Quarterly ResultJul 21, 2026, 04:32 PM
Weatherford Q2 Revenue $1.11B, Net Income $39M; Acquires NCS
AI Summary
Weatherford International plc announced its second quarter 2026 results, reporting revenues of $1,105 million, a 4% sequential decrease, and net income of $39 million, down 64% sequentially. Despite the decline in top-line and net income, the company achieved strong cash flow, with adjusted free cash flow increasing 64% sequentially to $139 million. The company also announced the acquisition of NCS Multistage to strengthen its completions portfolio and an updated plan to redomesticate to Delaware, aiming for $20-30 million in annual cash savings.
Key Highlights
- Q2 2026 Revenue was $1,105 million, a 4% sequential and 8% year-over-year decrease.
- Q2 2026 Net Income was $39 million, a 64% sequential and 71% year-over-year decrease.
- Q2 2026 Adjusted EBITDA was $223 million, a 4% sequential decrease.
- Q2 2026 Adjusted Free Cash Flow was $139 million, a 64% sequential and 76% year-over-year increase.
- Announced the acquisition of NCS Multistage, expanding well completions portfolio.
- Introduced an updated plan to redomesticate to Delaware, expecting $20-30 million annual cash savings.
- Shareholder return for the quarter was $36 million, including $20 million in dividends and $16 million in share repurchases.
- DRE segment revenue decreased 9% sequentially to $291 million, impacted by Middle East geopolitical tensions.
Price Impact
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