Weatherford Q2 revenue $1.4B up 10% YoY; initiates first-ever dividend and $500M buyback

Weatherford International plc

2024-Q2 EPS reported $3.16 revenue$2,763,000,000

Revenue $1,405M (+10% YoY); net income $125M (+52% YoY); operating income $264M (+31% YoY).
Adjusted EBITDA $365M (margin 26.0%, +314 bps YoY); adjusted free cash flow $96M.
First-ever shareholder return: quarterly dividend $0.25/share ($1 annual), $500M repurchase through June 2027.
Redeemed 6.5% Senior Secured Notes; net leverage 0.5x; credit facility expanded to $720M.
Appointed Steven Beringhause to board (now 6 directors); launched ForeSite EDGE 2.0 automation solution.

item 2.02 item 5.02 item 8.01 item 9.01

Executive movements

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Appointed

Steven Beringhause

Director

WFRD · Weatherford International plc

Effective: 2024-07-23
Filed: July 23, 2024, 7:59 PM ET

On July 23, 2024, the Board increased the size of the Board to six directors and appointed Steven Beringhause to fill the resulting vacancy.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Steven Beringhause was appointed as Director at Weatherford International plc.

Action: appointed
Role: Director

Exact text from the filing

On July 23, 2024, the Board increased the size of the Board to six directors and appointed Steven Beringhause to fill the resulting vacancy.

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Weatherford International plc filing history →

Source: SEC EDGAR

accession 0001603923-24-000107

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