Weatherford International plc

Weatherford International plc announced a definitive merger agreement to acquire NCS Multistage Holdings, Inc., expected to close in H2 2026. The company also reported Q2 2026 revenue of $1.11 billion, a decrease from $1.20 billion in Q2 2025, and diluted EPS of $0.55, down from $1.87 in the prior year. Additionally, Weatherford is proposing to redomesticate from Ireland to Delaware, with shareholder meetings scheduled for September 3, 2026. The Board declared a cash dividend of $0.275 per share.

Weatherford International plc reported Q2 2026 results with revenue of $1,105 million, down 4% sequentially, and net income of $39 million, a 64% sequential decrease, primarily due to the Iran conflict. Despite the financial declines, the company announced the acquisition of NCS Multistage to strengthen its completions portfolio and an updated plan to redomesticate to Delaware, projected to generate $20-30 million in annual cash savings. Adjusted free cash flow was strong at $139 million, up 64% sequentially, and the company returned $36 million to shareholders.

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.

Weatherford International plc announced it will hold Special Shareholder Meetings on September 3, 2026, to consider its proposed redomestication from Ireland to Delaware. The Board of Directors unanimously recommends shareholders vote FOR the proposals, anticipating annual cash savings of approximately $20 million to $30 million starting in 2027. The company believes this move will simplify its structure and support its long-term strategy. Shareholders must submit new voting instructions for both the Scheme Meeting and the Extraordinary General Meeting.

Weatherford International plc is seeking shareholder approval to redomicile its ultimate parent company from Ireland to Delaware, United States. This strategic move, which requires approval at two shareholder meetings on September 3, 2026, aims to simplify the company's organizational, statutory, and regulatory structure, and enhance efficiencies across corporate treasury, cash management, risk management, and tax functions. The Board unanimously recommends shareholders vote in favor of all related proposals, noting that the Nasdaq listing will continue under the "WFRD" ticker.

Weatherford International plc announced it will host a conference call on Wednesday, July 22, 2026, to discuss its second quarter results for the period ended June 30, 2026. The call is scheduled for 8:30 a.m. Eastern Time. Prior to the call, the company will issue a press release with results and upload presentation slides to its investor relations website. A replay of the conference call will be available until August 05, 2026.

Weatherford International plc shareholders rejected the proposed redomestication from Ireland to Texas at a Special Court-Convened Meeting and Annual General Meeting. While the proposal received over 60% support, it failed to meet the requisite 75% threshold. The company stated that redomestication remains a priority and intends to present an updated proposal to redomesticate to Delaware at a future meeting. Additionally, shareholders approved the Fifth Amended and Restated 2019 Equity Incentive Plan, increasing issuable shares by 565,000, elected all director nominees, ratified KPMG as auditor, and approved executive compensation.

Weatherford International plc announced the results of its shareholder meetings, where routine matters were approved. Shareholders voted on a proposed redomestication from Ireland to Texas, U.S. While over 60% of votes supported the proposals, they did not meet the higher 75% approval threshold required to pass. The company, encouraged by the majority support, plans to present an updated proposal in the coming weeks to redomicile to Delaware, U.S., at a future meeting.

Weatherford International plc is urging shareholders to approve its redomestication from Ireland to the U.S., citing expected annual cash savings of $20 million to $30 million starting in 2027. The company believes this move will enhance long-term shareholder value by simplifying its corporate structure, improving financial and operational flexibility, and easing M&A processes. Despite recommendations against it from certain proxy advisory firms, Weatherford's management and board strongly advocate for the proposal, emphasizing its track record of shareholder value creation.

Weatherford International plc announced it entered into an Agreement and Plan of Merger with NCS Multistage Holdings, Inc. on May 31, 2026. Weatherford's indirect wholly owned subsidiary, Trinity Bell Sub, Inc., will merge with NCS Multistage, which will survive as a wholly owned subsidiary of Weatherford. NCS Multistage stockholders can elect to receive Weatherford ordinary shares or a mix of shares and cash, subject to proration. The merger is expected to close in the third quarter of 2026, pending regulatory approvals.