NASDAQ$WFRD
Weatherford International plc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Weatherford's Q3 2023 performance reflected top-line growth, margin expansion, and free cash flow generation, with adjusted EBITDA margins reaching a record high.
Weatherford International plc announced its Q3 2023 results, showcasing a 17% year-over-year increase in revenues to $1,313 million. The company's operating income rose to $218 million, and net income reached $123 million, a 339% increase year-over-year. Adjusted EBITDA was $305 million, a 43% increase year-over-year. The company also highlighted its enhanced liquidity and balance sheet flexibility through a new $550 million credit facility.
- Revenues for Q3 2023 were $1,313 million, up 17% year-over-year.
- Operating income reached $218 million, compared to $121 million in Q3 2022.
- Net income increased to $123 million, a 339% increase year-over-year.
- Adjusted EBITDA increased to $305 million, a 43% increase year-over-year.
Headline financials
Revenue & EPS history
Weatherford · Revenue · Quarterly
$1.31B
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 revenues to continue to grow in the fourth quarter and now expects full year adjusted EBITDA margins to expand over 400 basis points year-over-year, with adjusted free cash flow over $450 million.
Tailwinds
- Revenues expected to continue growing in Q4
- Full-year adjusted EBITDA margins are expected to expand over 400 basis points year-over-year
- Adjusted free cash flow expected to exceed $450 million
- Enhanced liquidity and balance sheet flexibility with new credit facility
- Strong momentum to close the year
Headwinds
- Global political disturbances
- Changes in global trade policies
- Weak local economic conditions and international currency fluctuations
- Cybersecurity issues
- Macroeconomic outlook for the oil and gas industry
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 Q3 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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