Despite challenges with revenue due to delays and market softening, Weatherford demonstrated strong margins, cash flow, and international growth, particularly in the Middle East. Strategic initiatives such as dividends, share buybacks, and acquisitions are positioning the company well for future growth.

Company Guidance

During the Weatherford International Third Quarter 2024 Earnings Call, the company provided guidance indicating a resilient performance despite market challenges. Adjusted EBITDA margins were reported at 25.2%, with a year-on-year margin expansion of nearly 200 basis points. The company generated adjusted free cash flow of $184 million, translating to a 52% cash flow conversion rate. Revenues were up 7% year-over-year, driven by a 9% increase in international revenue, although they came in at the lower end of expectations due to delays in Latin America and scheduling shifts in the Middle East and North Africa. The company maintained a strong balance sheet with a net leverage ratio of approximately 0.5x and continued its commitment to shareholder returns through a $0.25 per share quarterly dividend and $50 million in share repurchases. Looking ahead, Weatherford anticipates continued growth in selective international markets and aims for approximately 20% year-on-year adjusted EBITDA growth, with adjusted free cash flow exceeding $500 million for the year.

Strong Margin and Cash Performance

Adjusted EBITDA margins were 25.2% and adjusted free cash flow was $184 million, with a conversion rate of 52%.

International Revenue Growth

International revenue increased by 9% year-over-year, marking 14 consecutive quarters of year-over-year growth in this segment.

Significant Growth in the Middle East

The Middle East, North Africa, and Asia region saw year-to-date growth of 29% in Saudi Arabia and 25% in the broader region.

Introduction of Quarterly Dividend

Weatherford paid its first quarterly dividend of $0.25 per share and repurchased $50 million of shares.

Strategic Acquisitions

Acquired Datagration and integrated it into the digital solutions portfolio, enhancing real-time analysis and decision-making capabilities.

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Weatherford International (WFRD) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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WFRD Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 27, 2018	2018 (Q2)	- / -230.77	-403.842	42.86% (+173.07)	―	―
Oct 29, 2018	2018 (Q3)	- / -144.23	-317.304	54.55% (+173.07)	―	―
Feb 01, 2019	2018 (Q4)	- / -201.92	-475.957	57.58% (+274.04)	―	―
May 10, 2019	2019 (Q1)	- / -206.59	-274.035	24.61% (+67.44)	―	―
Mar 16, 2020	2019 (Q4)	- / -0.85	-201.921	99.58% (+201.07)	―	―
May 11, 2020	2020 (Q1)	- / -1.73	-206.593	99.16% (+204.86)	―	―
Aug 05, 2020	2020 (Q2)	- / -1.71	-302.882	99.44% (+301.17)	―	―
Nov 03, 2020	2020 (Q3)	- / -2.03	-0.18	-1027.78% (-1.85)	―	―
Feb 17, 2021	2020 (Q4)	- / -1.63	-0.986	-65.31% (-0.64)	―	―
May 05, 2021	2021 (Q1)	-1.20 / -1.66	-1.73	4.05% (+0.07)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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WFRD Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 22, 2024	$83.71	$80.91	-3.34%
Jul 23, 2024	$133.07	$120.90	-9.15%
Apr 23, 2024	$117.46	$124.34	+5.86%
Feb 06, 2024	$87.22	$93.44	+7.13%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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