Quarterly ResultOct 20, 2026, 04:37 PM
Weatherford Q3 Revenue $1.14B; Net Income $120M; Acquires NCS Multistage
AI Summary
Weatherford International plc announced its third quarter 2026 results, reporting revenue of $1,143 million, a 3% sequential increase. The company saw significant sequential growth in operating income (up 43% to $153 million) and net income (up 208% to $120 million). Adjusted EBITDA also increased by 14% sequentially to $254 million. Key strategic developments during the quarter included the completion of the NCS Multistage acquisition, shareholder approval for redomestication to Delaware, and the issuance of a notice to redeem $236 million in senior notes. The company also secured a contract extension and new award from Equinor.
Key Highlights
- Weatherford Q3 revenue $1,143M, up 3% sequentially, down 7% YoY.
- Q3 operating income $153M, up 43% sequentially, down 14% YoY.
- Q3 net income $120M, up 208% sequentially, up 48% YoY.
- Q3 adjusted EBITDA $254M, up 14% sequentially, down 6% YoY.
- Completed acquisition of NCS Multistage Holdings, Inc.
- Shareholder approval received for redomestication to Delaware.
- Notice issued to redeem $236M of 8.625% Senior Notes due 2030.
- Equinor awarded Weatherford a two-year extension and new offshore completions award.
Price Impact
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