Weatherford Q2 Earnings: Revenue and Income Slide, but Cash Flow Surges and Redomestication Plan Shifts to Delaware
WFRD sits 58% above its 52-week low of $52.701 on elevated volume (2.0× avg).
Summary
Weatherford reported Q2 2026 revenue of $1.105 billion, down 4% sequentially, with net income plunging 64% to $39 million. Adjusted free cash flow surged to $139 million, and the company shifted its redomestication plan to Delaware after the Texas proposal failed. New contract awards and a maintained dividend provide some support.
Key Events · Earnings and Guidance · WFRD
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Revenue and Earnings Decline
Q2 revenue of $1,105 million fell 4% sequentially and 8% year-over-year. Net income of $39 million dropped 64% sequentially and 71% year-over-year, with operating income down 13% sequentially and 55% year-over-year.
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Cash Flow Strength
Adjusted free cash flow reached $139 million, up 64% sequentially and 76% year-over-year, driven by improved working capital management and lower capex.
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Redomestication Plan Revised
After the Texas redomestication proposal failed to achieve 75% approval, Weatherford introduced an updated plan to redomicile to Delaware, targeting $20–30 million in annual cash savings beginning in 2027.
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Shareholder Returns Maintained
The company returned $36 million to shareholders in Q2 via $20 million in dividends and $16 million in share repurchases. A $0.275/share dividend was declared for September.
Analysis · WFRD · Energy & Transportation
Geopolitical disruption in the Middle East drove a sharp sequential decline in Weatherford's second-quarter revenue and net income. Yet adjusted free cash flow jumped 64% sequentially to $139 million, underscoring robust cash generation despite the headwinds. The company also announced a revised plan to redomicile to Delaware after the Texas proposal failed to secure the required 75% shareholder approval, aiming for $20–30 million in annual cash savings. Multiple new contract awards, including MPD contracts from Noble and Valaris, provide a positive offset. The mixed results—weaker earnings but stronger cash flow and strategic progress—are likely to move the stock.
How filings like this one have moved
In the 30 days to Sep 14, 2026, 35.8% of the 1045 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.43%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, WFRD was trading at $83.32 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $6B. The 52-week trading range was $52.70 to $113.15. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.