Weatherford Q4 rev $1.21B (+25% YoY); net income $72M; guides 2023 rev up low-double-digit to mid-teens

Weatherford International plc

2022-FY EPS reported $0.36 revenue$4,331,000,000

Q4 revenue $1,209M, up 8% QoQ and 25% YoY; full-year revenue $4,331M, up 19% YoY.
Q4 operating income $169M (+412% YoY); full-year net income $26M vs net loss $450M in 2021.
Q4 adjusted EBITDA $266M (22.0% margin), highest in >12 years; full-year adjusted EBITDA $817M (+43% YoY).
Free cash flow $171M in Q4; full-year FCF $299M; debt repayments of $214M through Jan 2023.
2023 guidance: revenue growth low-double-digit to mid-teens; EBITDA margin expansion at least 100 bps.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Weatherford International plc reported the fourth quarter and full year ended December 31, 2022 results: revenue $1,209 million, net income $72 million. Guidance reaffirmed.

Period: the fourth quarter and full year ended December 31, 2022
Revenue: $1,209 million
Net income: $72 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

section of the Company’s website. --- EX-99.1 (EX-99.1) --- News Release Weatherford Announces Fourth Quarter and Full Year 2022 Results • Fourth quarter revenues of $1,209 million, increased 8% sequentially and 25% year-over-year; full year revenues of $4,331 million, increased 19% from prior year, the highest growth rate in over 10 years • Fourth quarter

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Source: SEC EDGAR

accession 0001603923-23-000062

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