Welcome to our dedicated page for Weatherford news (Ticker: WFRD), a resource for investors and traders seeking the latest updates and insights on Weatherford stock.
Weatherford International plc (NASDAQ: WFRD) generates a steady flow of news related to its energy services business, digital initiatives, and financial performance. This page aggregates company announcements, earnings releases, technology launches, contracts, and capital markets activity so readers can follow developments affecting Weatherford stock and operations.
Recent Weatherford news includes quarterly earnings results, conference call announcements, and details on shareholder returns such as dividends and share repurchases. The company reports performance across its Drilling and Evaluation (DRE), Well Construction and Completions (WCC), and Production and Intervention (PRI) segments, providing insight into activity trends by segment and region.
Weatherford also issues news on technology and digital offerings. Examples include the launch of Weatherford Industrial Intelligence, a digital portfolio that combines physics-based and data-driven software, and updates from the FWRD 2025 conference, which showcases next-generation well technologies and digital transformation themes. Announcements highlight tools and systems such as rotary steerable technologies, advanced completions hardware, fiber-optic sensing, and AI-enabled software platforms.
Contract and project news features awards from national and international operators for services such as Managed Pressure Drilling, tubular running, cementation products, drilling fluids, artificial lift equipment and services, and real-time monitoring. Weatherford also releases information about credit rating upgrades, senior notes offerings, and tender offers, giving investors context on its capital structure and financial strategy.
Use this news feed to review Weatherford’s latest press releases, monitor segment performance commentary, and track updates on digital initiatives, contracts, and financing activities that may influence WFRD’s outlook over time.
Weatherford International plc (NASDAQ: WFRD) announced that H. Keith Jennings, Executive Vice President and CFO, will depart the Company effective July 31, 2022. His exit is not due to any disagreements related to financial practices. CEO Girish Saligram praised Jennings for his contributions, noting improvements in the Company’s capital structure and operating profile. The Company has begun a search for Jennings' replacement with the help of an executive search firm. Weatherford operates in about 75 countries, employing around 17,000 staff.
Weatherford announced its Q1 2022 financial results, reporting revenues of $938 million, a 13% year-over-year increase. Operating income stood at $18 million, a significant rebound from a loss of $13 million in Q1 2021. Adjusted EBITDA reached $151 million, marking a 48% increase year-over-year. However, the company's net loss was $80 million, an improvement from $116 million in Q1 2021. Cash used in operations was $64 million, indicating increased working capital demands. Noteworthy contracts were secured, enhancing future growth prospects.
Weatherford International will host a conference call on April 28, 2022, at 9:00 a.m. ET to discuss its results for the fiscal quarter ending March 31, 2022. A press release with results and presentation slides will precede the call. Participants can join via a live webcast or by phone. A replay will be available until May 12, 2022. Weatherford operates in over 75 countries with approximately 17,000 employees.
Weatherford International (NASDAQ: WFRD) provided an update on its operations in Russia amid the ongoing crisis in Ukraine. CEO Girish Saligram expressed sympathy for those affected and emphasized the company's focus on employee safety. Following sanctions imposed on February 24, 2022, Weatherford suspended shipments and new investments in Russia, ensuring compliance with international laws. The company has no active joint ventures in the region and remains committed to fulfilling existing contractual obligations.
Weatherford International plc (NASDAQ: WFRD) has released its 2021 Annual Report, outlining financial results, strategic objectives, and future priorities. The report showcases Weatherford's transformation from a turnaround project to a growth-focused company aiming for sustainable profitability and free cash flow. CEO Girish Saligram emphasized the company's significant achievements in 2021 and expressed optimism about future prospects. The report and Form 10-K for the year ending December 31, 2021, are accessible on the company's website.
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Weatherford International plc (NASDAQ: WFRD) reported a strong fourth quarter performance for 2021, with revenues reaching $965 million, up 15% year-over-year. The company achieved an operating income of $33 million, recovering from a loss of $107 million in Q4 2020. Although the net loss was $161 million, it was less than the previous year’s loss of $200 million. The full year saw revenues of $3.65 billion, with operating income improving from a loss of $1.5 billion in 2020 to $116 million in 2021. Notable achievements include lucrative contracts worth over $1 billion from major oil companies.
Weatherford International plc (NASDAQ: WFRD) announced a new reporting structure effective Q4 2021. The company now reports its results in three segments: Drilling and Evaluation, Well Construction and Completions, and Production and Intervention. This change aims to enhance organizational focus, drive customer collaboration, and facilitate growth opportunities. The transition has no impact on consolidated revenue or earnings per share. CEO Girish K. Saligram emphasized that this strategic alignment will leverage technological innovation for growth across the company's diverse portfolio.
Weatherford International plc (NASDAQ: WFRD) will host a conference call on February 17, 2022, at 9:00 a.m. ET to discuss its fourth quarter and full year results for the period ending December 31, 2021. Prior to the call, a press release will announce the results and presentation slides will be available on the company's investor relations website. Participants can access the call via a live webcast or by dialing in. A telephonic replay will be available until March 3, 2022.
Weatherford International plc (NASDAQ: WFRD) announced a credit rating upgrade from 'CCC+' to 'B-' by S&P Global Ratings on December 13, 2021. This upgrade reflects improved access to capital markets and the successful completion of refinancing and debt repayment transactions, which have extended the debt maturity profile. CEO Girish K. Saligram emphasized that this rating acknowledges the company's enhanced operating performance and focus on sustainable profitability.