Weatherford International PLC

Weatherford International plc provides equipment and services to the oil and natural gas exploration and production industry. It operates through three segments: Drilling and Evaluation, Well Construction and Completions & Production and Intervention. The Drilling and Evaluation offers managed pressure drilling, drilling services, wire line and drilling fluids. The Well Construction and Completions including tubular running services, cementation products, completions, liner hangers and well services. The Production and Intervention offers intervention services & drilling tools, artificial lift, production automation & software, sub-sea intervention and pressure pumping services. The company was founded in 1941 and is headquartered in Houston, TX.

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Weatherford International reports robust earnings, eyes margin expansion and debt reduction

Weatherford International's strong financial performance in Q4 2022 and full year, driven by revenue growth, margin expansion, and operational efficiencies, positions the company well for future growth.
While facing short-term challenges in Q1 2023 with margin decline and negative free cash flow, Weatherford's focus on debt reduction, margin improvement, and operational excellence presents opportunities for long-term success.
The company's strategic priorities of financial performance, organizational vitality, and innovation align with market opportunities in international and offshore segments, signaling a proactive approach to sustainable growth.

Weatherford International excels in Q1, eyes international growth opportunities

Weatherford International delivered a strong Q1 performance, exceeding revenue, margin, and cash generation expectations. Despite challenges in certain markets and cost recoveries impacting Q2 revenue, the company remains focused on strategic priorities for long-term growth and profitability.

Weatherford International PLC reports robust Q2 earnings and market optimism

Weatherford International's Q2 2023 showcased strong financial performance, notable contract wins, and technological advancements. Despite challenges in North America and financial queries, the company remains optimistic about market opportunities and growth prospects.

Weatherford reports strong Q3 performance, eyes international market growth

Weatherford International PLC's Q3 performance showcased revenue growth, margin improvement, and strong cash flow generation. The company's strategic priorities focus on margin expansion, cash generation, and enhancing the balance sheet. With a positive market outlook for international and offshore segments, Weatherford aims to leverage technological advancements and strategic initiatives for future growth.

Weatherford International excels in 2023, eyes global growth opportunities

Weatherford International's strong 2023 performance, focus on margin expansion, and strategic priorities for 2024 position the company for continued growth. Debt reduction, CapEx management, and sustaining margin expansion are key challenges. M&A opportunities, international growth, and regional opportunities offer avenues for further expansion.

Weatherford International excels in Q1 2024, eyes gas market growth

Weatherford International's Q1 2024 showcased strong financial performance, strategic focus on growth and innovation, and positive market outlook. While facing challenges in capital allocation and margin progression, the company is well-positioned to capitalize on opportunities in the gas sector and international markets.

Weatherford International reports robust Q2 performance amidst global challenges

Weatherford International's Q2 performance showcased strong financial metrics and international growth, despite challenges from external factors.
The company's strategic initiatives, including a shareholder return program and focus on technology, position it well for future success and value creation.
While facing challenges like social unrest and debt reduction, Weatherford's opportunities lie in revenue growth, margin improvement, and market expansion.

Weatherford International reports robust Q3 performance and optimistic outlook

Weatherford International's Q3 2024 performance showcased strong financial metrics, strategic initiatives, and a positive outlook for the year. The company's focus on margin expansion, cash flow generation, and inorganic growth highlights its commitment to long-term success and value creation for stakeholders.

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Weatherford International plc engages in providing equipment and services to the oil and natural gas exploration and production industry. It operates through the following segments: Drilling and Evaluation (DRE), Well Construction and Completions (WCC) and Production and Intervention (PRI). The DRE segment offers managed pressure drilling, drilling services, wire line, and drilling fluids. The WCC segment includes tubular running services, cementation products, completions, liner hangers, and well services. The PRI segment covers the intervention services and drilling tools, artificial lift, production automation and software, sub-sea intervention, and pressure pumping services. The company was founded in 1941 and is headquartered in Houston, TX.

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Weatherford (WFRD) could be a solid choice for shorter-term investors looking to capitalize on the recent price trend in fundamentally sound stocks. It is one of the many stocks that passed through our shorter-term trading strategy-based screen.

Here's Why Momentum in Weatherford (WFRD) Should Keep going

The average of price targets set by Wall Street analysts indicates a potential upside of 27.6% in Weatherford (WFRD). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

Wall Street Analysts Predict a 27.64% Upside in Weatherford (WFRD): Here's What You Should Know

Even a powerful relative strength line didn't save Weatherford from recent oil stock weakness.

Earnings Season Added Fuel To A Fire In Oil Stocks

HOUSTON, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) began its 19th annual FWRD Digital Conference today, convening figures from across the energy sector, technology partners, and technical experts from Weatherford. The conference aims to exchange insights on the industry's direction and the transformative impact of digitalization on the energy sector, and showcase digitally enhanced, comprehensive life-of-well solutions.

Weatherford Hosts FWRD Digital Conference Introducing Cutting-Edge Technology

HOUSTON, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) announced it has signed a memorandum of understanding (“MOU”) with Honeywell to deliver a combined CygNet™ SCADA and Honeywell Emissions Management suite for advanced emissions management and accelerate customers' decarbonization strategy.

Weatherford Announces Agreement with Honeywell to Deliver Advanced Emissions Management Solution

HOUSTON, Nov. 06, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced the Company's issuer credit rating has recently been upgraded to 'B+' from 'B' by S&P Global Ratings (“S&P”). S&P based the rating upgrade in part due to the continued debt repayment as cash flows benefited from improved profitability and demand conditions. The positive outlook reflects expectation that the Company's credit metrics will continue to improve amid supportive market conditions and further debt repayment.

Weatherford Announces Upgrade in Credit Rating To 'B+' From 'B', Outlook Positive

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Are You Looking for a Top Momentum Pick? Why Weatherford (WFRD) is a Great Choice

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Weatherford (WFRD) is on the Move, Here's Why the Trend Could be Sustainable

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The mean of analysts' price targets for Weatherford (WFRD) points to a 27.6% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

How Much Upside is Left in Weatherford (WFRD)? Wall Street Analysts Think 27.56%

HOUSTON, Oct. 30, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced that Moody's Investors Service ("Moody's") upgraded its Corporate Family Rating to B1 from B2 with Positive Outlook. The upgrade reflects the improvement in credit metrics as a result of the Company reducing its balance sheet debt and growing earnings. The positive outlook also evidences the ongoing strong demand for Weatherford's services and potential for further improvement in its credit profile.

Weatherford Announces Upgrade in Credit Rating to ‘B1' from ‘B2', Positive Outlook

HOUSTON, Oct. 30, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced Fitch Ratings (“Fitch”) has initiated a credit rating of ‘B+' with Stable Outlook. The credit rating reflects Weatherford's diversification, size, scale, improving margin profile, and debt-focused capital allocation.

Weatherford Announces Fitch Credit Rating of ‘B+'

Weatherford International is an unexpected winner in the oil field services boom, with strong earnings and projected double-digit revenue growth. The company offers differentiated services with higher margins and has the capacity to meet incremental market demand. Weatherford is undervalued compared to its peers, presenting an investment opportunity with potential for significant upside.

Weatherford: Unexpected Global Integrated Oilfield Services Winner

Weatherford International plc (NASDAQ:WFRD ) Q3 2023 Earnings Call Transcript October 25, 2023 10:00 AM ET Company Participants Girish Saligram - President, Chief Executive Officer Arun Mitra - Executive Vice President, Chief Financial Officer Mohammed Topiwala - Director, Investor Relations, M&A Conference Call Participants Luke Lemoine - Piper Sandler Ati Modak - Goldman Sachs Doug Becker - Capital One Jim Rollyson - Raymond James Kurt Hallead - Benchmark Operator Ladies and gentlemen, thank you for standing by. And welcome to the Weatherford International, Third Quarter 2023 Earnings Call.

Weatherford International plc (WFRD) Q3 2023 Earnings Call Transcript

Weatherford (WFRD) came out with quarterly earnings of $1.66 per share, beating the Zacks Consensus Estimate of $1.15 per share. This compares to earnings of $0.40 per share a year ago.

Weatherford (WFRD) Q3 Earnings and Revenues Surpass Estimates

Revenues of $1,313 million increased 3% sequentially and 17% year-over-year, driven by international revenue growth of 3% sequentially and 27% year-over-year Operating income of $218 million increased 8% sequentially and 80% year-over-year Net income of $123 million increased 50% sequentially and 339% year-over-year; net income margin of 9.4% Adjusted EBITDA* of $305 million increased 5% sequentially and 43% year-over-year; adjusted EBITDA margin* of 23.2%, highest in over 14 years Cash provided by operating activities of $172 million and adjusted free cash flow* of $137 million Debt repayments of $147 million on 6.50% Senior Secured Notes comprised of $72 million in the third quarter of 2023, and an additional $75 million in October 2023 Announced $550 million credit facility with $300 million borrowing capacity and five-year maturity Launched ForeSite® ReGenX-i, the energy industry's first regenerative variable-speed drive for rod-lift systems, harnessing untapped energy through recycling otherwise wasted power, and reducing emissions *Non-GAAP - refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled HOUSTON, Oct. 24, 2023 (GLOBE NEWSWIRE) --  Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) announced today its results for the third quarter of 2023. Revenues for the third quarter of 2023 were $1,313 million, an increase of 3% sequentially and 17% year-over-year.

Weatherford Announces Third Quarter 2023 Results and Raises Full-Year Outlook

HOUSTON, Oct. 24, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford,” and, the “Company,” “we,” “us” and “our”) announced a five-year credit facility that is effective today with aggregate commitments of $550 million. The facility is comprised of a $250 million tranche available for performance letters of credit and a $300 million tranche available as a cash revolver. There is also the optionality of a $200 million accordion based on satisfaction of certain conditions.

Weatherford Announces $550 Million Credit Facility with $300 Million Borrowing Capacity

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Weatherford (WFRD) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Weatherford (WFRD) Earnings Expected to Grow: What to Know Ahead of Next Week's Release

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HOUSTON, Oct. 13, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford,” and, the “Company,” “we,” “us” and “our”) through its wholly owned subsidiary, Weatherford International Ltd., today issued a notice of redemption to redeem $50,000,000 aggregate principal amount outstanding of its 6.50% Senior Notes due 2028 (the “2028 Notes”) on October 23, 2023 (the “Redemption Date”) at a redemption price of 103.00% of the principal amount, plus accrued and unpaid interest to, but excluding, the Redemption Date.

News for Weatherford International PLC Stock (WFRD)