Weatherford Q1 revenue up 26% YoY to $1.186B; net income $72M, up 190%

Weatherford International plc

2023-Q1 EPS reported $0.97 revenue$1,186,000,000

Revenue $1,186M (+26% YoY); operating income $185M (+928% YoY); net income $72M (+190% YoY).
Adjusted EBITDA $269M (+78% YoY); margin 22.7%. Cash from ops $84M; adj. free cash flow $27M.
Repaid/redeemed $62M of senior notes in Q1; notice to redeem remaining $105M of 11% notes due 2024.
Over $1.2B in global commercial wins; launched new technology offerings in all three segments.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Weatherford International plc reported the first quarter ended March 31, 2023 results: revenue $1,186 million, net income $72 million.

Period: the first quarter ended March 31, 2023
Revenue: $1,186 million
Net income: $72 million
Result: reported results

Exact text from the filing

• Revenues of $1,186 million increased 26% year-over-year • Operating income of $185 million increased 928% year-over-year • Net income of $72 million increased 190% year-over-year; net income margin of 6.1%

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Source: SEC EDGAR

accession 0001603923-23-000099

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