Weatherford Tops Q3 Estimates With $1.14B Revenue and $254M EBITDA
WFRD sits 26% above its 52-week low of $62.84.
Summary
Weatherford beat on both lines for Q3: revenue of $1,143 million came in above the $1,134 million IBES estimate, and adjusted EBITDA of $254 million topped the $249.6 million consensus. Net income was $120 million and EPS was $1.66. The beats are modest — roughly 1% on revenue and under 2% on EBITDA — so this is a solid but not blowout quarter, with revenue falling due to disruptions in the Middle East. Events in the Middle East have dampened expectations of a quick recovery, though the company still sees a meaningful ramp in adjusted EBITDA in 4Q. It lands alongside the company's move to redeem all $236 million of its 8.625% 2030 notes on October 30, which cuts interest costs and follows the September shareholder approval of the Ireland-to-Delaware redomestication. The offshore completions award and Equinor contract extension reported October 8 support the top line. Watch the earnings call for margin detail and any update on the NCS Multistage integration completed September 1.
At the time of this announcement, WFRD was trading at $79.34 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $5.8B. The 52-week trading range was $62.84 to $113.15. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.