NASDAQ$WFRD
Weatherford International plc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Weatherford's Q2 2024 results were announced, featuring revenue growth and the introduction of a shareholder return program.
Weatherford announced strong Q2 2024 results, with revenues of $1,405 million, a 10% increase year-over-year. The company also introduced its first-ever shareholder return program, including a $1 annual dividend per share and a $500 million share repurchase program.
- Revenues increased 3.5% sequentially and 10% year-over-year, reaching $1,405 million.
- Operating income rose by 13% sequentially and 31% year-over-year, totaling $264 million.
- Net income increased by 12% sequentially and 52% year-over-year, resulting in $125 million.
- The company launched a shareholder return program with a $1 annual dividend and a $500 million share repurchase program.
Headline financials
Revenue & EPS history
Weatherford · Revenue · Quarterly
$1.41B
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
The second half of the year is poised to deliver mid-single digits sequential revenue growth over the first half, with total year adjusted EBITDA margins expected to be slightly north of 25%. Second half adjusted free cash flow is expected to be materially higher than the first, reaffirming our expectation of adjusted free cash flow of over $500 million for the year.
Tailwinds
- Mid-single digits sequential revenue growth expected in the second half of the year.
- Total year adjusted EBITDA margins expected to be slightly north of 25%.
- Second half adjusted free cash flow is expected to be materially higher than the first.
- Adjusted free cash flow expected to be over $500 million for the year.
- Continued strength in international and offshore activity, spearheaded by the Middle East/North Africa/Asia region.
Headwinds
- Weather events caused revenue headwinds.
- Social unrest in Colombia led to reduced activity.
- Timing shifts in activity in some regions impacted revenue.
- Potential for global political disturbances, war, and terrorist attacks.
- Risks associated with climate change, environmental, social and governance initiatives.
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 Q2 2024
+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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