Core Insights - Weatherford International plc reported third quarter 2025 revenues of $1,232 million, reflecting a 2% increase sequentially but a 13% decrease year-over-year [2][7] - The company experienced a significant decline in operating income, net income, and earnings per share compared to both the previous quarter and the same quarter last year [2][3][7] - Adjusted EBITDA for the quarter was $269 million, with a margin of 21.8%, showing a sequential increase but a year-over-year decrease [2][3][7] Financial Performance - Revenues for Q3 2025 were $1,232 million, up 2% sequentially but down 13% year-over-year [2][7] - Operating income was $178 million, down 25% sequentially and 27% year-over-year [2][7] - Net income was $81 million, with a margin of 6.6%, reflecting a 40% decrease sequentially and a 48% decrease year-over-year [2][7] - Basic income per share was $1.13, down 40% sequentially and 48% year-over-year [2][7] Cash Flow and Capital Expenditures - Cash flows from operating activities were $138 million, an 8% increase sequentially but a 47% decrease year-over-year [3][7] - Adjusted free cash flow was $99 million, a 25% increase sequentially but a 46% decrease year-over-year [3][7] - Capital expenditures totaled $44 million, down 19% sequentially and 44% year-over-year [3][7] Strategic Developments - The company expanded its credit facility by $280 million, with total commitments now at $1 billion [5][16] - Weatherford announced a private offering of $1,200 million in Senior Notes due 2033 and a cash tender offer for $1,300 million of outstanding Senior Notes due 2030 [5][16] - Credit rating upgrades were received from Moody's, S&P Global Ratings, and Fitch Ratings, enhancing the company's financial standing [5][16] Operational Highlights - Weatherford showcased over 20 product launches at the FWRD 2025 conference, emphasizing innovation and digital transformation [6][7] - The company secured several significant contracts, including a $147 million contract with Petrobras for Tubular Running Services in Brazil [10][7] - Notable operational achievements included the deployment of advanced technologies in various regions, enhancing efficiency and reducing costs [10][11][20] Segment Performance - Drilling and Evaluation (DRE) segment revenue was $346 million, a 3% sequential increase but a 20% year-over-year decrease [15][17] - Well Construction and Completions (WCC) segment revenue was $468 million, up 3% sequentially but down 8% year-over-year [19][20] - Production and Intervention (PRI) segment revenue was $326 million, largely flat sequentially but down 12% year-over-year [21][22] Geographic Revenue Breakdown - North America revenue was $243 million, a 1% sequential increase but a 9% year-over-year decrease [24][7] - International revenue reached $989 million, a 3% sequential increase but a 13% year-over-year decrease [25][7] - Latin America revenue was $214 million, a 10% sequential increase but a 40% year-over-year decrease [26][7] - Middle East/North Africa/Asia revenue was $533 million, a 2% sequential increase but a 2% year-over-year decrease [27][7] - Europe/Sub-Sahara Africa/Russia revenue was $242 million, a 1% sequential decrease but flat year-over-year [28][7]

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]