Weatherford International Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 saw strong margins and cash flow despite Middle East disruptions, with adjusted EBITDA at $223M and free cash flow conversion at 62.3%. Guidance for 2026 remains robust, with raised free cash flow outlook and continued focus on high-quality revenue and technology-driven growth.
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Q1 2026 saw revenue of $1.152B and adjusted EBITDA of $233M, with strong free cash flow and improved collections, despite a 3% year-over-year revenue decline due to divestitures and Middle East disruptions. H2 2026 is expected to rebound as operations normalize and new contracts ramp up.
Fiscal Year 2025
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Q4 2025 delivered sequential revenue and margin growth, with strong free cash flow and a 10% dividend increase. 2026 guidance anticipates slight revenue declines but improving margins, robust cash generation, and a stronger second half, with 2027 expected to show growth.
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Q3 2025 results exceeded expectations with strong free cash flow and margin expansion despite market headwinds. Outlook for Q4 is positive, with growth expected in MENA, Asia, and Latin America, while cost controls and innovation support resilience amid ongoing pricing and macro pressures.
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Q2 2025 results met expectations amid market headwinds, with strong cash flow, continued cost reductions, and robust liquidity. Guidance for 2025 remains steady, though revenue declines are expected in North America and internationally, with market uncertainty likely to persist into 2026.
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Q1 2025 results met expectations, with strong cash flow and margin discipline despite revenue declines in Mexico and North America. Portfolio optimization and cost actions improved capital efficiency, while guidance reflects a cautious outlook amid market uncertainty and tariff risks.
Fiscal Year 2024
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Q4 2024 results were impacted by sharp activity declines in Mexico and Russia, but full-year adjusted EBITDA margin reached a 15-year high and free cash flow was strong. 2025 guidance anticipates lower revenues and margins due to continued headwinds in Mexico and Russia, but cost actions and international growth (excluding these markets) are expected to support performance.
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A comprehensive turnaround has driven operational, cultural, and financial transformation, with a focus on cash generation, margin expansion, and disciplined capital allocation. International and production-oriented markets remain key growth drivers, supported by technology and portfolio optimization.
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Q3 2024 saw strong margin and cash performance with 25.2% adjusted EBITDA margin and $184M free cash flow, despite revenue headwinds. International growth led by the Middle East, new digital and technology contracts, and a focus on margin expansion and capital returns remain central.
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A comprehensive turnaround has reshaped leadership, portfolio focus, and operational discipline, driving margin expansion and innovation. Growth in the Middle East and deepwater markets, along with digital initiatives, positions the company for continued gains, though market growth is expected to moderate in 2025.
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Q2 2024 saw record 26% adjusted EBITDA margin and 10% revenue growth year-over-year, driven by international strength, especially in the Middle East. A new capital allocation framework was launched, including a $1/share dividend and $500M buyback, with full-year guidance reaffirmed despite North America softness.