBITDA will be down, primarily driven by the completions business, with significant contributions expected from the power business starting in 2027 [53][54] Question: Is there urgency from partners to secure fuel sources? - Management confirmed that there is increased urgency from partners to secure agreements, enhancing the attractiveness of the LPI platform [58]

Financial Data and Key Metrics Changes - Kirby Corporation reported a record year in 2025, with over $400 million in free cash flow and a strong balance sheet, having paid down $130 million in debt [4][21] - The company generated cash flow from operations of $670 million for the year, driven by higher revenues and earnings [21] - Total revenues for the Marine Transportation segment were $482 million in Q4 2025, with an operating income of $100 million, reflecting a 3% increase in revenues year-over-year [10][11] Business Line Data and Key Metrics Changes - In the Inland Marine segment, revenues decreased by 1% compared to Q4 2024, primarily due to lower utilization, but increased by 3% compared to Q3 2025 due to improved market conditions [11][12] - Coastal Marine revenues increased by 22% year-over-year, supported by steady demand and higher contract prices, with operating margins around 20% [13][14] - The Distribution and Services segment saw revenues of $370 million in Q4 2025, a 10% increase year-over-year, driven by the power generation business, which represented 52% of total segment revenues [15][16] Market Data and Key Metrics Changes - Barge utilization in Inland Marine averaged in the mid- to high-80% range, improving towards the end of the quarter, while Coastal Marine utilization remained strong in the mid- to high-90% range [6][7] - Spot prices in the inland market showed early signs of recovery in January 2026, following a decline in Q4 2025 [6][32] - The power generation business experienced a 47% year-over-year revenue increase, driven by strong order flow and project wins [16][17] Company Strategy and Development Direction - Kirby Corporation aims for steady growth and solid performance in 2026, with a focus on capital allocation to return value to shareholders and pursue long-term investments [4][23] - The company is optimistic about the power generation segment, which is expected to continue driving growth despite mixed demand across other product lines [24][27] - Management highlighted the importance of maintaining operational excellence and cost control amid rising medical costs and inflationary pressures [18][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the operational and financial momentum exiting 2025, with expectations for improving market conditions in 2026 [4][24] - The company noted potential upside from macro factors such as Venezuelan oil flows and ongoing tariff developments, which could enhance demand [24][29] - Management acknowledged the challenges posed by supply constraints and inflation but remains optimistic about the overall financial performance for 2026 [21][29] Other Important Information - Kirby Corporation's total capital expenditures for 2025 were $264 million, with expectations for 2026 to fall in the $220 million-$260 million range [22] - The company maintained a balanced capital allocation approach, with a focus on returning capital to shareholders while exploring acquisition opportunities [23][29] Q&A Session Summary Question: Insights on Q4 term contract pricing and demand outlook for 2026 - Management indicated that the slight decline in term contract pricing was due to short-term demand pressures, but early signs of recovery in spot prices are encouraging for 2026 [31][32] Question: Impact of coastal shipyard activity on revenue and costs - Management confirmed that increased shipyard activity would impact margins due to associated costs, but pricing remains strong in the coastal market [39][40] Question: Clarification on EPS guidance range and factors influencing it - The broad EPS guidance range reflects uncertainties in power generation deliveries and pricing improvements in the inland market, with management remaining cautiously optimistic [47][48] Question: Update on CapEx guidance and new build pricing trends - Management noted that new build pricing remains consistent, with ongoing labor challenges at shipyards, and emphasized a pragmatic approach to potential acquisitions [84][87]

Financial Data and Key Metrics Changes - Kirby Corporation reported a record year in 2025, with over $400 million in free cash flow and a strong balance sheet, having paid down $130 million in debt [4][20] - The company generated cash flow from operations of $670 million for the year, driven by higher revenues and earnings [21] - Total available liquidity at the end of the fourth quarter was approximately $542 million [21] Business Line Data and Key Metrics Changes - Marine transportation segment revenues were $482 million in Q4 2025, with an operating income of $100 million and an operating margin in the low 20% range [10] - Inland marine revenues decreased 1% compared to Q4 2024, primarily due to lower utilization, while coastal revenues increased 22% year-over-year [11][13] - Distribution and services segment revenues were $370 million, with operating income of $30 million and an operating margin of 8.1% [15] Market Data and Key Metrics Changes - Inland barge utilization averaged in the mid- to high-80% range, improving towards the end of the quarter, while coastal barge utilization remained strong in the mid- to high-90% range [6][14] - Power generation revenues grew 47% year-over-year, driven by strong order flow and project wins [7][16] - The oil and gas market continued to face softness, with revenues down 45% year-over-year [18] Company Strategy and Development Direction - Kirby Corporation aims for steady growth and solid performance in 2026, with expectations of improving market conditions and operational momentum [4][9] - The company is focused on a balanced capital allocation approach, returning capital to shareholders while pursuing long-term investment opportunities [22][23] - Power generation is identified as a core growth area, with an expanding backlog and strong customer demand [24][27] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the refining industry and potential demand from Venezuelan crude, which could positively impact operations [24][37] - The company anticipates stable refinery activity and improving inland utilization, with spot rates showing early signs of an upward trend [8][25] - Despite expected seasonal challenges in Q1, management expects operating performance to strengthen throughout the year [26][28] Other Important Information - The company experienced an increase in medical costs, which is expected to continue in 2026, impacting operating margins [18][19] - Capital expenditures for 2025 totaled $264 million, with expectations for 2026 to fall within the $220 million-$260 million range [22] Q&A Session Summary Question: Inquiry on Q4 term contract pricing and demand outlook - Management noted that the slight decline in term pricing was due to weak demand in Q4, but they have seen spot prices rebound in January, indicating a more positive outlook for 2026 [31][32][36] Question: Clarification on coastal revenue expectations and shipyard impacts - Management confirmed that increased shipyard activity would impact margins, but revenue growth would primarily come from price increases rather than volume [39][40] Question: Discussion on EPS guidance range and underlying factors - Management explained that the broad EPS guidance range is influenced by power generation delivery timing and the potential for improved inland pricing throughout the year [48][49] Question: Update on CapEx guidance and new build pricing - Management indicated that new build pricing remains consistent, with labor costs still high, and they do not anticipate significant acquisitions impacting CapEx guidance [84][87]

Core Viewpoint - Wall Street anticipates a year-over-year increase in earnings for RPC, driven by higher revenues, with a focus on how actual results compare to estimates impacting stock price [1][2]. Earnings Expectations - RPC is expected to report quarterly earnings of $0.07 per share, reflecting a year-over-year increase of 16.7% [3]. - Revenues are projected to reach $425 million, representing a 26.7% increase from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has remained unchanged over the last 30 days, indicating stability in analyst expectations [4]. - The Most Accurate Estimate for RPC aligns with the Zacks Consensus Estimate, resulting in an Earnings ESP of 0%, suggesting no recent differing analyst views [11]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive or negative reading can predict deviations from consensus estimates, with positive readings being more reliable [8][9]. - RPC currently holds a Zacks Rank of 3, making it challenging to predict an earnings beat conclusively [11]. Historical Performance - In the last reported quarter, RPC exceeded expectations with earnings of $0.09 per share against an estimate of $0.05, achieving a surprise of 80% [12]. - Over the past four quarters, RPC has only beaten consensus EPS estimates once [13]. Conclusion - While RPC may not be a strong candidate for an earnings beat, investors should consider other factors influencing stock performance ahead of the earnings release [16].

Group 1 - Sable Offshore Corp. (NYSE:SOC) is a Texas-based energy company that manages oil and gas platforms, federal leases, and subsea pipelines [2] - The company is involved in the extraction and transport of crude oil and natural gas from offshore sites to onshore processing facilities [2] - Concerns have been raised regarding California regulations affecting the company's operations, leading to a negative outlook from analysts [1] Group 2 - There is a belief that certain AI stocks present greater upside potential and carry less downside risk compared to Sable Offshore Corp. [2] - The article suggests that investors looking for undervalued stocks may find better opportunities in the AI sector, particularly those benefiting from Trump-era tariffs and the onshoring trend [2]