Quarterly ResultApr 21, 2026, 04:46 PM
Weatherford Q1 Net Income Up 42%; Proposes US Redomestication
AI Summary
Weatherford International plc reported mixed first-quarter 2026 results, with revenue decreasing 3% year-over-year to $1,152 million and adjusted EBITDA falling 8% to $233 million. Despite operational disruptions in the Middle East, net income surged 42% year-over-year to $108 million, and diluted EPS increased 44% to $1.49. The company also announced a proposal to reorganize its corporate structure by redomesticating from Ireland to the United States, with Texas as its new legal home, aiming to simplify operations and reduce complexity.
Key Highlights
- Q1 revenue of $1,152 million decreased 3% year-over-year.
- Q1 net income increased 42% year-over-year to $108 million.
- Q1 diluted EPS rose 44% year-over-year to $1.49.
- Q1 adjusted EBITDA decreased 8% year-over-year to $233 million.
- Company proposes redomestication from Ireland to the United States (Texas).