NASDAQ$WFRD
Weatherford International plc · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
Weatherford's financial performance declined sequentially and year-over-year, but showed improvements in cost savings and liquidity.
Weatherford International plc reported revenues of $807 million for Q3 2020, a 2% sequential decrease and a 39% year-over-year decrease. The company's operating loss was $60 million, and the net loss was $174 million. However, the company achieved $107 million in unlevered free cash flow and total cash of $1.3 billion, enhanced by cost savings and financing transactions.
- Revenues declined 2% sequentially, with North America growth of 2% offset by international declines of 3%.
- Operating loss was $60 million, with adjusted EBITDA at $104 million.
- Cash flows from operations reached $127 million, and unlevered free cash flow was $107 million.
- Total cash was $1.3 billion as of September 30, 2020, following liquidity-enhancing transactions.
Headline financials
Revenue & EPS history
Weatherford · Revenue · Quarterly
$807M
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
While the market outlook remains cautious, Weatherford is encouraged by the stabilization of activity in certain geographies and a gradual path to recovery in others.
Tailwinds
- Activity stabilization in certain geographies.
- Gradual path to recovery in others.
- Extended runway for capitalizing on new opportunities.
- Focus on leveraging sustainable competitive advantages.
- Refining company strategy
Headwinds
- Cautious market outlook.
- Impact of activity reductions.
- Need for further cost and efficiency improvements.
- Reliance on cost savings plan.
- COVID-19 pandemic
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports
+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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