Weatherford Stock Price, News & Analysis

Weatherford International (NASDAQ: WFRD) has released its 2024 Sustainability Report, highlighting the company's progress in environmental, social, and governance (ESG) practices. CEO Girish Saligram emphasized the company's commitment to sustainability as a core operational component, focusing on creating a sustainable future through continuous improvement and ambitious target-setting.

Weatherford operates in approximately 75 countries with 18,000 team members representing over 110 nationalities across 320 operating locations. The company specializes in delivering innovative energy services that combine proven technologies with advanced digitalization to create sustainable solutions for maximized value and return on investment.

Weatherford International (NASDAQ: WFRD) has announced the appointment of Anuj Dhruv as Executive Vice President and Chief Financial Officer. The announcement was made by CEO Girish Saligram, who emphasized Dhruv's fresh perspective and proven expertise as valuable additions to the leadership team.

Dhruv's appointment is positioned as a strategic move to enhance Weatherford's focus on delivering high returns for shareholders, leveraging his experience across multiple industries and leadership roles in finance. The company also acknowledged the contributions of outgoing executive Arun Mitra.

Weatherford (NASDAQ: WFRD) reported declining financial results for Q1 2025, with revenue falling 12% year-over-year to $1,193 million. The company's operating income decreased 39% to $142 million, while net income dropped 32% to $76 million with a 6.4% margin.

Key financial metrics include adjusted EBITDA of $253 million (21.2% margin), representing a 25% decrease, and adjusted free cash flow of $66 million. The company returned $71 million to shareholders through $18 million in dividends and $53 million in share repurchases.

The quarter was marked by significant market softening across key geographies, particularly in Mexico, the United Kingdom, and North America. Despite challenges, Weatherford completed the sale of its Pressure Pumping business in Argentina and secured several new contracts, including an eight-year extension in Kazakhstan and a five-year integrated completions contract with PDO Oman.

Weatherford International (NASDAQ: WFRD) has announced a strategic partnership with Abu Dhabi-based AIQ to enhance energy production efficiency through AI technology integration. The collaboration will combine Weatherford's software and hardware solutions with AIQ's AI systems to optimize production workflows and reduce operational downtime.

The partnership focuses on three key areas:

• Modern Edge Integration: Combining AIQ's AI technology with Weatherford's Modern Edge for scalable work processes and autonomous production
• Unified Data Model: Integration of Weatherford's Universal Normalizer with AIQ's capabilities for harmonized multi-asset data analysis
• WFRD Software Launchpad: A comprehensive industrial SaaS platform providing single-point access to all applications

This strategic alliance aims to deliver cutting-edge solutions that enable operators to maximize operational efficiency, enhance automation, and reduce costs in the energy sector.

Weatherford International (NASDAQ: WFRD) has released its 2024 Digital Annual Update, showcasing the company's financial performance and technological innovations throughout the year. The interactive digital report outlines achievements and strategic initiatives aimed at creating long-term value for stakeholders.

CEO Girish Saligram highlighted that 2024 marked a year of significant milestones for Weatherford, featuring record-breaking operational performance and strengthened industry leadership. The company's progress was driven by strategic acquisitions, innovation focus, and commitment to safety and quality standards.

Weatherford International (NASDAQ: WFRD) has scheduled its first-quarter 2025 conference call for Wednesday, April 23, 2025 at 8:30 a.m. Eastern Time. The company will release its Q1 2025 financial results and presentation slides before the call.

Investors can join via webcast or by phone after registering. Dial-in numbers are +1 877-328-5344 (U.S.) or +1 412-902-6762 (international). A replay will be available until May 7, 2025, at +1 877-344-7529 (U.S.) or +1 412-317-0088 (international) using conference number 6907941.

Weatherford is a global energy services provider operating in 75 countries through 330 locations, employing 19,000 team members from over 110 nationalities. The company specializes in integrating proven technologies with advanced digitalization to create sustainable energy solutions.

Weatherford (NASDAQ: WFRD) reported Q4 2024 results with revenue of $1,341 million, down 5% sequentially and 2% year-over-year. Full year 2024 revenue reached $5,513 million, up 7% from 2023, driven by 10% international revenue growth.

Q4 operating income was $198 million, decreasing 19% sequentially and 8% year-over-year. Net income was $112 million (8.4% margin), down 29% sequentially. The company generated $249 million in operating cash flow and $162 million in adjusted free cash flow during Q4.

The company returned $67 million to shareholders in Q4 through dividends ($18 million) and share repurchases ($49 million). The Board approved a quarterly cash dividend of $0.25 per share, payable March 19, 2025.

Despite challenging Q4 conditions including reduced activity in Latin America, the company achieved record safety performance and strong margin expansion in 2024. Management remains optimistic about industry resilience and aims to achieve EBITDA margins in the high 20's over the next few years.

Weatherford International (NASDAQ: WFRD) has announced its upcoming fourth-quarter and full-year 2024 earnings conference call, scheduled for Thursday, February 6, 2025, at 8:30 a.m. Eastern Time. The company will release its financial results and presentation slides before the call.

Participants can join via live webcast or by phone after registering. Dial-in numbers are +1 877-328-5344 (U.S.) or +1 412-902-6762 (international). A replay will be available until February 20, 2025, accessible at +1 877-344-7529 (U.S.) or +1 412-317-0088 (international) using conference number 9530137.

Weatherford International (NASDAQ: WFRD) has secured a three-year contract from ADNOC for rigless services to reactivate onshore strings. The project, starting in Q4 2024, will involve deploying multiple intervention solutions to enhance operational efficiency of ADNOC's onshore assets. Weatherford will implement technologies focused on wellbore integrity, reactivation processes, and reservoir performance optimization. The company's rigless services are designed to revitalize inactive wells while minimizing environmental impact through efficient and cost-effective solutions.