NASDAQ$WFRD
Weatherford International plc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Announced fourth quarter and full year 2023 results, demonstrating revenue growth and strategic acquisitions.
Weatherford reported a strong fourth quarter and full year 2023, with revenue increasing by 13% year-over-year for the quarter and 19% for the full year. The company's operating income and net income also saw significant increases, and the adjusted EBITDA margin reached its highest level in over 15 years. Strategic acquisitions and contract wins position Weatherford for continued growth in 2024.
- Fourth quarter revenue increased 13% year-over-year to $1,362 million.
- Fourth quarter operating income increased 28% year-over-year to $216 million.
- Fourth quarter net income increased 94% year-over-year to $140 million.
- Adjusted free cash flow for the quarter was $315 million, driven by heightened collections.
Headline financials
Revenue & EPS history
Weatherford · Revenue · Quarterly
$1.36B
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 anticipates double-digit to low-teens revenue growth in 2024, driven by strong performance in the Middle East, and expects adjusted EBITDA margins to move towards 25%.
Tailwinds
- Market fundamentals remain positive.
- International and offshore activity continues to show resilience.
- Robust growth is expected in the Middle East.
- Adjusted EBITDA margins are expected to make meaningful progress towards the goal of 25%.
- Strategic acquisitions are expected to contribute to growth.
Headwinds
- Global political disturbances.
- Cybersecurity issues.
- Price and price volatility of oil and natural gas.
- Macroeconomic outlook for the oil and gas industry.
- Potential for a resurgence of a pandemic.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 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 |
|---|---|---|---|---|
| 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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