Business
Weatherford Announces First Quarter 2025 Results
First quarter revenue of $1,193 million decreased 12% year-over-yearFirst quarter operating income of $142 million decreased 39% year-over-yearFirst quarter
About this update from Weatherford International Plc
[{"type":"text","content":"First quarter revenue of $1,193 million decreased 12% year-over-yearFirst quarter operating income of $142 million decreased 39% year-over-yearFirst quarter net income of $76 million, a 6.4% margin, decreased 32% year-over-yearFirst quarter adjusted EBITDA* of $253 million, a 21.2% margin, decreased 25%, or 354 basis points, year-over-yearFirst quarter cash provided by operating activities of $142 million and adjusted free cash flow* of $66 millionRepurchased $34 million of 8.625% Senior Notes due 2030 in the first quarter of 2025Shareholder return of $71 million for the quarter, which included dividend payments of $18 million and share repurchases of $53 millionBoard approved quarterly cash dividend of $0.25 per share, payable on June 5, 2025, to shareholders of record as of May 6, 2025As part of its portfolio optimization strategy, Weatherford completed the sale of its Pressure Pumping business in Argentina on April 1, 2025Signed a strategic agreement with Abu Dhabi-based AIQ to bring transformative efficiency to energy production, leveraging advanced automation, data-driven insights, and the power of AI technology *Non-GAAP - refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled HOUSTON, April 22, 2025 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) announced today its results for the first quarter of 2025. Revenues for the first quarter of 2025 were $1,193 million, a decrease of 12% year-over-year and 11% sequentially. Operating income was $142 million in the first quarter of 2025, compared to $233 million in the first quarter of 2024 and $198 million in the fourth quarter of 2024. Net income in the first quarter of 2025 was $76 million, with a 6.4% margin, a decrease of 32%, or 188 basis points year-over-year and 32%, or 198 basis points, sequentially. Adjusted EBITDA* was $253 million, a 21.2% margin, a decrease of 25%, or 354 basis points, year-over-year and 22%, or 310 basis points, sequentially. Basic income per share in the first quarter of 2025 was $1.04, compared to $1.54 in the first quarter of 2024 and $1.54 in the fourth quarter of 2024. Diluted income per share in the first quarter of 2025 was $1.03, compared to $1.50 in the first quarter of 2024, and $1.50 in the fourth quarter of 2024. First quarter 20...