NASDAQ$WFRD
Weatherford International plc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported a year-over-year revenue increase of 26% and operating income increase of 928%.
Weatherford International plc announced its first quarter 2023 results, with revenues of $1,186 million, a 26% increase year-over-year. Operating income was $185 million, a 928% increase year-over-year. Net income was $72 million, a 190% increase year-over-year. Adjusted EBITDA was $269 million, a 78% increase year-over-year.
- 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%
- Adjusted EBITDA of $269 million increased 78% year-over-year; adjusted EBITDA margin of 22.7%
Headline financials
Revenue & EPS history
Weatherford · Revenue · Quarterly
$1.19B
Revenue by segment
Weatherford · $955M total across 3 segments · Q4 2019
- Production and Intervention$380M—39.8%
- Well Construction and Completions$292M—30.6%
- Drilling and Evaluation$283M—29.6%
Forward guidance
Weatherford expects overall revenue to grow by mid-teens year-over-year in 2023 and adjusted EBITDA margins to expand by at least 250 basis points year-over-year, resulting in higher adjusted free cash flow generation than 2022.
Tailwinds
- Overall revenue to grow by mid-teens year-over-year in 2023.
- Adjusted EBITDA margins to expand by at least 250 basis points year-over-year.
- Higher adjusted free cash flow generation than 2022.
- Strong outlook for international activity continues to support a robust growth scenario.
- Spending pattern is more long-lasting and less prone to fluctuations in commodity prices compared to previous cycles.
Headwinds
- Macro volatility driven by geopolitical events.
- Inflation.
- Recessionary threats.
- Potential softness in the North America market.
- Offsetting North America softness with International demand on both land and offshore.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2023
+2.5%
Avg return
Earnings day
+5.7%
Avg return
5 days after
+3.4%
Avg return
30 days after
69%
18 / 26 earnings
Positive
+16.0%
Q4 2022
Best reaction
-10.0%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | — | — | — | |
| Q1 2026 | +1.6% | +10.1% | +9.1% | |
| Q4 2025 | +4.1% | +8.6% | -5.4% | |
| Q3 2025 | +0.5% | +5.7% | +9.9% | |
| Q2 2025 | -2.1% | -0.2% | +10.3% | |
| Q1 2025 | -7.2% | -6.3% | +1.2% | |
| Q4 2024 | +0.2% | +3.1% | -14.0% | |
| Q3 2024 | -4.2% | -5.2% | +0.7% | |
| Q2 2024 | -8.1% | -11.2% | -21.2% | |
| Q1 2024 | +8.6% | +11.2% | -0.3% | |
| Q4 2023 | +10.7% | +13.9% | +29.0% | |
| Q3 2023 | +0.2% | +0.6% | -0.3% | |
| Q2 2023 | +5.0% | +7.9% | +9.1% | |
| Q1 2023 | -1.6% | +3.0% | -5.6% | |
| Q4 2022 | +16.0% | +20.3% | +13.0% | |
| Q3 2022 | +7.1% | +9.1% | +12.7% | |
| Q2 2022 | +15.0% | +23.0% | +46.0% | |
| Q1 2022 | +3.8% | -4.9% | +3.8% | |
| Q4 2021 | +1.5% | -0.7% | -8.4% | |
| Q3 2021 | -2.5% | +11.6% | -7.9% | |
| Q2 2021 | +9.2% | +4.4% | -3.1% | |
| Q1 2021 | +9.3% | +13.3% | -6.2% | |
| Q4 2020 | -4.7% | +7.1% | +2.2% | |
| Q3 2020 | +4.6% | — | — | |
| Q2 2020 | +3.0% | — | — | |
| Q1 2020 | +5.6% | — | — | |
| Q4 2019 | -10.0% | — | — | |
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