Earnings ·
Weatherford reports Q3 net income of $120 million, raises full-year free cash flow guidance
WFRDWeatherford International plc
Weatherford International plc reported third-quarter revenue of $1.14 billion and adjusted EBITDA of $254 million, with net income rising to $120 million on a 10.5% margin. The company increased its full-year adjusted free cash flow guidance and announced the redemption of $236 million in senior notes due 2030. Additionally, shareholders approved the proposed redomestication from Ireland to Delaware, expected to generate annual savings of $20 million to $30 million starting in 2027. Weatherford is a global energy services company that provides drilling, completions, and production solutions.