Weatherford International Plc · NASDAQ:WFRD
Weatherford International — Q1 2025 Earnings Presentation
33 slides from Weatherford International's earnings presentation, Apr 23, 2025
Slide 1: Q1'25 Investor Presentation
Q1’25 INVESTOR PRESENTATION Weatherford International PLC Weatherford International Plc. 1
Slide 2: Disclaimer
Disclaimer This presentation contains projections and forward-looking statements concerning, among other things, the Company’s quarterly and full-year revenues, adjusted EBITDA*, adjusted EBITDA margin*, adjusted free cash flow*, net leverage*, ROIC*, shareholder return program, forecasts or expecta
Slide 3: Q1'25 Financial Results - Highlights
Q1’25 FINANCIAL RESULTS - HIGHLIGHTS NASDAQ: WFRD ABOUT WEATHERFORD FINANCIAL HIGHLIGHTS 75 Countries & 320 Locations Q1’25 Operating Cash Flow of $142M REVENUE ~18,000 Team Members with >110 Adj. Free Cash Flow* of $66M nationalities Net Income of $76M & Basic Earnings per 11% Sqtly. ~7
Slide 4: Shareholder Return Update
SHAREHOLDER RETURN UPDATE Weatherford International Plc. 4
Slide 5: Robust Balance Sheet & Liquidity
Robust Balance Sheet & Liquidity Total Liquidity Cash Balance Net Leverage* $1.3 billion $930 million 0.5x Unrestricted Cash & Cash & Restricted Cash Net Debt / TTM Adj. EBITDA* Credit Facility Revolving Credit Facility (RCF) Debt Reduction O/S Maturities $720 million >$1 billion <$1.6 billion Amend
Slide 6: Capital Allocation Framework
Capital Allocation Framework 1 2 BUSINESS 3 4 5 BALANCE SHEET INVESTMENT M&A DIVIDENDS BUYBACKS Through Cycle Resiliency Capex: 3-5% of Revenues Disciplined Approach Annual Dividend at $500M Share Repurchase Maintain ~$1B Liquidity Technology Investment to Strategic Advantage $1.00/S
Slide 7: Q1'25 Segment Overview
Q1’25 SEGMENT OVERVIEW Weatherford International Plc. 7
Slide 8: Drilling and Evaluation
Drilling and Digitally Enabledand Completions Victus®Production and Intervention Centro Real-Time Evaluation Well Construction Centro Well Construction Offerings Intelligent MPD Planning and Optimization Platform Drilling Data Services OPERATIONAL & TECHNOLOGY HIGHLIGHTS: Q1'25 Q1'25 Revenue Differe
Slide 9: Well Construction and Completions
Well Construction Digitally Well Enabledand Completions Vero® Production Construction Automatedand Intervention Accuview® Real-time and Completions Offerings Connection Integrity Remote Support OPERATIONAL & TECHNOLOGY HIGHLIGHTS: Q1'25 Middle East Q1'25 PDO Oman awarded a five-year Integrated Rev
Slide 10: Production and Intervention
Production and Digitally Well Enabledand Completions Weatherford Construction Autonomous Production and Intervention Cygnet® SCADA Platform ForeSite® Flow: Hybrid Physical Intervention Offerings Surveillance Program for Industrial Operations and Virtual Flow Measurement OPERATIONAL & TECHNOLOGY HIGH
Slide 11: Digital Solutions Overview
Digital Solutions Overview The Modern Edge Unified Data Model WFRD Software Launchpad Unified Data Model SCADA & SSADA SCADA & SSADA Out of the box solution that enables the customers to normalize all operations data Sensors Flow Meters IoT Sensors Sensors Flow Meters IoT Sensors from multiple gener
Slide 12: Strategic Priorities Update
STRATEGIC PRIORITIES UPDATE Weatherford International Plc. 12
Slide 13: Our Mission, Our Vision
Our Mission Producing energy for today and tomorrow. Our Vision As a global leader in energy services, operators trust Weatherford to drive maximum value, streamline operations, and enhance safety. In partnership with our customers, we are committed to producing innovative energy solutions that are
Slide 14: Strategic Priorities 2025 Tactical Focus Areas Goal
STRATEGIC PRIORITIES 2025 TACTICAL FOCUS AREAS GOAL Financial Performance Net Working Capital Efficiency Customer Experience Sustainable Organizational Vitality Profitability Growth Vectors Positive LEAN Operations Free Cash Flow Structural Cost Creating The Future Weatherford International Plc. 14
Slide 15: Our Strategic Priorities
Our Strategic Priorities Q1’25 Adj. FCF* conversion ratio at 26.1% FINANCIAL PERFORMANCE 2024 ROIC* of 24.4% and ROA[1] of 9.3% 24 years LTI [2] -free for liner hangers and inflates contract with PDO CUSTOMER EXPERIENCE In North America, successfully deployed the ForeSite® Power Regenerative
Slide 16: Financial Performance Update
FINANCIAL PERFORMANCE UPDATE Weatherford International Plc. 16
Slide 17: Consolidated Revenue Performance
Q1’25 Consolidated Revenue Performance Revenue & Adj. EBITDA Margins* Q1’25 Geography Revenue Change (%) Seq. (%) YoY (%) $1,500 24.7% 24.3% 21.2% 1% $1,400 $1,300 (4%) (6%) (7%) $1,200 (12%) (11%) $1,100 $1,358 $1,341 (23%) $1,193 $1,000 (35%) $900 NAM LAM MENA ESSR Q1'24 Q4'24 Q1'25 Revenue ($ mil
Slide 18: Consolidated Financial Summary
CONSOLIDATED FINANCIAL SUMMARY ($ in millions, except per share data) INCOME STATEMENT Q1’25 Δ Seq. Δ YoY Services Revenue $741 (7%) (14%) Products Revenue $452 (17%) (8%) Revenue: 12% YoY decrease in Total Revenues $1,193 (11%) (12%) Q1’25, primarily driven by lower Operating Income $142 (28%) (3
Slide 19: Drilling & Evaluation
Q1’25 Drilling & Evaluation ($ in Millions) Q1'25 Q4’24 Q1’24 Seq (%) YoY (%) Revenue $350 $398 $422 (12%) (17%) Segment Adj. EBITDA $74 $96 $130 (23%) (43%) Segment Adj. EBITDA margin (%) 21.1% 24.1% 30.8% (298 bps) (966 bps) Segment Revenue Commentary: YoY decline of 17%, primarily from lower Dr
Slide 20: Well Construction & Completions
Q1’25 Well Construction & Completions ($ in Millions) Q1'25 Q4’24 Q1’24 Seq (%) YoY (%) Revenue $441 $505 $458 (13%) (4%) Segment Adj. EBITDA $128 $148 $120 (14%) 7% Segment Adj. EBITDA margin (%) 29.0% 29.3% 26.2% (28 bps) 282 bps Segment Revenue Commentary: YoY decline of 4%, primarily from lowe
Slide 21: Production & Intervention
Q1’25 Production & Intervention ($ in Millions) Q1'25 Q4’24 Q1’24 Seq (%) YoY (%) Revenue $334 $364 $348 (8%) (4%) Segment Adj. EBITDA $62 $78 $73 (21%) (15%) Segment Adj. EBITDA margin (%) 18.6% 21.4% 21.0% (287 bps) (241 bps) Segment Revenue Commentary: YoY decline of 4%, as lower international
Slide 22: Cash & Capital Discipline
Cash & Capital Discipline Disciplined increased in Capex, while delivering on adj. free cash flow* Q1’25 Highlights Adj. NWC* as % of TTM revenue in Q1’25 improved by ~85 bps Adj. NWC*: $1,350 million Q1’25 Capex: $77 million Adj. FCF*: $66 million vs. Q1’24 25.2% 6.5% 26.1% Repurchased $34 mill
Slide 23: Outlook
Q2’25/2025 Outlook Q2’25 2025 REVENUES $1,165 - $1,195 Million $4.6 - $5.0 Billion ADJUSTED $245 - $265 Million $975 - $1,100 Million EBITDA* Roughly flat with Q1 100 – 200 bps improvement in CASH FLOW Adj. Free Cash Flow* conversion *Non-GAAP – refer to the section titled Appendix Weatherford Inter
Slide 24: Why Invest in Weatherford
WHY INVEST IN WEATHERFORD 1 Differentiated suite of products and services with leading technologies across the portfolio 2 International and offshore relative stability and resilience LONG-TERM SHAREHOLDER 3 Top-tier operational and financial performance VALUE CREATION 4 Strategy towards asset light
Slide 25: Appendix
APPENDIX Weatherford International Plc. 25
Slide 26: Appendix A: Non-GAAP Financial Measures Defined
Appendix A Non-GAAP Financial Measures Defined (Unaudited) We report our financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, Weatherford’s management believes that certain non-GAAP financial measures (as defined under the SEC’s Regulation G and Item 10
Slide 27: Appendix B: GAAP to Non-GAAP Reconciled
Appendix B GAAP to Non-GAAP Financial Measures Reconciled (Unaudited) $ in Millions Quarters Ended 3/31/25 12/31/24 3/31/24 Revenues $ 1,193 $ 1,341 $ 1,358 Net Income Attributable to Weatherford $ 76 $ 112 $ 112 Net Income Margin 6.4% 8.4% 8.2% Adjusted EBITDA* $ 253 $ 326 $ 336 Adjusted EBITDA Mar
Slide 28: Appendix C: GAAP to Non-GAAP Reconciled
Appendix C GAAP to Non-GAAP Financial Measures Reconciled (Unaudited) $ in Millions Quarters Ended 3/31/25 12/31/24 9/30/24 6/30/24 3/31/24 Total Current Assets $ 3,264 $ 3,402 $ 3,400 $ 3,362 $ 3,312 Total Current Liabilities 1,567 1,696 1,667 1,691 1,800 Working Capital $ 1,697 $ 1,706 $ 1,733 $ 1
Slide 29: Appendix D: GAAP to Non-GAAP Reconciled
Appendix D GAAP to Non-GAAP Financial Measures Reconciled (Unaudited) $ in Millions 3/31/25 12/31/24 9/30/24 6/30/24 3/31/24 12/31/23 9/30/23 6/30/23 3/31/23 12/31/22 9/30/22 6/30/22 3/31/22 Short-term Borrowings and Current Portion of Long-term Debt $ 22 $ 17 $ 21 $ 20 $ 101 $ 168 $ 91 $ 33 $ 120 $
Slide 30: Appendix E: GAAP to Non-GAAP Reconciled
Appendix E GAAP to Non-GAAP Financial Measures Reconciled (Unaudited) $ in Millions Trailing Twelve Months Ending 3/31/25 12/31/24 3/31/24 Numerator Net Income Attributable to Weatherford $ 470 $ 506 $ 457 Denominator Average Total Shareholders' Equity $ 1,230 $ 1,103 $ 843 Net Income Attributable t
Slide 31: Appendix F: Supplemental Financial Information
Appendix F Supplemental Financial Information (Unaudited) $ in Millions Trailing Twelve Months Ending 3/31/25 12/31/24 3/31/24 Numerator Net Income Attributable to Weatherford $ 470 $ 506 $ 457 Denominator Average Total Assets¹ $ 5,072 $ 5,114 $ 4,900 ROA (Return on Assets) 9.3% 9.9% 9.3% Weatherfor
Slide 32: Appendix G: Supplemental Financial Information
Appendix G Supplemental Financial Information (Unaudited) $ in Millions Quarters Ended Selected Balance Sheet Data 3/31/25 12/31/24 3/31/24 12/31/23 3/31/23 Total Assets $ 5,054 $ 5,159 $ 5,090 $ 5,068 $ 4,709 Current Portion of Long-term Debt 22 17 101 168 120 Long-term Debt 1,583 1,617 1,629 1,715
Slide 33: Thank You
THANK YOU FOR FURTHER Weatherford.com Linkedin.com/Company/Weatherford COMPANY INFORMATION Facebook.com/Weatherford WE INVITE YOU TO VISIT @WeatherfordCorp YouTube.com/Weatherford @WeatherfordCorp Weatherford International Plc. 33
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