Weatherford Q3 revenue $1.12B, net income $28M; adj. EBITDA margin 19.1%, FCF $133M

Weatherford International plc

2022-Q3 EPS reported -$0.65 revenue$3,122,000,000

Q3 revenue $1,120M (+5% seq, +19% YoY); net income $28M vs $6M in Q2 and -$95M in Q3 2021.
Adjusted EBITDA $214M (19.1% margin, +160bps seq); operating income $121M.
Free cash flow $133M, up $74M sequentially on higher margins and working capital efficiency.
Redeemed $50M of 11% notes in Aug; issued notice to redeem additional $125M in Nov.
Full-year 2022 revenue now expected to grow high-teens YoY; EBITDA margins to expand >200bps YoY.

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