Weatherford Q2 revenue $1,274M (+7% seq), net income $82M; raises full-year outlook

Weatherford International plc

2023-Q2 EPS reported $2.11 revenue$2,460,000,000

Revenue $1,274M (+7% sequentially), driven by 12% international revenue growth.
Net income $82M ($10M increase QoQ); net income margin 6.4%.
Adjusted EBITDA $291M (22.8% margin), up 8% sequentially; raised full-year outlook.
Cash from operations $201M; adjusted free cash flow $172M; debt repayments $159M in Q2.
First deployment of Modus MPD system and launch of StringGuard dropped-string prevention tech.

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 second quarter ended June 30, 2023 results: revenue $1,274 million, net income $82 million. Guidance raised.

Period: the second quarter ended June 30, 2023
Revenue: $1,274 million
Net income: $82 million
Guidance: raised
Result: reported results

Exact text from the filing

News Release Weatherford Announces Second Quarter 2023 Results and Raises Full-Year Outlook • Revenues of $1,274 million increased 7% sequentially, driven by international revenue growth of 12% • Operating income of $201 million increased 9% sequentially • Net income of $82 million increased $10 million sequentially; net income margin of 6.4%

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Source: SEC EDGAR

accession 0001603923-23-000121

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