Weatherford International PLC
F:0WE
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Weatherford International PLC
Weatherford International makes equipment and services used to drill, complete, produce, and repair oil and gas wells. It sells tools such as drilling systems, completion hardware, well intervention equipment, artificial lift systems, and related software and support. The company helps customers build wells, keep them flowing, and fix problems underground where access is difficult. Its main customers are oil and gas producers, national oil companies, drilling contractors, and other field operators. Weatherford earns money by selling equipment, renting tools, and charging for services, maintenance, and support work at the well site. Some of its business comes from recurring demand to maintain installed equipment and respond when wells need repairs or optimization. Weatherford sits in a middle layer of the energy value chain: it is not an oil producer, but it provides the specialized hardware and field services that producers need to work wells efficiently. That makes its business closely tied to drilling and production activity, with a focus on technical know-how, field execution, and equipment that must work in harsh conditions.
Weatherford International makes equipment and services used to drill, complete, produce, and repair oil and gas wells. It sells tools such as drilling systems, completion hardware, well intervention equipment, artificial lift systems, and related software and support. The company helps customers build wells, keep them flowing, and fix problems underground where access is difficult.
Its main customers are oil and gas producers, national oil companies, drilling contractors, and other field operators. Weatherford earns money by selling equipment, renting tools, and charging for services, maintenance, and support work at the well site. Some of its business comes from recurring demand to maintain installed equipment and respond when wells need repairs or optimization.
Weatherford sits in a middle layer of the energy value chain: it is not an oil producer, but it provides the specialized hardware and field services that producers need to work wells efficiently. That makes its business closely tied to drilling and production activity, with a focus on technical know-how, field execution, and equipment that must work in harsh conditions.
Q1 held up: Weatherford reported Q1 2026 revenue of $1.152 billion, adjusted EBITDA of $233 million, and adjusted free cash flow of $85 million, with collections especially strong in Mexico.
Middle East hit: Management said the Iran conflict disrupted operations, lifted freight and logistics costs, and will likely weigh more heavily in Q2, with a first-half profit impact estimated at about $30 million to $50 million.
Outlook improved: Despite near-term disruption, management turned more constructive on the second half of 2026 and said it is increasingly confident about growth into 2027.
Guidance cut: Full-year 2026 revenue guidance was refined to $4.5 billion to $4.95 billion and adjusted EBITDA to $945 million to $1.075 billion, reflecting the first-half conflict impact.
Cash flow strong: Free cash flow conversion improved, and management now expects 2026 free cash flow conversion in the mid-40% range, helped by better working capital and continued Mexico collections.
Strategic moves: The company announced a proposal to re-domesticate from Ireland to Texas and continues to prune noncore businesses to improve margins and capital intensity.
Demand tone stronger: Management said energy security concerns are driving new customer conversations and could support a more durable upcycle in offshore, international, and intervention markets.
