Q2'25 Financial Performance - Weatherford's Q2'25 revenue reached $1,204 million, a 1% sequential increase[7] - Adjusted EBITDA* was $254 million, with a margin of 21.1%[7] - Adjusted Free Cash Flow* stood at $79 million, representing a 31.1% conversion on Adjusted EBITDA*[7] - Net income was $136 million, resulting in basic earnings per share of $1.87[11] Segment Performance - Drilling & Evaluation (DRE) revenue was $335 million, a 4% sequential decrease and a 22% year-over-year decrease[66] - Well Construction & Completions (WCC) revenue reached $456 million, a 3% sequential increase but a 10% year-over-year decrease[70] - Production & Intervention (PRI) revenue was $327 million, a 2% sequential decrease and an 11% year-over-year decrease[73] Capital Allocation and Balance Sheet - Weatherford repurchased $27 million of 8.625% Senior Notes due 2030 in Q2'25[8] - Shareholder return in Q2'25 totaled $52 million, including $18 million in dividends and $34 million in share repurchases[10] - The company maintains a strong liquidity position with ~$1 billion in cash and restricted cash[14] - Net leverage* is at 0.49x[11] Outlook - The company projects Q3'25 revenues between $1,165 million and $1,195 million and Adjusted EBITDA* between $245 million and $265 million[84] - For the full year 2025, Weatherford anticipates revenues of $47 billion to $49 billion and Adjusted EBITDA* of $1015 billion to $1060 billion[84]

Core Insights - Weatherford International plc reported a revenue of $1,193 million for Q1 2025, reflecting a 12% decrease year-over-year and an 11% decrease sequentially [2][6] - The company experienced a significant decline in operating income, which was $142 million, down 39% from $233 million in Q1 2024 [2][6] - Net income for Q1 2025 was $76 million, representing a 32% decrease year-over-year, with a net income margin of 6.4% [2][6] - Adjusted EBITDA was reported at $253 million, a decrease of 25% year-over-year, with an adjusted EBITDA margin of 21.2% [2][6] - The company faced market softening in key regions, particularly in Mexico, the UK, and North America, impacting activity levels [4][5] Financial Performance - Q1 2025 cash flows from operating activities were $142 million, an increase from $131 million in Q1 2024 but down from $249 million in Q4 2024 [3][6] - Adjusted free cash flow for Q1 2025 was $66 million, a decrease of $16 million year-over-year and $96 million sequentially [3][6] - Capital expenditures in Q1 2025 were $77 million, compared to $59 million in Q1 2024 and $100 million in Q4 2024 [3][6] Shareholder Returns - The company returned $71 million to shareholders in Q1 2025, which included $18 million in dividends and $53 million in share repurchases [11][6] - A quarterly cash dividend of $0.25 per share was declared, payable on June 5, 2025, to shareholders of record as of May 6, 2025 [11][6] Operational Highlights - Weatherford secured several significant contracts, including an eight-year contract extension with an International Oil Company in Kazakhstan and a five-year Integrated Completions contract with PDO Oman [9][6] - The company completed the sale of its Pressure Pumping business in Argentina as part of its portfolio optimization strategy [6][6] Revenue by Geography - North America revenue for Q1 2025 was $250 million, down 6% year-over-year, primarily due to lower activity in DRE and WCC segments [20][21] - International revenue was $943 million, a decrease of 14% year-over-year, with Latin America revenue down 35% year-over-year to $241 million [21][22] - Middle East/North Africa/Asia revenue increased by 1% year-over-year to $503 million, while Europe/Sub-Sahara Africa/Russia revenue decreased by 11% year-over-year to $199 million [22][23]