Weatherford International Stock Earnings Reports

Weatherford reported Q1 2026 revenue of $1.152 billion, adjusted EBITDA of $233 million (20.2% margin) and adjusted free cash flow of $85 million (36.5% conversion). Revenue was down 3% year-over-year (largely due to the Argentina pressure-pumping divestiture) and down sequentially ~11% due to normal seasonality and operational disruption from the Iran conflict. Management estimates the Iran conflict could reduce first-half profit by roughly $30–$50 million, with the biggest near-term impact expected in Q2. Guidance: Q2 revenue $1.017–$1.110 billion and adjusted EBITDA $195–$220 million; full-year 2026 revenue $4.5–$4.95 billion and adjusted EBITDA $945 million–$1.075 billion; adjusted free cash flow conversion now expected in the mid-40% range. Balance sheet/ capital allocation: $1.05 billion cash and restricted cash, net leverage <0.5x; returned $30 million to shareholders in Q1 (dividends + buybacks) and remain committed to returning capital; proposing redomestication from Ireland to Texas to simplify structure and enhance capital/tax flexibility. Operational/strategic: Middle East disruptions (country-by-country variability) weighed on results but Weatherford highlights resilient international pockets, strong collections (notably in Mexico via a new payment mechanism), ongoing cost/productivity actions, small non-core divestitures to further high-grade the portfolio, and lower full-year CapEx (3–5% of revenue range, with more IT/ERP spend). Management is constructive on a meaningful second-half 2026 ramp and a stronger 2027 driven by capacity restarts, energy-security driven investment, and improving offshore deepwater activity.