Weatherford Q1 revenue +15% to $1.36B; adj. EBITDA margin 24.7%, raises FY guidance

ews Release Weatherford Announces First Quarter 2024 Results and Raises Full Year Margin Guidance • First quarter revenue of $1,358 million increased 15% year-over-year, led by international growth of 21% • First quarter operating income of $233 million increased 26% year-over-year • First quarter net income of $112 million, an 8.2% margin, increased 56% year-over-year • First quarter adjusted EBITDA* of $336 million, a 24.7% margin and the highest in over 15 years, increased 25% and 206 basis points year-over-year • Cash provided by operating activities of $131 million, and adjusted free cash flow* of $82 million • Debt repayments of $167 million on our 6.50% Senior Secured Notes in the first quarter of 2024 • Issued notice to redeem the remaining $82 million of our 6.5% Senior Secured Notes, leaving only the $1.6 billion long term notes due 2030 outstanding thereafter • Expanded the si