{"success":true,"data":{"pressRelease":{"id":"174707","rtpr_id":"nGNX6bZH66-20261020","ticker":"WFRD","exchange":"NASDAQ","all_tickers":["WFRD"],"title":"Weatherford Announces Third Quarter 2026 Results","author":"Globe Newswire","published_at":"2026-10-20T20:30:00.631Z","article_body":"* Third quarter revenue of $1,143 million increased 3% sequentially\n* Third quarter operating income of $153 million increased 43% sequentially\n* Third quarter net income of $120 million increased 208% sequentially; net\nincome margin of 10.5%\n* Third quarter adjusted EBITDA* of $254 million increased 14% sequentially;\nadjusted EBITDA margin* of 22.2% increased 204 basis points sequentially\n* Third quarter cash provided by operating activities of $192 million and\nadjusted free cash flow* of $155 million\n* Shareholder return of $47 million for the quarter, which included dividend\npayments of $19 million and share repurchases of $28 million\n* Completed the acquisition of NCS Multistage Holdings, Inc. (“NCS\nMultistage”) in a stock-and-cash transaction, strengthening Weatherford’s\ncompletions portfolio and expanding capabilities in reservoir diagnostics and\nwell performance solutions\n* Secured shareholder approval for the redomestication to Delaware, a\nstrategic initiative expected to generate approximately $20 million to $30\nmillion of annual cash savings beginning in 2027, subject to previously\ndisclosed regulatory and court approvals\n* Subsequent to quarter end, issued notice to redeem all of 8.625% Senior\nNotes due 2030 in an aggregate principal amount of $236 million, further\nimproving gross leverage* and enhancing future adjusted free cash flow\nconversion*\n* Equinor awarded Weatherford a two-year extension and a new offshore\ncompletions award, across several strategic frame agreements to provide its\nintegrated completions portfolio for the Statfjord and Oseberg licenses on the\nNorwegian Continental Shelf\n(*Non-GAAP – refer to the section titled Non-GAAP Financial Measures Defined\nand GAAP to Non-GAAP Financial Measures Reconciled)\n\nHOUSTON, Oct. 20, 2026 (GLOBE NEWSWIRE) -- Weatherford International plc\n(NASDAQ: WFRD) (“Weatherford” or the “Company”) announced today its\nresults for the third quarter of 2026.\n\nRevenues for the third quarter of 2026 were $1,143 million, an increase of 3%\nsequentially and a decrease of 7% year-over-year. Operating income in the\nthird quarter of 2026 was $153 million, an increase of 43% sequentially and a\ndecrease of 14% year-over-year. Net income in the third quarter of 2026 was\n$120 million, with a 10.5% margin, an increase of 208%, or 697 basis points,\nsequentially, and an increase of 48%, or 392 basis points, year-over-year.\nAdjusted EBITDA* was $254 million, with a 22.2% margin*, an increase of 14% or\n204 basis points, sequentially, and a decrease of 6% but an expansion of 39\nbasis points, year-over-year. Basic income per share in the third quarter of\n2026 was $1.66, an increase of 200% sequentially and an increase of 47%\nyear-over-year. Diluted income per share in the third quarter of 2026 was\n$1.66, an increase of 199% sequentially and an increase of 48% year-over-year.\n\nThird quarter 2026 cash flows provided by operating activities were $192\nmillion, an increase of 10% sequentially and an increase of 39%\nyear-over-year. Adjusted free cash flow* was $155 million, an increase of 12%\nsequentially and an increase of 57% year-over-year. Capital expenditures were\n$45 million in the third quarter of 2026, an increase of 7% sequentially and\nan increase of 2% year-over-year.\n\nGirish Saligram, President and Chief Executive Officer, commented, “The One\nWeatherford team delivered an excellent third quarter, with adjusted EBITDA\nmargin* expanding 204 basis points sequentially to 22.2% and adjusted free\ncash flow* of $155 million. Even as conflict-related operational disruptions\nin the Middle East weighed on activity levels, the strength of our diversified\nportfolio, disciplined cost management, and outstanding execution across the\norganization drove margin expansion and strong cash generation. These results\ndemonstrate the durability of our operating model, agility to pivot in any\nphase of the cycle and the earnings potential of the business as activity\nrecovers.\n\nWe also made significant progress on our strategic priorities during the\nquarter. The closing of the NCS Multistage acquisition strengthens our\ncompletions portfolio, broadens our technology capabilities, and positions us\nto realize meaningful cost and commercial synergies. We further enhanced our\ncapital structure by issuing a notice to redeem the remaining $236 million\nprincipal amount of our 2030 Senior Notes, reducing future interest expense.\nShareholders approved our proposed redomestication to Delaware, an important\nstep toward a simpler, more efficient corporate structure and improved free\ncash flow generation. Finally, our Enterprise Resource Planning (“ERP”)\ntransformation remains on track, with our first major application launching\nvery smoothly in the third quarter, enabling greater process standardization,\nsimplification, operational efficiency and scalability across the enterprise.\n\nWe enter the final quarter of the year with strong momentum to springboard\ninto 2027. While the recent events in the Middle East have dampened\nexpectations of a quick recovery, we still see a meaningful ramp in adjusted\nEBITDA* in the fourth quarter and are increasing our full year adjusted free\ncash flow* guidance yet again. We see significant market opportunities for\ngrowth heading into 2027 and are very well positioned to capitalize on\nthose.”\n\n(*Non-GAAP – refer to the section titled Non-GAAP Financial Measures Defined\nand GAAP to Non-GAAP Financial Measures Reconciled)\n\nOperational & Commercial Highlights\n* Equinor awarded Weatherford a two-year extension and a new offshore\ncompletions award, across several strategic frame agreements to provide its\nintegrated completions portfolio for the Statfjord and Oseberg licenses on the\nNorwegian Continental Shelf.\n* A major operator awarded Weatherford a 46-unit contract for the supply of\nProgressive Cavity Pumping systems, a hallmark of our Artificial Lift\ncapability, to support well completions in Venezuela.\n* Eldorado Drilling (formerly known as Vantage Drilling) awarded Weatherford a\ncontract to supply a comprehensive Managed Pressure Drilling (“MPD”)\nequipment package for a 7th-generation ultra-deepwater drillship for a\ndeepwater drilling campaign offshore Indonesia in water depths of\napproximately 1,700 meters.\n* A major operator awarded Weatherford a four-year contract to provide Tubular\nRunning Services (“TRS”) and Intervention Services & Drilling Tools\n(“ISDT”), expanding our support across offshore exploration, development\nand decommissioning activities in Australia.\n* A National Oil Company (“NOC”) in South-East Asia awarded Weatherford a\nthree-year deepwater liner hanger contract for conventional and expandable\nliner systems.\n* Seplat Energy awarded Weatherford a five-year contract to provide\nCompletions Products and Services, including Gas Lift Solutions, for its\nshallow offshore operations in Nigeria.\n* Brunei Shell Petroleum awarded Weatherford a five-year contract extension\nfor Thru-Tubing Services which covers the delivery of Weatherford’s\nthru-tubing portfolio across onshore and offshore wells in Brunei, reinforcing\na long-standing partnership focused on safe, reliable and efficient well\nintervention solutions.\n* A major operator awarded Weatherford a 30-month contract to provide MPD\nservices in Argentina.\n* Joint Operations (Saudi Arabian Chevron Inc. - Kuwait Gulf Oil Company)\nawarded Weatherford a four-year contract for Foresite\n(https://www.weatherford.com/production-and-intervention/production-4-0/production-optimization-platform/)(®)\n(https://www.weatherford.com/production-and-intervention/production-4-0/production-optimization-platform/)\nand Cygnet\n(https://www.weatherford.com/production-and-intervention/production-4-0/iot-scada-platform/)(®)\n(https://www.weatherford.com/production-and-intervention/production-4-0/iot-scada-platform/)\nsoftware.\n* Kuwait Oil Company awarded Weatherford a five-year contract to provide\nDirectional Drilling, Measurement While Drilling and Logging While Drilling\nservices.\n* A major drilling contractor awarded Weatherford a one-year contract to\nprovide integrated services for offshore operations in Mexico.\nTechnology Highlights\n* Drilling & Evaluation (“DRE”) * In Thailand, Weatherford deployed its\nMagnus Saker™\n(https://www.weatherford.com/drilling-and-evaluation/drilling-services/rotary-steerable-systems/magnus-saker-rotary-steerable-system/)\ndrilling system across six high-temperature well sections, achieving 100%\ngeological target success through single-run shoe-to-shoe operation. The\ncampaign eliminated an additional drilling assembly trip, saved over 100\noperational hours, equivalent to over five rig days, and delivered significant\ncustomer savings while exceeding the operator’s drilling performance target.\n* In the United Kingdom (“UK”), Weatherford completed the first deployment\nof its Dual Advanced Kickover Tool\n(https://www.weatherford.com/drilling-and-evaluation/wireline-products/intervention-accessories/advanced-kickover-tool/)\ntechnology to replace multiple gas-lift valves in a highly deviated offshore\nwell. The solution completed the work in two intervention runs rather than the\nfour typically required, reducing intervention runs by half, saving rig time\nand reducing personnel exposure at the wellsite.\n\n \n* Well Construction and Completions (“WCC”)\n * With our acquisition of NCS Multistage\n(https://www.weatherford.com/investor-relations/investor-news-and-events/news/news-article/?ItemID=18596),\nwe now bring into our portfolio a differentiated completions technology\nplatform that has surpassed 500,000 frac stages completed since 2009. During\nthe quarter, we secured a Deepwater Gulf of America award for its frac sleeves\nand service tools following four years of collaborative development with a\nmajor international operator. The award expands our footprint into the\noffshore market, creates a platform for future growth, and highlights the\npotential to leverage these technologies across a broader range of completion\napplications.\n* In Saudi Arabia, Weatherford deployed a three-stage DV (“Differential\nValve”) Tool\n(https://www.weatherford.com/well-construction-and-completions/cementing/stage-cementing-tools/)\nfor the cementing of a 9-5/8” casing string for Aramco. An open hole annulus\ncasing packer enabled isolation, allowing higher-density fluids in subsequent\nstages, while staged tools restored internal gas tight integrity, and a\nV0-rated packer secured the casing-to-casing annulus, supporting an optimized\ncement program and long-term well integrity.\n* In Malaysia, Weatherford completed the first Mature Asset Rejuvenation by\nSurveillance System (“MARS”)\n(https://www.weatherford.com/well-construction-and-completions/well-services/mars-mature-asset-rejuvenation-by-surveillance-system/)\ndeployment of its kind in Asia for Petronas to evaluate a gas-lift well where\na restricted internal diameter prevented the use of conventional tools. The\ntechnology completed a full diagnostic survey and accurately identified the\nleak location, enabling multi-point gas-lift injection diagnosis while\navoiding alternative intervention methods.\n \n* Production and Intervention (“PRI”) * In the U.S., Weatherford completed\nthe first commercial installation of its ForeSite(®) Power Regenerative\nSystem retrofit\n(https://www.weatherford.com/production-and-intervention/production-4-0/power-regenerative-system/)\non an existing rod-lift well. The system captures and reuses energy generated\nduring each pumping cycle, delivering over 50% in energy savings while\nlowering operating costs and emissions without requiring replacement of the\ninstalled drive.\n* In Colombia, Weatherford completed the world’s first deployment of its\nSandSure\n(https://www.weatherford.com/well-construction-and-completions/sand-face-solutions/sand-control/sandsure-engineered-sand-control-fluid-system/)™\nXT\n(https://www.weatherford.com/well-construction-and-completions/sand-face-solutions/sand-control/sandsure-engineered-sand-control-fluid-system/)\nsand consolidation technology to control sand production without conventional\ndownhole screens. The solution consolidated the sand in place, reducing\nintervention requirements and lifecycle costs while preserving production\nperformance and improving long-term well reliability.\nCorporate Treasury\n\nDebt repayment: On October 20, 2026, Weatherford issued a notice to redeem all\nof its 8.625% Senior Notes due 2030 (the “2030 Senior Notes”) in an\naggregate principal amount of $236 million. The 2030 Senior Notes will be\nredeemed at 100% of their principal amount, plus accrued and unpaid interest\nto and including the redemption date of October 30, 2026. The redemption is\nexpected to be funded using cash on hand and is expected to reduce annualized\ncash interest expense by approximately $20 million. This disclosure does not\nconstitute a notice of redemption with respect to the 2030 Senior Notes.\n\nCredit Ratings: During the third quarter of 2026, Fitch Ratings and S&P Global\nRatings revised their outlook on Weatherford to ‘Positive Outlook’ from\n‘Stable Outlook’ and affirmed the Company’s ‘BB’ credit rating.\nMoody’s affirmed its ‘Ba2’ rating with a ‘Positive Outlook’. Despite\nthe challenging conditions in the Middle East, these actions recognize\nWeatherford’s continued improvement in credit profile, supported by a\nstronger balance sheet, enhanced financial flexibility, and prudent capital\nallocation.\n\nShareholder Return\n\nDuring the third quarter of 2026, Weatherford paid dividends of $19 million\nand repurchased shares for $28 million, resulting in a total shareholder\nreturn of $47 million. During the nine months ended September 30, 2026,\nWeatherford paid dividends of $59 million and repurchased shares for\napproximately $54 million, resulting in a total shareholder return of $113\nmillion.\n\nOn October 15, 2026, our Board declared a cash dividend of $0.275 per share of\nthe Company’s ordinary shares. The dividend is payable on December 3, 2026,\nto shareholders of record as of November 6, 2026.\n\nOther Events\n\nThe shareholders of Weatherford approved all proposals required to effect the\nCompany’s updated plan of redomestication from Ireland to Delaware,\nincluding approval at both the Scheme Meeting and Extraordinary General\nMeeting. The redomestication remains subject to previously disclosed closing\nconditions, including sanction by the Irish High Court. Subject to\nsatisfaction of those conditions, the Company expects the transition to become\neffective during the fourth quarter of 2026. The redomestication shareholder\nvote marks a significant milestone in Weatherford’s continued transformation\nand advances the Company’s plan to establish a corporate structure better\naligned with its global operations, long-term strategy, and shareholder base.\nThis transaction is expected to generate $20 million to $30 million in annual\ncash savings beginning in 2027, which we believe is an important contributor\nto continued improvement in adjusted free cash flow conversion.\n\nResults by Reportable Segment\n\nDrilling and Evaluation (“DRE”)\n\n                              Three Months Ended                                                       Variance                        \n ($ in Millions)              Sep 30,                  Jun 30,                  Sep 30,                Seq.              YoY           \n                              2026                     2026                     2025                                                   \n Revenue                      $    331                 $    291                 $    346               14       %        (4   )   %    \n Segment Adjusted EBITDA      $    90                  $    58                  $    83                55       %        8        %    \n Segment Adj EBITDA Margin         27.2       %             19.9       %             24.0       %      726      bps      320      bps  \n\nThird quarter 2026 DRE revenue of $331 million increased by $40 million, or\n14% sequentially, primarily from higher MPD and Drilling Services activity in\nLatin America and higher MPD and Wireline activity in the Middle East/North\nAfrica/Asia, partly offset by lower MPD activity in Europe/Sub-Sahara\nAfrica/Russia. Year-over-year DRE revenue decreased by $15 million, or 4%,\nprimarily from lower Wireline and Drilling-related Services activity, partly\noffset by higher MPD activity in Latin America.\n\nThird quarter 2026 DRE segment adjusted EBITDA of $90 million increased by $32\nmillion, or 55% sequentially, primarily from higher MPD and Drilling Services\nactivity and strong fall through in the Middle East/North Africa/Asia and\nLatin America, partly offset by lower fall through in North America.\nYear-over-year DRE segment adjusted EBITDA increased by $7 million, or 8%,\nprimarily from higher fall through in the Middle East/North Africa/Asia and\nEurope/Sub-Sahara Africa/Russia, partly offset by lower activity and fall\nthrough in North America.\n\nWell Construction and Completions (“WCC”)\n\n                              Three Months Ended                                                       Variance                          \n ($ in Millions)              Sep 30,                  Jun 30,                  Sep 30,                Seq.               YoY            \n                              2026                     2026                     2025                                                     \n Revenue                      $    450                 $    433                 $    468               4         %        (4    )   %    \n Segment Adjusted EBITDA      $    100                 $    107                 $    125               (7    )   %        (20   )   %    \n Segment Adj EBITDA Margin         22.2       %             24.7       %             26.7       %      (249  )   bps      (449  )   bps  \n\nThird quarter 2026 WCC revenue of $450 million increased by $17 million, or 4%\nsequentially, primarily from higher Completions activity in North America and\nhigher Liner Hangers activity in the Middle East/North Africa/Asia, partly\noffset by lower Completions activity in Latin America. Year-over-year, WCC\nrevenues decreased by $18 million, or 4%, primarily from lower activity in\nMiddle East/North Africa/Asia, partly offset by higher Completions activity in\nNorth America and Latin America.\n\nThird quarter 2026 WCC segment adjusted EBITDA of $100 million decreased by $7\nmillion, or 7% sequentially, primarily from lower fall through in North\nAmerica and lower activity in Europe/Sub-Sahara Africa/Russia, partly offset\nby higher TRS and Completions activity and fall through in the Middle\nEast/North Africa/Asia. Year-over-year WCC segment adjusted EBITDA decreased\nby $25 million, or 20%, primarily from lower fall through in North America,\npartly offset by higher Completions and Cementation Products activity and fall\nthrough in Latin America.\n\nProduction and Intervention (“PRI”)\n\n                              Three Months Ended                                                       Variance                        \n ($ in Millions)              Sep 30,                  Jun 30,                  Sep 30,                Seq.              YoY           \n                              2026                     2026                     2025                                                   \n Revenue                      $    314                 $    316                 $    326               (1   )   %        (4   )   %    \n Segment Adjusted EBITDA      $    73                  $    70                  $    59                4        %        24       %    \n Segment Adj EBITDA Margin         23.2       %             22.2       %             18.1       %      110      bps      515      bps  \n\nThird quarter 2026 PRI revenue of $314 million decreased by $2 million, or 1%\nsequentially, primarily from lower international Pressure Pumping activity,\npartly offset by higher Artificial Lift and Subsea Intervention activity in\nLatin America. Year-over-year PRI revenue decreased by $12 million, or 4%,\nprimarily from lower ISDT and Artificial Lift activity in North America and\nlower Pressure Pumping and ISDT activity in Latin America, partly offset by\nhigher ISDT and Pressure Pumping activity in Europe/Sub-Sahara Africa/Russia.\n\nThird quarter 2026 PRI segment adjusted EBITDA of $73 million increased by $3\nmillion, or 4%, sequentially, primarily from higher international Pressure\nPumping fall through and higher ISDT and Digital Solutions activity and fall\nthrough in the Middle East/North Africa/Asia, partly offset by lower fall\nthrough in North America. Year-over-year PRI segment adjusted EBITDA increased\nby $14 million, or 24% primarily from higher activity and fall through in\nEurope/Sub-Sahara Africa/Russia, and higher fall through in the Middle\nEast/North Africa/Asia, partly offset by lower ISDT and Pressure Pumping\nactivity in Latin America.\n\nRevenue by Geography\n\n                                    Three Months Ended                                           Variance               \n ($ in Millions)                    Sep 30,              Jun 30,              Sep 30,            Seq.          YoY      \n                                    2026                 2026                 2025                                      \n North America                      $    236             $    205             $    243           15   %        (3   )%  \n                                                                                                                        \n International                      $    907             $    900             $    989           1    %        (8   )%  \n Latin America                           225                  197                  214           14   %        5    %   \n Middle East/North Africa/Asia           447                  446                  533           —    %        (16  )%  \n Europe/Sub-Sahara Africa/Russia         235                  257                  242           (9   )%       (3   )%  \n Total Revenue                      $    1,143           $    1,105           $    1,232         3    %        (7   )%  \n\nNorth America\n\nThird quarter 2026 North America revenue of $236 million increased by $31\nmillion, or 15%, sequentially, primarily from higher activity across all\nreported segments, especially Completions activity in U.S. Land and Canada\nLand, partly offset by lower Completions activity in U.S. offshore.\nYear-over-year, North America revenue decreased by $7 million, or 3%,\nprimarily from lower activity in ISDT and Artificial Lift product lines,\nespecially in U.S. Land, partly offset by higher Completions activity.\n\nInternational\n\nThird quarter 2026 international revenue of $907 million increased by $7\nmillion, or 1% sequentially and decreased by $82 million, or 8%\nyear-over-year.\n\nThird quarter 2026 Latin America revenue of $225 million increased by $28\nmillion, or 14% sequentially, primarily from higher Drilling-related Services\nand Integrated Services & Projects (“ISP”) activity in Mexico and higher\nMPD activity in the Caribbean, partly offset by lower Completions and Pressure\nPumping activity. Year-over-year, Latin America revenue increased by $11\nmillion, or 5%, primarily from higher MPD activity in the Caribbean and higher\nCompletions activity, partly offset by lower Drilling-related Services\nactivity in Argentina and Mexico.\n\nThird quarter 2026 Middle East/North Africa/Asia revenue of $447 million was\nlargely flat sequentially, as lower ISP activity was partly offset by higher\nMPD and Liner Hangers activity. Year-over-year, the Middle East/North\nAfrica/Asia revenue decreased by $86 million, or 16%, primarily from subdued\nactivity on account of heightened geopolitical tensions partly offset by\nhigher Cementation Products activity.\n\nThird quarter 2026 Europe/Sub-Sahara Africa/Russia revenue of $235 million\ndecreased by $22 million, or 9% sequentially, primarily from lower activity\nacross the reported segments, partly offset by higher Wireline activity in\nEurope. Year-over-year, Europe/Sub-Sahara Africa/Russia revenue decreased by\n$7 million, or 3%, primarily from lower Wireline and Liner Hangers activity,\npartly offset by higher activity in the PRI segment.\n\nAbout Weatherford\n\nWeatherford is a global energy services company that helps customers drill\nsmarter, complete wells more effectively, and maximize production across the\nentire well lifecycle. With a differentiated portfolio of market-leading\nsolutions, integrated technologies, and a broad global customer footprint\nacross six continents, we blend advanced engineering, digital intelligence,\nand world-class field expertise to reduce risk, improve performance, and\nmaximize the value of customer assets. Together, we elevate every operation,\ndelivering stronger wells, sharper decisions, and better energy for the world.\nVisit weatherford.com for more information and connect with us on social\nmedia.\n\nConference Call Details\n\nWeatherford will host a conference call on Wednesday, October 21, 2026, to\ndiscuss the Company’s results for the third quarter ended September 30,\n2026. The conference call will begin at 8:30 a.m. Eastern Time (7:30 a.m.\nCentral Time).\n\nListeners are encouraged to download the accompanying presentation slides\nwhich will be available in the investor relations section of the Company’s\nwebsite.\n\nListeners can participate in the conference call via a live webcast at\nhttps://www.weatherford.com/investor-relations/investor-news-and-events/events/ or\nby dialing +1 877-328-5344 (within the U.S.) or +1 412-902-6762 (outside of\nthe U.S.) and asking for the Weatherford conference call. Participants should\nlog in or dial in approximately 10 minutes prior to the start of the call.\n\nA telephonic replay of the conference call will be available until November 4,\n2026, at 5:00 p.m. Eastern Time. To access the replay, please dial +1\n855-669-9658 (within the U.S.) or +1 412-317-0088 (outside of the U.S.) and\nreference conference number 2939769. A replay and transcript of the earnings\ncall will also be available in the investor relations section of the\nCompany’s website.\n\nContacts\n\nFor Investors:\nLuke Lemoine\nSenior Vice President, Corporate Development & Investor Relations\n+1 713-836-7777\ninvestor.relations@weatherford.com\n\nFor Media:\nKelley Hughes\nVice President, Communications, Marketing & Sustainability\nmedia@weatherford.com\n\nForward-Looking Statements\n\nThis news release contains projections and forward-looking statements\nconcerning, among other things, the Company’s adjusted EBITDA*, adjusted\nEBITDA margin*, adjusted free cash flow*, shareholder return program,\nforecasts or expectations regarding business outlook, prospects for its\noperations, capital expenditures, expectations regarding future financial\nresults, and are also generally identified by the words “believe,”\n“project,” “expect,” “anticipate,” “estimate,” “outlook,”\n“budget,” “intend,” “strategy,” “plan,” “guidance,”\n“may,” “should,” “could,” “will,” “would,” “will be,”\n“will continue,” “will likely result,” and similar expressions,\nalthough not all forward-looking statements contain these identifying words.\nSuch statements are based upon the current beliefs of Weatherford’s\nmanagement and are subject to significant risks, assumptions, and\nuncertainties. Should one or more of these risks or uncertainties materialize,\nor underlying assumptions prove incorrect, actual results may vary materially\nfrom those indicated in our forward-looking statements. Readers are cautioned\nthat forward-looking statements are only estimates and may differ materially\nfrom actual future events or results, based on factors including but not\nlimited to: global political, economic and market conditions, political\ndisturbances, war or other global conflicts, terrorist attacks, public health\nissues such as pandemics, changes in global trade policies, tariffs and\nsanctions, weak local economic conditions and international currency\nfluctuations; general global economic repercussions related to U.S. and global\ninflationary pressures and potential recessionary concerns; various effects\nfrom the Russia Ukraine conflict, conflicts in the Middle East (including the\nIran conflict) or instability in Latin America, including, but not limited to,\nnationalization of assets, extended business interruptions, sanctions,\ntreaties and regulations (including changes in the regulatory environment)\nimposed by various countries, associated operational and logistical\nchallenges, and impacts to the overall global energy supply; cybersecurity\nissues; our ability to comply with, and respond to, climate change,\nenvironmental, social and governance and other sustainability initiatives and\nfuture legislative and regulatory measures both globally and in specific\ngeographic regions; the price and price volatility of, and demand for, oil and\nnatural gas; the macroeconomic outlook for the oil and gas industry; our\nability to generate cash flow from operations to fund our operations; our\nability to effectively and timely adapt our technology portfolio, products and\nservices to remain competitive, and to address and participate in changes to\nthe market demands, including for the transition to alternate sources of\nenergy such as geothermal, carbon capture and responsible abandonment,\nincluding our digitalization efforts and our incorporation of artificial\nintelligence tools; increases in the prices and lead times, and the lack of\navailability of our procured products and services, including due to\nmacroeconomic and geopolitical conditions such as tariffs and changes in trade\npolicies; our ability to timely collect from customers; our ability to manage\nour workforce and systems, including the impact of our enterprise resource\nplanning system implementation and business enhancements; our ability to\neffectively execute our capital allocation framework; our ability to return\ncapital to shareholders, including those related to the timing and amounts\n(including any plans or commitments in respect thereof) of any dividends and\nshare repurchases; the realization of additional cost savings and operational\nefficiencies, including as a result of our proposed Redomestication from\nIreland to Delaware; our ability to receive, in a timely manner and on\nsatisfactory terms, required court approval and to satisfy the other\nconditions to the proposed Redomestication within the expected timeframe or at\nall; our ability to realize the expected benefits from the proposed\nRedomestication; the occurrence of difficulties in connection with the\nRedomestication, including any costs related thereto; the risk that the\nproposed Redomestication disrupts current plans and operations; any changes in\ntax laws, tax treaties or tax regulations or the interpretation or enforcement\nthereof by the tax authorities in Ireland, the United States and other\njurisdictions following the proposed Redomestication; the future financial\nperformance of Weatherford following the Redomestication; our ability to\nsuccessfully integrate NCS Multistage and to achieve the anticipated benefits\nand synergies of the acquisition within the expected time period or at all.\n\nThese risks and uncertainties are more fully described in Weatherford’s\nreports and registration statements filed with the U.S. Securities and\nExchange Commission (the “SEC”), including the risk factors described in\nthe Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.\nAccordingly, you should not place undue reliance on any of the Company’s\nforward-looking statements. Any forward-looking statement speaks only as of\nthe date on which such statement is made, and the Company undertakes no\nobligation to correct or update any forward-looking statement, whether as a\nresult of new information, future events or otherwise, except as required by\napplicable law.\n\n(*Non-GAAP – refer to the section titled Non-GAAP Financial Measures Defined\nand GAAP to Non-GAAP Financial Measures Reconciled)\n\n Weatherford International plc                                                                                                                                                              \n Selected Statements of Operations (Unaudited)                                                                                                                                              \n                                                                                                                                                                                            \n                                                                            Three Months Ended                                                   Nine Months Ended                          \n ($ in Millions, Except Per Share Amounts)                                  September              June 30, 2026            September            September               September          \n                                                                            30, 2026                                        30, 2025             30, 2026                30, 2025           \n Revenues:                                                                                                                                                                                  \n DRE Revenues                                                               $     331              $      291               $     346            $     943               $     1,031        \n WCC Revenues                                                                     450                     433                     468                  1,326                   1,365        \n PRI Revenues                                                                     314                     316                     326                  926                     987          \n All Other                                                                        48                      65                      92                   205                     246          \n Total Revenues                                                                   1,143                   1,105                   1,232                3,400                   3,629        \n                                                                                                                                                                                            \n Operating Income:                                                                                                                                                                          \n DRE Segment Adjusted EBITDA ([1])                                          $     90               $      58                $     83             $     220               $     226          \n WCC Segment Adjusted EBITDA ([1])                                                100                     107                     125                  317                     371          \n PRI Segment Adjusted EBITDA ([1])                                                73                      70                      59                   197                     184          \n All Other ([2])                                                                  10                      6                       14                   29                      37           \n Corporate ([2])                                                                  (19    )                (18    )                (12    )             (53    )                (42    )     \n Depreciation and Amortization                                                    (70    )                (71    )                (67    )             (211   )                (193   )     \n Share-based Compensation                                                         (15    )                (11    )                (10    )             (38    )                (26    )     \n Gain on Sale of Business                                                         —                       —                       —                    —                       70           \n Restructuring Charges                                                            (6     )                (9     )                (11    )             (28    )                (51    )     \n Redomestication                                                                  (6     )                (12    )                —                    (30    )                —            \n Other Charges, Net                                                               (4     )                (13    )                (3     )             (20    )                (19    )     \n Operating Income                                                                 153                     107                     178                  383                     557          \n                                                                                                                                                                                            \n Other Expense:                                                                                                                                                                             \n Interest Expense, Net of Interest Income of $13, $11, $11, $34, and $36          (15    )                (16    )                (23    )             (48    )                (70    )     \n Other Expense, Net                                                               (9     )                (16    )                (16    )             (26    )                (61    )     \n Income Before Income Taxes                                                       129                     75                      139                  309                     426          \n Income Tax Provision                                                             (4     )                (33    )                (52    )             (33    )                (108   )     \n Net Income                                                                       125                     42                      87                   276                     318          \n Net Income Attributable to Noncontrolling Interests                              5                       3                       6                    9                       25           \n Net Income Attributable to Weatherford                                     $     120              $      39                $     81             $     267               $     293          \n                                                                                                                                                                                            \n Basic Income Per Share                                                     $     1.66             $      0.55              $     1.13           $     3.71              $     4.04         \n Basic Weighted Average Shares Outstanding                                        71.9                    71.9                    71.9                 71.9                    72.4         \n                                                                                                                                                                                            \n Diluted Income Per Share                                                   $     1.66             $      0.55              $     1.12           $     3.70              $     4.02         \n Diluted Weighted Average Shares Outstanding                                      72.2                    72.2                    72.2                 72.2                    72.7         \n ([1] Segment adjusted EBITDA is our primary measure of segment profitability under U.S. GAAP ASC 280 “Segment Reporting” and represents segment earnings before interest, taxes, depreciation, amortization, share-based compensation, restructuring charges and other adjustments. Research and development expenses are included in segment adjusted EBITDA.) ([2] All Other includes results from non-core business activities (including integrated services and projects), and Corporate includes overhead support and \n centrally managed or shared facilities costs. All Other and Corporate do not individually meet the criteria for segment reporting.)                                                        \n\n\n\n Weatherford International plc                                                              \n Selected Balance Sheet Data (Unaudited)                                                    \n                                                                                            \n ($ in Millions)                       September 30, 2026           December 31, 2025       \n Assets:                                                                                    \n Cash and Cash Equivalents             $        1,161               $       987             \n Restricted Cash                                37                          55              \n Accounts Receivable, Net                       1,105                       1,234           \n Inventories, Net                               861                         836             \n Property, Plant and Equipment, Net             1,160                       1,124           \n Intangibles, Net                               288                         285             \n                                                                                            \n Liabilities:                                                                               \n Accounts Payable                               595                         650             \n Accrued Salaries and Benefits                  277                         285             \n Current Portion of Long-term Debt              264                         30              \n Long-term Debt                                 1,216                       1,455           \n                                                                                            \n Shareholders’ Equity:                                                                      \n Total Shareholders’ Equity                     1,992                       1,696           \n\n\n\n Weatherford International plc                                                                                                                                                                                                   \n Selected Cash Flows Information (Unaudited)                                                                                                                                                                                     \n                                                                                                                                                                                                                                 \n                                                                                                                        Three Months Ended                                              Nine Months Ended                        \n ($ in Millions)                                                                                                        September             June                  September           September              September         \n                                                                                                                        30, 2026              30, 2026              30, 2025            30, 2026               30, 2025          \n Cash Flows From Operating Activities:                                                                                                                                                                                           \n Net Income                                                                                                             $     125             $     42              $     87            $     276              $     318         \n Adjustments to Reconcile Net Income to Net Cash Provided By Operating Activities:                                                                                                                                               \n Depreciation and Amortization                                                                                                70                    71                    67                  211                    193         \n Foreign Exchange Losses                                                                                                      5                     10                    10                  11                     40          \n Gain on Disposition of Assets                                                                                                (15   )               (7    )               (2    )             (28   )                (6    )     \n Gain on Sale of Business                                                                                                     —                     —                     —                   —                      (70   )     \n Deferred Income Tax Provision (Benefit)                                                                                      (44   )               —                     11                  (35   )                13          \n Share-Based Compensation                                                                                                     15                    11                    10                  38                     26          \n Changes in Accounts Receivable, Inventory, Accounts Payable, Accrued Salaries and Benefits and Income Taxes Payable          27                    64                    (69   )             65                     (116  )     \n Other Changes, Net                                                                                                           9                     (16   )               24                  (35   )                10          \n Net Cash Provided By Operating Activities                                                                                    192                   175                   138                 503                    408         \n                                                                                                                                                                                                                                 \n Cash Flows From Investing Activities:                                                                                                                                                                                           \n Capital Expenditures for Property, Plant and Equipment                                                                       (45   )               (42   )               (44   )             (141  )                (175  )     \n Proceeds from Disposition of Assets                                                                                          8                     6                     5                   17                     11          \n Proceeds from Sale of Business                                                                                               —                     —                     —                   —                      97          \n Purchases of Blue Chip Swap Securities                                                                                       (9    )               (11   )               (20   )             (23   )                (103  )     \n Proceeds from Sales of Blue Chip Swap Securities                                                                             8                     11                    20                  22                     102         \n Business Acquisition, Net of Cash Acquired                                                                                   (13   )               —                     —                   (13   )                —           \n Other Investing Activities                                                                                                   (3    )               (6    )               (7    )             (26   )                (14   )     \n Net Cash Used In Investing Activities                                                                                        (54   )               (42   )               (46   )             (164  )                (82   )     \n                                                                                                                                                                                                                                 \n Cash Flows From Financing Activities:                                                                                                                                                                                           \n Repayments of Long-term Debt                                                                                                 (8    )               (9    )               (7    )             (25   )                (80   )     \n Distributions to Noncontrolling Interests                                                                                    (4    )               (5    )               (8    )             (9    )                (16   )     \n Tax Remittance on Equity Awards                                                                                              (2    )               (1    )               —                   (20   )                (20   )     \n Share Repurchases                                                                                                            (28   )               (16   )               (7    )             (54   )                (94   )     \n Dividends Paid                                                                                                               (19   )               (20   )               (18   )             (59   )                (54   )     \n Other Financing Activities                                                                                                   (1    )               2                     (7    )             —                      (13   )     \n Net Cash Used In Financing Activities                                                                                  $     (62   )         $     (49   )         $     (47   )       $     (167  )          $     (277  )     \n\n\n\n Weatherford International plc                    \n Non-GAAP Financial Measures Defined (Unaudited)  \n\nWe report our financial results in accordance with U.S. generally accepted\naccounting principles (GAAP). However, Weatherford’s management believes\nthat certain non-GAAP financial measures (as defined under the SEC’s\nRegulation G and Item 10(e) of Regulation S-K) may provide users of this\nfinancial information additional meaningful comparisons between current\nresults and results of prior periods and comparisons with peer companies. The\nnon-GAAP amounts shown in the following tables should not be considered as\nsubstitutes for results reported in accordance with GAAP but should be viewed\nin addition to the Company’s reported results prepared in accordance with\nGAAP.\n\nAdjusted EBITDA* – Adjusted EBITDA* is a non-GAAP measure and represents\nconsolidated income before interest expense, net, income taxes, depreciation\nand amortization expense, and excludes, among other items, restructuring\ncharges, share-based compensation expense, as well as other charges and\ncredits. Management believes adjusted EBITDA* is useful to assess and\nunderstand normalized operating performance and trends. Adjusted EBITDA*\nshould be considered in addition to, but not as a substitute for consolidated\nnet income and should be viewed in addition to the Company's reported results\nprepared in accordance with GAAP.\n\nAdjusted EBITDA margin* – Adjusted EBITDA margin* is a non-GAAP measure\nwhich is calculated by dividing consolidated adjusted EBITDA* by consolidated\nrevenues. Management believes adjusted EBITDA margin* is useful to assess and\nunderstand normalized operating performance and trends. Adjusted EBITDA\nmargin* should be considered in addition to, but not as a substitute for\nconsolidated net income margin and should be viewed in addition to the\nCompany's reported results prepared in accordance with GAAP.\n\nAdjusted Free Cash Flow* – Adjusted Free Cash Flow* is a non-GAAP measure\nand represents cash flows provided by (used in) operating activities, less\ncapital expenditures plus proceeds from the disposition of assets. Management\nbelieves adjusted free cash flow* is useful to understand our performance at\ngenerating cash and demonstrates our discipline around the use of cash.\nAdjusted free cash flow* should be considered in addition to, but not as a\nsubstitute for cash flows provided by operating activities and should be\nviewed in addition to the Company's reported results prepared in accordance\nwith GAAP.\n\nAdjusted Free Cash Flow Conversion* – Adjusted free cash flow conversion* is\na non-GAAP measure that is calculated by dividing adjusted free cash flow* by\nadjusted EBITDA*. Management believes adjusted free cash flow conversion* is\nuseful to assess the level of normalized liquidity generated in the operating\ncycle. Adjusted free cash flow conversion* should be considered in addition\nto, but not as a substitute for the GAAP measures described above for the\nrespective components, and should be viewed in addition to the Company’s\nreported results prepared in accordance with GAAP.\n\nNet Debt* – Net Debt* is a non-GAAP measure that is calculated taking short\nand long-term debt less cash and cash equivalents and restricted cash.\nManagement believes the net debt* is useful to assess the level of debt in\nexcess of cash and cash equivalents as we monitor our ability to repay and\nservice our debt. Net debt* should be considered in addition to, but not as a\nsubstitute for overall debt and total cash and should be viewed in addition to\nthe Company’s results prepared in accordance with GAAP.\n\nNet Leverage* – Net Leverage* is a non-GAAP measure which is calculated by\ntaking net debt* divided by adjusted EBITDA* for the trailing 12 months.\nManagement believes the net leverage* is useful to understand our ability to\nrepay and service our debt. Net leverage* should be considered in addition to,\nbut not as a substitute for, the individual components of above defined net\ndebt* divided by consolidated net income attributable to Weatherford and\nshould be viewed in addition to the Company’s reported results prepared in\naccordance with GAAP.\n\nGross Leverage* – Gross Leverage* is a non-GAAP measure which is calculated\nby dividing total debt by adjusted EBITDA* for the trailing 12 months.\nManagement believes gross leverage* is useful to understand our ability to\nrepay and service our debt. Gross leverage* should be considered in addition\nto, but not as a substitute for, total debt divided by consolidated net income\nattributable to Weatherford and should be viewed in addition to the\nCompany’s reported results prepared in accordance with GAAP.\n\n(*Non-GAAP – as defined above and reconciled to the GAAP measures in the\nsection titled GAAP to Non-GAAP Financial Measures Reconciled)\n\n Weatherford International plc                                                                                                                                                              \n GAAP to Non-GAAP Financial Measures Reconciled (Unaudited)                                                                                                                                 \n                                                                                                                                                                                            \n                                                                            Three Months Ended                                                   Nine Months Ended                          \n ($ in Millions, Except Margin in Percentages)                              September              June 30, 2026            September            September               September          \n                                                                            30, 2026                                        30, 2025             30, 2026                30, 2025           \n Revenues                                                                   $     1,143            $      1,105             $     1,232          $     3,400             $     3,629        \n Net Income Attributable to Weatherford                                     $     120              $      39                $     81             $     267               $     293          \n Net Income Margin                                                                10.5   %                3.5    %                6.6    %             7.9    %                8.1    %     \n Adjusted EBITDA*                                                           $     254              $      223               $     269            $     710               $     776          \n Adjusted EBITDA Margin*                                                          22.2   %                20.2   %                21.8   %             20.9   %                21.4   %     \n                                                                                                                                                                                            \n Net Income Attributable to Weatherford                                     $     120              $      39                $     81             $     267               $     293          \n Net Income Attributable to Noncontrolling Interests                              5                       3                       6                    9                       25           \n Income Tax Provision                                                             4                       33                      52                   33                      108          \n Interest Expense, Net of Interest Income of $13, $11, $11, $34, and $36          15                      16                      23                   48                      70           \n Other Expense, Net                                                               9                       16                      16                   26                      61           \n Operating Income                                                                 153                     107                     178                  383                     557          \n Depreciation and Amortization                                                    70                      71                      67                   211                     193          \n Other Charges, Net ([1])                                                         4                       13                      3                    20                      19           \n Gain on Sale of Business                                                         —                       —                       —                    —                       (70    )     \n Restructuring Charges                                                            6                       9                       11                   28                      51           \n Redomestication                                                                  6                       12                      —                    30                      —            \n Share-Based Compensation                                                         15                      11                      10                   38                      26           \n Adjusted EBITDA*                                                           $     254              $      223               $     269            $     710               $     776          \n                                                                                                                                                                                            \n Net Cash Provided By Operating Activities                                  $     192              $      175               $     138            $     503               $     408          \n Capital Expenditures for Property, Plant and Equipment                           (45    )                (42    )                (44    )             (141   )                (175   )     \n Proceeds from Disposition of Assets                                              8                       6                       5                    17                      11           \n Adjusted Free Cash Flow*                                                   $     155              $      139               $     99             $     379               $     244          \n ([1] Other Charges, Net in the three and nine months ended September 30, 2026 primarily includes mergers and acquisitions costs. Other Charges, Net in the three and nine months ended September 30, 2025 primarily includes fees to third-party financial institutions related to collections of certain receivables from our largest customer in Mexico and other miscellaneous charges and credits.) \n                                                                                                                                                                                            \n (*Non-GAAP – as reconciled to the GAAP measures above and defined in the section titled Non-GAAP Financial Measures Defined)                                                               \n\n\n\n Weatherford International plc                                                                                  \n GAAP to Non-GAAP Financial Measures Reconciled Continued (Unaudited)                                           \n                                                                                                                \n ($ in Millions)                               September             June 30, 2026           September          \n                                               30, 2026                                      30, 2025           \n Current Portion of Long-term Debt             $     264             $      30               $     126          \n Long-term Debt                                      1,216                  1,450                  1,462        \n Total Debt                                    $     1,480           $      1,480            $     1,588        \n                                                                                                                \n Cash and Cash Equivalents                     $     1,161           $      1,100            $     967          \n Restricted Cash                                     37                     37                     64           \n Total Cash                                    $     1,198           $      1,137            $     1,031        \n                                                                                                                \n Components of Net Debt                                                                                         \n Current Portion of Long-term Debt             $     264             $      30               $     126          \n Long-term Debt                                      1,216                  1,450                  1,462        \n Less: Cash and Cash Equivalents                     1,161                  1,100                  967          \n Less: Restricted Cash                               37                     37                     64           \n Net Debt*                                     $     282             $      343              $     557          \n                                                                                                                \n Net Income for trailing 12 months             $     405             $      366              $     405          \n Adjusted EBITDA* for trailing 12 months       $     1,001           $      1,016            $     1,102        \n                                                                                                                \n Net Leverage* (Net Debt*/Adjusted EBITDA*)          0.28   x               0.34   x               0.51   x     \n (*Non-GAAP – as reconciled to the GAAP measures above and defined in the section titled Non-GAAP Financial Measures Defined) \n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/8629f368-6bdb-484f-8803-80f2179fcd30)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX6bZH66-20261020","title":"Weatherford Announces Third Quarter 2026 Results","author":"Globe Newswire","ticker":"WFRD","created":"2026-10-20T20:30:00.631Z","tickers":["WFRD"],"exchange":"NASDAQ","article_body":"* Third quarter revenue of $1,143 million increased 3% sequentially\n* Third quarter operating income of $153 million increased 43% sequentially\n* Third quarter net income of $120 million increased 208% sequentially; net\nincome margin of 10.5%\n* Third quarter adjusted EBITDA* of $254 million increased 14% sequentially;\nadjusted EBITDA margin* of 22.2% increased 204 basis points sequentially\n* Third quarter cash provided by operating activities of $192 million and\nadjusted free cash flow* of $155 million\n* Shareholder return of $47 million for the quarter, which included dividend\npayments of $19 million and share repurchases of $28 million\n* Completed the acquisition of NCS Multistage Holdings, Inc. (“NCS\nMultistage”) in a stock-and-cash transaction, strengthening Weatherford’s\ncompletions portfolio and expanding capabilities in reservoir diagnostics and\nwell performance solutions\n* Secured shareholder approval for the redomestication to Delaware, a\nstrategic initiative expected to generate approximately $20 million to $30\nmillion of annual cash savings beginning in 2027, subject to previously\ndisclosed regulatory and court approvals\n* Subsequent to quarter end, issued notice to redeem all of 8.625% Senior\nNotes due 2030 in an aggregate principal amount of $236 million, further\nimproving gross leverage* and enhancing future adjusted free cash flow\nconversion*\n* Equinor awarded Weatherford a two-year extension and a new offshore\ncompletions award, across several strategic frame agreements to provide its\nintegrated completions portfolio for the Statfjord and Oseberg licenses on the\nNorwegian Continental Shelf\n(*Non-GAAP – refer to the section titled Non-GAAP Financial Measures Defined\nand GAAP to Non-GAAP Financial Measures Reconciled)\n\nHOUSTON, Oct. 20, 2026 (GLOBE NEWSWIRE) -- Weatherford International plc\n(NASDAQ: WFRD) (“Weatherford” or the “Company”) announced today its\nresults for the third quarter of 2026.\n\nRevenues for the third quarter of 2026 were $1,143 million, an increase of 3%\nsequentially and a decrease of 7% year-over-year. Operating income in the\nthird quarter of 2026 was $153 million, an increase of 43% sequentially and a\ndecrease of 14% year-over-year. Net income in the third quarter of 2026 was\n$120 million, with a 10.5% margin, an increase of 208%, or 697 basis points,\nsequentially, and an increase of 48%, or 392 basis points, year-over-year.\nAdjusted EBITDA* was $254 million, with a 22.2% margin*, an increase of 14% or\n204 basis points, sequentially, and a decrease of 6% but an expansion of 39\nbasis points, year-over-year. Basic income per share in the third quarter of\n2026 was $1.66, an increase of 200% sequentially and an increase of 47%\nyear-over-year. Diluted income per share in the third quarter of 2026 was\n$1.66, an increase of 199% sequentially and an increase of 48% year-over-year.\n\nThird quarter 2026 cash flows provided by operating activities were $192\nmillion, an increase of 10% sequentially and an increase of 39%\nyear-over-year. Adjusted free cash flow* was $155 million, an increase of 12%\nsequentially and an increase of 57% year-over-year. Capital expenditures were\n$45 million in the third quarter of 2026, an increase of 7% sequentially and\nan increase of 2% year-over-year.\n\nGirish Saligram, President and Chief Executive Officer, commented, “The One\nWeatherford team delivered an excellent third quarter, with adjusted EBITDA\nmargin* expanding 204 basis points sequentially to 22.2% and adjusted free\ncash flow* of $155 million. Even as conflict-related operational disruptions\nin the Middle East weighed on activity levels, the strength of our diversified\nportfolio, disciplined cost management, and outstanding execution across the\norganization drove margin expansion and strong cash generation. These results\ndemonstrate the durability of our operating model, agility to pivot in any\nphase of the cycle and the earnings potential of the business as activity\nrecovers.\n\nWe also made significant progress on our strategic priorities during the\nquarter. The closing of the NCS Multistage acquisition strengthens our\ncompletions portfolio, broadens our technology capabilities, and positions us\nto realize meaningful cost and commercial synergies. We further enhanced our\ncapital structure by issuing a notice to redeem the remaining $236 million\nprincipal amount of our 2030 Senior Notes, reducing future interest expense.\nShareholders approved our proposed redomestication to Delaware, an important\nstep toward a simpler, more efficient corporate structure and improved free\ncash flow generation. Finally, our Enterprise Resource Planning (“ERP”)\ntransformation remains on track, with our first major application launching\nvery smoothly in the third quarter, enabling greater process standardization,\nsimplification, operational efficiency and scalability across the enterprise.\n\nWe enter the final quarter of the year with strong momentum to springboard\ninto 2027. While the recent events in the Middle East have dampened\nexpectations of a quick recovery, we still see a meaningful ramp in adjusted\nEBITDA* in the fourth quarter and are increasing our full year adjusted free\ncash flow* guidance yet again. We see significant market opportunities for\ngrowth heading into 2027 and are very well positioned to capitalize on\nthose.”\n\n(*Non-GAAP – refer to the section titled Non-GAAP Financial Measures Defined\nand GAAP to Non-GAAP Financial Measures Reconciled)\n\nOperational & Commercial Highlights\n* Equinor awarded Weatherford a two-year extension and a new offshore\ncompletions award, across several strategic frame agreements to provide its\nintegrated completions portfolio for the Statfjord and Oseberg licenses on the\nNorwegian Continental Shelf.\n* A major operator awarded Weatherford a 46-unit contract for the supply of\nProgressive Cavity Pumping systems, a hallmark of our Artificial Lift\ncapability, to support well completions in Venezuela.\n* Eldorado Drilling (formerly known as Vantage Drilling) awarded Weatherford a\ncontract to supply a comprehensive Managed Pressure Drilling (“MPD”)\nequipment package for a 7th-generation ultra-deepwater drillship for a\ndeepwater drilling campaign offshore Indonesia in water depths of\napproximately 1,700 meters.\n* A major operator awarded Weatherford a four-year contract to provide Tubular\nRunning Services (“TRS”) and Intervention Services & Drilling Tools\n(“ISDT”), expanding our support across offshore exploration, development\nand decommissioning activities in Australia.\n* A National Oil Company (“NOC”) in South-East Asia awarded Weatherford a\nthree-year deepwater liner hanger contract for conventional and expandable\nliner systems.\n* Seplat Energy awarded Weatherford a five-year contract to provide\nCompletions Products and Services, including Gas Lift Solutions, for its\nshallow offshore operations in Nigeria.\n* Brunei Shell Petroleum awarded Weatherford a five-year contract extension\nfor Thru-Tubing Services which covers the delivery of Weatherford’s\nthru-tubing portfolio across onshore and offshore wells in Brunei, reinforcing\na long-standing partnership focused on safe, reliable and efficient well\nintervention solutions.\n* A major operator awarded Weatherford a 30-month contract to provide MPD\nservices in Argentina.\n* Joint Operations (Saudi Arabian Chevron Inc. - Kuwait Gulf Oil Company)\nawarded Weatherford a four-year contract for Foresite\n(https://www.weatherford.com/production-and-intervention/production-4-0/production-optimization-platform/)(®)\n(https://www.weatherford.com/production-and-intervention/production-4-0/production-optimization-platform/)\nand Cygnet\n(https://www.weatherford.com/production-and-intervention/production-4-0/iot-scada-platform/)(®)\n(https://www.weatherford.com/production-and-intervention/production-4-0/iot-scada-platform/)\nsoftware.\n* Kuwait Oil Company awarded Weatherford a five-year contract to provide\nDirectional Drilling, Measurement While Drilling and Logging While Drilling\nservices.\n* A major drilling contractor awarded Weatherford a one-year contract to\nprovide integrated services for offshore operations in Mexico.\nTechnology Highlights\n* Drilling & Evaluation (“DRE”) * In Thailand, Weatherford deployed its\nMagnus Saker™\n(https://www.weatherford.com/drilling-and-evaluation/drilling-services/rotary-steerable-systems/magnus-saker-rotary-steerable-system/)\ndrilling system across six high-temperature well sections, achieving 100%\ngeological target success through single-run shoe-to-shoe operation. The\ncampaign eliminated an additional drilling assembly trip, saved over 100\noperational hours, equivalent to over five rig days, and delivered significant\ncustomer savings while exceeding the operator’s drilling performance target.\n* In the United Kingdom (“UK”), Weatherford completed the first deployment\nof its Dual Advanced Kickover Tool\n(https://www.weatherford.com/drilling-and-evaluation/wireline-products/intervention-accessories/advanced-kickover-tool/)\ntechnology to replace multiple gas-lift valves in a highly deviated offshore\nwell. The solution completed the work in two intervention runs rather than the\nfour typically required, reducing intervention runs by half, saving rig time\nand reducing personnel exposure at the wellsite.\n\n \n* Well Construction and Completions (“WCC”)\n * With our acquisition of NCS Multistage\n(https://www.weatherford.com/investor-relations/investor-news-and-events/news/news-article/?ItemID=18596),\nwe now bring into our portfolio a differentiated completions technology\nplatform that has surpassed 500,000 frac stages completed since 2009. During\nthe quarter, we secured a Deepwater Gulf of America award for its frac sleeves\nand service tools following four years of collaborative development with a\nmajor international operator. The award expands our footprint into the\noffshore market, creates a platform for future growth, and highlights the\npotential to leverage these technologies across a broader range of completion\napplications.\n* In Saudi Arabia, Weatherford deployed a three-stage DV (“Differential\nValve”) Tool\n(https://www.weatherford.com/well-construction-and-completions/cementing/stage-cementing-tools/)\nfor the cementing of a 9-5/8” casing string for Aramco. An open hole annulus\ncasing packer enabled isolation, allowing higher-density fluids in subsequent\nstages, while staged tools restored internal gas tight integrity, and a\nV0-rated packer secured the casing-to-casing annulus, supporting an optimized\ncement program and long-term well integrity.\n* In Malaysia, Weatherford completed the first Mature Asset Rejuvenation by\nSurveillance System (“MARS”)\n(https://www.weatherford.com/well-construction-and-completions/well-services/mars-mature-asset-rejuvenation-by-surveillance-system/)\ndeployment of its kind in Asia for Petronas to evaluate a gas-lift well where\na restricted internal diameter prevented the use of conventional tools. The\ntechnology completed a full diagnostic survey and accurately identified the\nleak location, enabling multi-point gas-lift injection diagnosis while\navoiding alternative intervention methods.\n \n* Production and Intervention (“PRI”) * In the U.S., Weatherford completed\nthe first commercial installation of its ForeSite(®) Power Regenerative\nSystem retrofit\n(https://www.weatherford.com/production-and-intervention/production-4-0/power-regenerative-system/)\non an existing rod-lift well. The system captures and reuses energy generated\nduring each pumping cycle, delivering over 50% in energy savings while\nlowering operating costs and emissions without requiring replacement of the\ninstalled drive.\n* In Colombia, Weatherford completed the world’s first deployment of its\nSandSure\n(https://www.weatherford.com/well-construction-and-completions/sand-face-solutions/sand-control/sandsure-engineered-sand-control-fluid-system/)™\nXT\n(https://www.weatherford.com/well-construction-and-completions/sand-face-solutions/sand-control/sandsure-engineered-sand-control-fluid-system/)\nsand consolidation technology to control sand production without conventional\ndownhole screens. The solution consolidated the sand in place, reducing\nintervention requirements and lifecycle costs while preserving production\nperformance and improving long-term well reliability.\nCorporate Treasury\n\nDebt repayment: On October 20, 2026, Weatherford issued a notice to redeem all\nof its 8.625% Senior Notes due 2030 (the “2030 Senior Notes”) in an\naggregate principal amount of $236 million. The 2030 Senior Notes will be\nredeemed at 100% of their principal amount, plus accrued and unpaid interest\nto and including the redemption date of October 30, 2026. The redemption is\nexpected to be funded using cash on hand and is expected to reduce annualized\ncash interest expense by approximately $20 million. This disclosure does not\nconstitute a notice of redemption with respect to the 2030 Senior Notes.\n\nCredit Ratings: During the third quarter of 2026, Fitch Ratings and S&P Global\nRatings revised their outlook on Weatherford to ‘Positive Outlook’ from\n‘Stable Outlook’ and affirmed the Company’s ‘BB’ credit rating.\nMoody’s affirmed its ‘Ba2’ rating with a ‘Positive Outlook’. Despite\nthe challenging conditions in the Middle East, these actions recognize\nWeatherford’s continued improvement in credit profile, supported by a\nstronger balance sheet, enhanced financial flexibility, and prudent capital\nallocation.\n\nShareholder Return\n\nDuring the third quarter of 2026, Weatherford paid dividends of $19 million\nand repurchased shares for $28 million, resulting in a total shareholder\nreturn of $47 million. During the nine months ended September 30, 2026,\nWeatherford paid dividends of $59 million and repurchased shares for\napproximately $54 million, resulting in a total shareholder return of $113\nmillion.\n\nOn October 15, 2026, our Board declared a cash dividend of $0.275 per share of\nthe Company’s ordinary shares. The dividend is payable on December 3, 2026,\nto shareholders of record as of November 6, 2026.\n\nOther Events\n\nThe shareholders of Weatherford approved all proposals required to effect the\nCompany’s updated plan of redomestication from Ireland to Delaware,\nincluding approval at both the Scheme Meeting and Extraordinary General\nMeeting. The redomestication remains subject to previously disclosed closing\nconditions, including sanction by the Irish High Court. Subject to\nsatisfaction of those conditions, the Company expects the transition to become\neffective during the fourth quarter of 2026. The redomestication shareholder\nvote marks a significant milestone in Weatherford’s continued transformation\nand advances the Company’s plan to establish a corporate structure better\naligned with its global operations, long-term strategy, and shareholder base.\nThis transaction is expected to generate $20 million to $30 million in annual\ncash savings beginning in 2027, which we believe is an important contributor\nto continued improvement in adjusted free cash flow conversion.\n\nResults by Reportable Segment\n\nDrilling and Evaluation (“DRE”)\n\n                              Three Months Ended                                                       Variance                        \n ($ in Millions)              Sep 30,                  Jun 30,                  Sep 30,                Seq.              YoY           \n                              2026                     2026                     2025                                                   \n Revenue                      $    331                 $    291                 $    346               14       %        (4   )   %    \n Segment Adjusted EBITDA      $    90                  $    58                  $    83                55       %        8        %    \n Segment Adj EBITDA Margin         27.2       %             19.9       %             24.0       %      726      bps      320      bps  \n\nThird quarter 2026 DRE revenue of $331 million increased by $40 million, or\n14% sequentially, primarily from higher MPD and Drilling Services activity in\nLatin America and higher MPD and Wireline activity in the Middle East/North\nAfrica/Asia, partly offset by lower MPD activity in Europe/Sub-Sahara\nAfrica/Russia. Year-over-year DRE revenue decreased by $15 million, or 4%,\nprimarily from lower Wireline and Drilling-related Services activity, partly\noffset by higher MPD activity in Latin America.\n\nThird quarter 2026 DRE segment adjusted EBITDA of $90 million increased by $32\nmillion, or 55% sequentially, primarily from higher MPD and Drilling Services\nactivity and strong fall through in the Middle East/North Africa/Asia and\nLatin America, partly offset by lower fall through in North America.\nYear-over-year DRE segment adjusted EBITDA increased by $7 million, or 8%,\nprimarily from higher fall through in the Middle East/North Africa/Asia and\nEurope/Sub-Sahara Africa/Russia, partly offset by lower activity and fall\nthrough in North America.\n\nWell Construction and Completions (“WCC”)\n\n                              Three Months Ended                                                       Variance                          \n ($ in Millions)              Sep 30,                  Jun 30,                  Sep 30,                Seq.               YoY            \n                              2026                     2026                     2025                                                     \n Revenue                      $    450                 $    433                 $    468               4         %        (4    )   %    \n Segment Adjusted EBITDA      $    100                 $    107                 $    125               (7    )   %        (20   )   %    \n Segment Adj EBITDA Margin         22.2       %             24.7       %             26.7       %      (249  )   bps      (449  )   bps  \n\nThird quarter 2026 WCC revenue of $450 million increased by $17 million, or 4%\nsequentially, primarily from higher Completions activity in North America and\nhigher Liner Hangers activity in the Middle East/North Africa/Asia, partly\noffset by lower Completions activity in Latin America. Year-over-year, WCC\nrevenues decreased by $18 million, or 4%, primarily from lower activity in\nMiddle East/North Africa/Asia, partly offset by higher Completions activity in\nNorth America and Latin America.\n\nThird quarter 2026 WCC segment adjusted EBITDA of $100 million decreased by $7\nmillion, or 7% sequentially, primarily from lower fall through in North\nAmerica and lower activity in Europe/Sub-Sahara Africa/Russia, partly offset\nby higher TRS and Completions activity and fall through in the Middle\nEast/North Africa/Asia. Year-over-year WCC segment adjusted EBITDA decreased\nby $25 million, or 20%, primarily from lower fall through in North America,\npartly offset by higher Completions and Cementation Products activity and fall\nthrough in Latin America.\n\nProduction and Intervention (“PRI”)\n\n                              Three Months Ended                                                       Variance                        \n ($ in Millions)              Sep 30,                  Jun 30,                  Sep 30,                Seq.              YoY           \n                              2026                     2026                     2025                                                   \n Revenue                      $    314                 $    316                 $    326               (1   )   %        (4   )   %    \n Segment Adjusted EBITDA      $    73                  $    70                  $    59                4        %        24       %    \n Segment Adj EBITDA Margin         23.2       %             22.2       %             18.1       %      110      bps      515      bps  \n\nThird quarter 2026 PRI revenue of $314 million decreased by $2 million, or 1%\nsequentially, primarily from lower international Pressure Pumping activity,\npartly offset by higher Artificial Lift and Subsea Intervention activity in\nLatin America. Year-over-year PRI revenue decreased by $12 million, or 4%,\nprimarily from lower ISDT and Artificial Lift activity in North America and\nlower Pressure Pumping and ISDT activity in Latin America, partly offset by\nhigher ISDT and Pressure Pumping activity in Europe/Sub-Sahara Africa/Russia.\n\nThird quarter 2026 PRI segment adjusted EBITDA of $73 million increased by $3\nmillion, or 4%, sequentially, primarily from higher international Pressure\nPumping fall through and higher ISDT and Digital Solutions activity and fall\nthrough in the Middle East/North Africa/Asia, partly offset by lower fall\nthrough in North America. Year-over-year PRI segment adjusted EBITDA increased\nby $14 million, or 24% primarily from higher activity and fall through in\nEurope/Sub-Sahara Africa/Russia, and higher fall through in the Middle\nEast/North Africa/Asia, partly offset by lower ISDT and Pressure Pumping\nactivity in Latin America.\n\nRevenue by Geography\n\n                                    Three Months Ended                                           Variance               \n ($ in Millions)                    Sep 30,              Jun 30,              Sep 30,            Seq.          YoY      \n                                    2026                 2026                 2025                                      \n North America                      $    236             $    205             $    243           15   %        (3   )%  \n                                                                                                                        \n International                      $    907             $    900             $    989           1    %        (8   )%  \n Latin America                           225                  197                  214           14   %        5    %   \n Middle East/North Africa/Asia           447                  446                  533           —    %        (16  )%  \n Europe/Sub-Sahara Africa/Russia         235                  257                  242           (9   )%       (3   )%  \n Total Revenue                      $    1,143           $    1,105           $    1,232         3    %        (7   )%  \n\nNorth America\n\nThird quarter 2026 North America revenue of $236 million increased by $31\nmillion, or 15%, sequentially, primarily from higher activity across all\nreported segments, especially Completions activity in U.S. Land and Canada\nLand, partly offset by lower Completions activity in U.S. offshore.\nYear-over-year, North America revenue decreased by $7 million, or 3%,\nprimarily from lower activity in ISDT and Artificial Lift product lines,\nespecially in U.S. Land, partly offset by higher Completions activity.\n\nInternational\n\nThird quarter 2026 international revenue of $907 million increased by $7\nmillion, or 1% sequentially and decreased by $82 million, or 8%\nyear-over-year.\n\nThird quarter 2026 Latin America revenue of $225 million increased by $28\nmillion, or 14% sequentially, primarily from higher Drilling-related Services\nand Integrated Services & Projects (“ISP”) activity in Mexico and higher\nMPD activity in the Caribbean, partly offset by lower Completions and Pressure\nPumping activity. Year-over-year, Latin America revenue increased by $11\nmillion, or 5%, primarily from higher MPD activity in the Caribbean and higher\nCompletions activity, partly offset by lower Drilling-related Services\nactivity in Argentina and Mexico.\n\nThird quarter 2026 Middle East/North Africa/Asia revenue of $447 million was\nlargely flat sequentially, as lower ISP activity was partly offset by higher\nMPD and Liner Hangers activity. Year-over-year, the Middle East/North\nAfrica/Asia revenue decreased by $86 million, or 16%, primarily from subdued\nactivity on account of heightened geopolitical tensions partly offset by\nhigher Cementation Products activity.\n\nThird quarter 2026 Europe/Sub-Sahara Africa/Russia revenue of $235 million\ndecreased by $22 million, or 9% sequentially, primarily from lower activity\nacross the reported segments, partly offset by higher Wireline activity in\nEurope. Year-over-year, Europe/Sub-Sahara Africa/Russia revenue decreased by\n$7 million, or 3%, primarily from lower Wireline and Liner Hangers activity,\npartly offset by higher activity in the PRI segment.\n\nAbout Weatherford\n\nWeatherford is a global energy services company that helps customers drill\nsmarter, complete wells more effectively, and maximize production across the\nentire well lifecycle. With a differentiated portfolio of market-leading\nsolutions, integrated technologies, and a broad global customer footprint\nacross six continents, we blend advanced engineering, digital intelligence,\nand world-class field expertise to reduce risk, improve performance, and\nmaximize the value of customer assets. Together, we elevate every operation,\ndelivering stronger wells, sharper decisions, and better energy for the world.\nVisit weatherford.com for more information and connect with us on social\nmedia.\n\nConference Call Details\n\nWeatherford will host a conference call on Wednesday, October 21, 2026, to\ndiscuss the Company’s results for the third quarter ended September 30,\n2026. The conference call will begin at 8:30 a.m. Eastern Time (7:30 a.m.\nCentral Time).\n\nListeners are encouraged to download the accompanying presentation slides\nwhich will be available in the investor relations section of the Company’s\nwebsite.\n\nListeners can participate in the conference call via a live webcast at\nhttps://www.weatherford.com/investor-relations/investor-news-and-events/events/ or\nby dialing +1 877-328-5344 (within the U.S.) or +1 412-902-6762 (outside of\nthe U.S.) and asking for the Weatherford conference call. Participants should\nlog in or dial in approximately 10 minutes prior to the start of the call.\n\nA telephonic replay of the conference call will be available until November 4,\n2026, at 5:00 p.m. Eastern Time. To access the replay, please dial +1\n855-669-9658 (within the U.S.) or +1 412-317-0088 (outside of the U.S.) and\nreference conference number 2939769. A replay and transcript of the earnings\ncall will also be available in the investor relations section of the\nCompany’s website.\n\nContacts\n\nFor Investors:\nLuke Lemoine\nSenior Vice President, Corporate Development & Investor Relations\n+1 713-836-7777\ninvestor.relations@weatherford.com\n\nFor Media:\nKelley Hughes\nVice President, Communications, Marketing & Sustainability\nmedia@weatherford.com\n\nForward-Looking Statements\n\nThis news release contains projections and forward-looking statements\nconcerning, among other things, the Company’s adjusted EBITDA*, adjusted\nEBITDA margin*, adjusted free cash flow*, shareholder return program,\nforecasts or expectations regarding business outlook, prospects for its\noperations, capital expenditures, expectations regarding future financial\nresults, and are also generally identified by the words “believe,”\n“project,” “expect,” “anticipate,” “estimate,” “outlook,”\n“budget,” “intend,” “strategy,” “plan,” “guidance,”\n“may,” “should,” “could,” “will,” “would,” “will be,”\n“will continue,” “will likely result,” and similar expressions,\nalthough not all forward-looking statements contain these identifying words.\nSuch statements are based upon the current beliefs of Weatherford’s\nmanagement and are subject to significant risks, assumptions, and\nuncertainties. Should one or more of these risks or uncertainties materialize,\nor underlying assumptions prove incorrect, actual results may vary materially\nfrom those indicated in our forward-looking statements. Readers are cautioned\nthat forward-looking statements are only estimates and may differ materially\nfrom actual future events or results, based on factors including but not\nlimited to: global political, economic and market conditions, political\ndisturbances, war or other global conflicts, terrorist attacks, public health\nissues such as pandemics, changes in global trade policies, tariffs and\nsanctions, weak local economic conditions and international currency\nfluctuations; general global economic repercussions related to U.S. and global\ninflationary pressures and potential recessionary concerns; various effects\nfrom the Russia Ukraine conflict, conflicts in the Middle East (including the\nIran conflict) or instability in Latin America, including, but not limited to,\nnationalization of assets, extended business interruptions, sanctions,\ntreaties and regulations (including changes in the regulatory environment)\nimposed by various countries, associated operational and logistical\nchallenges, and impacts to the overall global energy supply; cybersecurity\nissues; our ability to comply with, and respond to, climate change,\nenvironmental, social and governance and other sustainability initiatives and\nfuture legislative and regulatory measures both globally and in specific\ngeographic regions; the price and price volatility of, and demand for, oil and\nnatural gas; the macroeconomic outlook for the oil and gas industry; our\nability to generate cash flow from operations to fund our operations; our\nability to effectively and timely adapt our technology portfolio, products and\nservices to remain competitive, and to address and participate in changes to\nthe market demands, including for the transition to alternate sources of\nenergy such as geothermal, carbon capture and responsible abandonment,\nincluding our digitalization efforts and our incorporation of artificial\nintelligence tools; increases in the prices and lead times, and the lack of\navailability of our procured products and services, including due to\nmacroeconomic and geopolitical conditions such as tariffs and changes in trade\npolicies; our ability to timely collect from customers; our ability to manage\nour workforce and systems, including the impact of our enterprise resource\nplanning system implementation and business enhancements; our ability to\neffectively execute our capital allocation framework; our ability to return\ncapital to shareholders, including those related to the timing and amounts\n(including any plans or commitments in respect thereof) of any dividends and\nshare repurchases; the realization of additional cost savings and operational\nefficiencies, including as a result of our proposed Redomestication from\nIreland to Delaware; our ability to receive, in a timely manner and on\nsatisfactory terms, required court approval and to satisfy the other\nconditions to the proposed Redomestication within the expected timeframe or at\nall; our ability to realize the expected benefits from the proposed\nRedomestication; the occurrence of difficulties in connection with the\nRedomestication, including any costs related thereto; the risk that the\nproposed Redomestication disrupts current plans and operations; any changes in\ntax laws, tax treaties or tax regulations or the interpretation or enforcement\nthereof by the tax authorities in Ireland, the United States and other\njurisdictions following the proposed Redomestication; the future financial\nperformance of Weatherford following the Redomestication; our ability to\nsuccessfully integrate NCS Multistage and to achieve the anticipated benefits\nand synergies of the acquisition within the expected time period or at all.\n\nThese risks and uncertainties are more fully described in Weatherford’s\nreports and registration statements filed with the U.S. Securities and\nExchange Commission (the “SEC”), including the risk factors described in\nthe Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.\nAccordingly, you should not place undue reliance on any of the Company’s\nforward-looking statements. Any forward-looking statement speaks only as of\nthe date on which such statement is made, and the Company undertakes no\nobligation to correct or update any forward-looking statement, whether as a\nresult of new information, future events or otherwise, except as required by\napplicable law.\n\n(*Non-GAAP – refer to the section titled Non-GAAP Financial Measures Defined\nand GAAP to Non-GAAP Financial Measures Reconciled)\n\n Weatherford International plc                                                                                                                                                              \n Selected Statements of Operations (Unaudited)                                                                                                                                              \n                                                                                                                                                                                            \n                                                                            Three Months Ended                                                   Nine Months Ended                          \n ($ in Millions, Except Per Share Amounts)                                  September              June 30, 2026            September            September               September          \n                                                                            30, 2026                                        30, 2025             30, 2026                30, 2025           \n Revenues:                                                                                                                                                                                  \n DRE Revenues                                                               $     331              $      291               $     346            $     943               $     1,031        \n WCC Revenues                                                                     450                     433                     468                  1,326                   1,365        \n PRI Revenues                                                                     314                     316                     326                  926                     987          \n All Other                                                                        48                      65                      92                   205                     246          \n Total Revenues                                                                   1,143                   1,105                   1,232                3,400                   3,629        \n                                                                                                                                                                                            \n Operating Income:                                                                                                                                                                          \n DRE Segment Adjusted EBITDA ([1])                                          $     90               $      58                $     83             $     220               $     226          \n WCC Segment Adjusted EBITDA ([1])                                                100                     107                     125                  317                     371          \n PRI Segment Adjusted EBITDA ([1])                                                73                      70                      59                   197                     184          \n All Other ([2])                                                                  10                      6                       14                   29                      37           \n Corporate ([2])                                                                  (19    )                (18    )                (12    )             (53    )                (42    )     \n Depreciation and Amortization                                                    (70    )                (71    )                (67    )             (211   )                (193   )     \n Share-based Compensation                                                         (15    )                (11    )                (10    )             (38    )                (26    )     \n Gain on Sale of Business                                                         —                       —                       —                    —                       70           \n Restructuring Charges                                                            (6     )                (9     )                (11    )             (28    )                (51    )     \n Redomestication                                                                  (6     )                (12    )                —                    (30    )                —            \n Other Charges, Net                                                               (4     )                (13    )                (3     )             (20    )                (19    )     \n Operating Income                                                                 153                     107                     178                  383                     557          \n                                                                                                                                                                                            \n Other Expense:                                                                                                                                                                             \n Interest Expense, Net of Interest Income of $13, $11, $11, $34, and $36          (15    )                (16    )                (23    )             (48    )                (70    )     \n Other Expense, Net                                                               (9     )                (16    )                (16    )             (26    )                (61    )     \n Income Before Income Taxes                                                       129                     75                      139                  309                     426          \n Income Tax Provision                                                             (4     )                (33    )                (52    )             (33    )                (108   )     \n Net Income                                                                       125                     42                      87                   276                     318          \n Net Income Attributable to Noncontrolling Interests                              5                       3                       6                    9                       25           \n Net Income Attributable to Weatherford                                     $     120              $      39                $     81             $     267               $     293          \n                                                                                                                                                                                            \n Basic Income Per Share                                                     $     1.66             $      0.55              $     1.13           $     3.71              $     4.04         \n Basic Weighted Average Shares Outstanding                                        71.9                    71.9                    71.9                 71.9                    72.4         \n                                                                                                                                                                                            \n Diluted Income Per Share                                                   $     1.66             $      0.55              $     1.12           $     3.70              $     4.02         \n Diluted Weighted Average Shares Outstanding                                      72.2                    72.2                    72.2                 72.2                    72.7         \n ([1] Segment adjusted EBITDA is our primary measure of segment profitability under U.S. GAAP ASC 280 “Segment Reporting” and represents segment earnings before interest, taxes, depreciation, amortization, share-based compensation, restructuring charges and other adjustments. Research and development expenses are included in segment adjusted EBITDA.) ([2] All Other includes results from non-core business activities (including integrated services and projects), and Corporate includes overhead support and \n centrally managed or shared facilities costs. All Other and Corporate do not individually meet the criteria for segment reporting.)                                                        \n\n\n\n Weatherford International plc                                                              \n Selected Balance Sheet Data (Unaudited)                                                    \n                                                                                            \n ($ in Millions)                       September 30, 2026           December 31, 2025       \n Assets:                                                                                    \n Cash and Cash Equivalents             $        1,161               $       987             \n Restricted Cash                                37                          55              \n Accounts Receivable, Net                       1,105                       1,234           \n Inventories, Net                               861                         836             \n Property, Plant and Equipment, Net             1,160                       1,124           \n Intangibles, Net                               288                         285             \n                                                                                            \n Liabilities:                                                                               \n Accounts Payable                               595                         650             \n Accrued Salaries and Benefits                  277                         285             \n Current Portion of Long-term Debt              264                         30              \n Long-term Debt                                 1,216                       1,455           \n                                                                                            \n Shareholders’ Equity:                                                                      \n Total Shareholders’ Equity                     1,992                       1,696           \n\n\n\n Weatherford International plc                                                                                                                                                                                                   \n Selected Cash Flows Information (Unaudited)                                                                                                                                                                                     \n                                                                                                                                                                                                                                 \n                                                                                                                        Three Months Ended                                              Nine Months Ended                        \n ($ in Millions)                                                                                                        September             June                  September           September              September         \n                                                                                                                        30, 2026              30, 2026              30, 2025            30, 2026               30, 2025          \n Cash Flows From Operating Activities:                                                                                                                                                                                           \n Net Income                                                                                                             $     125             $     42              $     87            $     276              $     318         \n Adjustments to Reconcile Net Income to Net Cash Provided By Operating Activities:                                                                                                                                               \n Depreciation and Amortization                                                                                                70                    71                    67                  211                    193         \n Foreign Exchange Losses                                                                                                      5                     10                    10                  11                     40          \n Gain on Disposition of Assets                                                                                                (15   )               (7    )               (2    )             (28   )                (6    )     \n Gain on Sale of Business                                                                                                     —                     —                     —                   —                      (70   )     \n Deferred Income Tax Provision (Benefit)                                                                                      (44   )               —                     11                  (35   )                13          \n Share-Based Compensation                                                                                                     15                    11                    10                  38                     26          \n Changes in Accounts Receivable, Inventory, Accounts Payable, Accrued Salaries and Benefits and Income Taxes Payable          27                    64                    (69   )             65                     (116  )     \n Other Changes, Net                                                                                                           9                     (16   )               24                  (35   )                10          \n Net Cash Provided By Operating Activities                                                                                    192                   175                   138                 503                    408         \n                                                                                                                                                                                                                                 \n Cash Flows From Investing Activities:                                                                                                                                                                                           \n Capital Expenditures for Property, Plant and Equipment                                                                       (45   )               (42   )               (44   )             (141  )                (175  )     \n Proceeds from Disposition of Assets                                                                                          8                     6                     5                   17                     11          \n Proceeds from Sale of Business                                                                                               —                     —                     —                   —                      97          \n Purchases of Blue Chip Swap Securities                                                                                       (9    )               (11   )               (20   )             (23   )                (103  )     \n Proceeds from Sales of Blue Chip Swap Securities                                                                             8                     11                    20                  22                     102         \n Business Acquisition, Net of Cash Acquired                                                                                   (13   )               —                     —                   (13   )                —           \n Other Investing Activities                                                                                                   (3    )               (6    )               (7    )             (26   )                (14   )     \n Net Cash Used In Investing Activities                                                                                        (54   )               (42   )               (46   )             (164  )                (82   )     \n                                                                                                                                                                                                                                 \n Cash Flows From Financing Activities:                                                                                                                                                                                           \n Repayments of Long-term Debt                                                                                                 (8    )               (9    )               (7    )             (25   )                (80   )     \n Distributions to Noncontrolling Interests                                                                                    (4    )               (5    )               (8    )             (9    )                (16   )     \n Tax Remittance on Equity Awards                                                                                              (2    )               (1    )               —                   (20   )                (20   )     \n Share Repurchases                                                                                                            (28   )               (16   )               (7    )             (54   )                (94   )     \n Dividends Paid                                                                                                               (19   )               (20   )               (18   )             (59   )                (54   )     \n Other Financing Activities                                                                                                   (1    )               2                     (7    )             —                      (13   )     \n Net Cash Used In Financing Activities                                                                                  $     (62   )         $     (49   )         $     (47   )       $     (167  )          $     (277  )     \n\n\n\n Weatherford International plc                    \n Non-GAAP Financial Measures Defined (Unaudited)  \n\nWe report our financial results in accordance with U.S. generally accepted\naccounting principles (GAAP). However, Weatherford’s management believes\nthat certain non-GAAP financial measures (as defined under the SEC’s\nRegulation G and Item 10(e) of Regulation S-K) may provide users of this\nfinancial information additional meaningful comparisons between current\nresults and results of prior periods and comparisons with peer companies. The\nnon-GAAP amounts shown in the following tables should not be considered as\nsubstitutes for results reported in accordance with GAAP but should be viewed\nin addition to the Company’s reported results prepared in accordance with\nGAAP.\n\nAdjusted EBITDA* – Adjusted EBITDA* is a non-GAAP measure and represents\nconsolidated income before interest expense, net, income taxes, depreciation\nand amortization expense, and excludes, among other items, restructuring\ncharges, share-based compensation expense, as well as other charges and\ncredits. Management believes adjusted EBITDA* is useful to assess and\nunderstand normalized operating performance and trends. Adjusted EBITDA*\nshould be considered in addition to, but not as a substitute for consolidated\nnet income and should be viewed in addition to the Company's reported results\nprepared in accordance with GAAP.\n\nAdjusted EBITDA margin* – Adjusted EBITDA margin* is a non-GAAP measure\nwhich is calculated by dividing consolidated adjusted EBITDA* by consolidated\nrevenues. Management believes adjusted EBITDA margin* is useful to assess and\nunderstand normalized operating performance and trends. Adjusted EBITDA\nmargin* should be considered in addition to, but not as a substitute for\nconsolidated net income margin and should be viewed in addition to the\nCompany's reported results prepared in accordance with GAAP.\n\nAdjusted Free Cash Flow* – Adjusted Free Cash Flow* is a non-GAAP measure\nand represents cash flows provided by (used in) operating activities, less\ncapital expenditures plus proceeds from the disposition of assets. Management\nbelieves adjusted free cash flow* is useful to understand our performance at\ngenerating cash and demonstrates our discipline around the use of cash.\nAdjusted free cash flow* should be considered in addition to, but not as a\nsubstitute for cash flows provided by operating activities and should be\nviewed in addition to the Company's reported results prepared in accordance\nwith GAAP.\n\nAdjusted Free Cash Flow Conversion* – Adjusted free cash flow conversion* is\na non-GAAP measure that is calculated by dividing adjusted free cash flow* by\nadjusted EBITDA*. Management believes adjusted free cash flow conversion* is\nuseful to assess the level of normalized liquidity generated in the operating\ncycle. Adjusted free cash flow conversion* should be considered in addition\nto, but not as a substitute for the GAAP measures described above for the\nrespective components, and should be viewed in addition to the Company’s\nreported results prepared in accordance with GAAP.\n\nNet Debt* – Net Debt* is a non-GAAP measure that is calculated taking short\nand long-term debt less cash and cash equivalents and restricted cash.\nManagement believes the net debt* is useful to assess the level of debt in\nexcess of cash and cash equivalents as we monitor our ability to repay and\nservice our debt. Net debt* should be considered in addition to, but not as a\nsubstitute for overall debt and total cash and should be viewed in addition to\nthe Company’s results prepared in accordance with GAAP.\n\nNet Leverage* – Net Leverage* is a non-GAAP measure which is calculated by\ntaking net debt* divided by adjusted EBITDA* for the trailing 12 months.\nManagement believes the net leverage* is useful to understand our ability to\nrepay and service our debt. Net leverage* should be considered in addition to,\nbut not as a substitute for, the individual components of above defined net\ndebt* divided by consolidated net income attributable to Weatherford and\nshould be viewed in addition to the Company’s reported results prepared in\naccordance with GAAP.\n\nGross Leverage* – Gross Leverage* is a non-GAAP measure which is calculated\nby dividing total debt by adjusted EBITDA* for the trailing 12 months.\nManagement believes gross leverage* is useful to understand our ability to\nrepay and service our debt. Gross leverage* should be considered in addition\nto, but not as a substitute for, total debt divided by consolidated net income\nattributable to Weatherford and should be viewed in addition to the\nCompany’s reported results prepared in accordance with GAAP.\n\n(*Non-GAAP – as defined above and reconciled to the GAAP measures in the\nsection titled GAAP to Non-GAAP Financial Measures Reconciled)\n\n Weatherford International plc                                                                                                                                                              \n GAAP to Non-GAAP Financial Measures Reconciled (Unaudited)                                                                                                                                 \n                                                                                                                                                                                            \n                                                                            Three Months Ended                                                   Nine Months Ended                          \n ($ in Millions, Except Margin in Percentages)                              September              June 30, 2026            September            September               September          \n                                                                            30, 2026                                        30, 2025             30, 2026                30, 2025           \n Revenues                                                                   $     1,143            $      1,105             $     1,232          $     3,400             $     3,629        \n Net Income Attributable to Weatherford                                     $     120              $      39                $     81             $     267               $     293          \n Net Income Margin                                                                10.5   %                3.5    %                6.6    %             7.9    %                8.1    %     \n Adjusted EBITDA*                                                           $     254              $      223               $     269            $     710               $     776          \n Adjusted EBITDA Margin*                                                          22.2   %                20.2   %                21.8   %             20.9   %                21.4   %     \n                                                                                                                                                                                            \n Net Income Attributable to Weatherford                                     $     120              $      39                $     81             $     267               $     293          \n Net Income Attributable to Noncontrolling Interests                              5                       3                       6                    9                       25           \n Income Tax Provision                                                             4                       33                      52                   33                      108          \n Interest Expense, Net of Interest Income of $13, $11, $11, $34, and $36          15                      16                      23                   48                      70           \n Other Expense, Net                                                               9                       16                      16                   26                      61           \n Operating Income                                                                 153                     107                     178                  383                     557          \n Depreciation and Amortization                                                    70                      71                      67                   211                     193          \n Other Charges, Net ([1])                                                         4                       13                      3                    20                      19           \n Gain on Sale of Business                                                         —                       —                       —                    —                       (70    )     \n Restructuring Charges                                                            6                       9                       11                   28                      51           \n Redomestication                                                                  6                       12                      —                    30                      —            \n Share-Based Compensation                                                         15                      11                      10                   38                      26           \n Adjusted EBITDA*                                                           $     254              $      223               $     269            $     710               $     776          \n                                                                                                                                                                                            \n Net Cash Provided By Operating Activities                                  $     192              $      175               $     138            $     503               $     408          \n Capital Expenditures for Property, Plant and Equipment                           (45    )                (42    )                (44    )             (141   )                (175   )     \n Proceeds from Disposition of Assets                                              8                       6                       5                    17                      11           \n Adjusted Free Cash Flow*                                                   $     155              $      139               $     99             $     379               $     244          \n ([1] Other Charges, Net in the three and nine months ended September 30, 2026 primarily includes mergers and acquisitions costs. Other Charges, Net in the three and nine months ended September 30, 2025 primarily includes fees to third-party financial institutions related to collections of certain receivables from our largest customer in Mexico and other miscellaneous charges and credits.) \n                                                                                                                                                                                            \n (*Non-GAAP – as reconciled to the GAAP measures above and defined in the section titled Non-GAAP Financial Measures Defined)                                                               \n\n\n\n Weatherford International plc                                                                                  \n GAAP to Non-GAAP Financial Measures Reconciled Continued (Unaudited)                                           \n                                                                                                                \n ($ in Millions)                               September             June 30, 2026           September          \n                                               30, 2026                                      30, 2025           \n Current Portion of Long-term Debt             $     264             $      30               $     126          \n Long-term Debt                                      1,216                  1,450                  1,462        \n Total Debt                                    $     1,480           $      1,480            $     1,588        \n                                                                                                                \n Cash and Cash Equivalents                     $     1,161           $      1,100            $     967          \n Restricted Cash                                     37                     37                     64           \n Total Cash                                    $     1,198           $      1,137            $     1,031        \n                                                                                                                \n Components of Net Debt                                                                                         \n Current Portion of Long-term Debt             $     264             $      30               $     126          \n Long-term Debt                                      1,216                  1,450                  1,462        \n Less: Cash and Cash Equivalents                     1,161                  1,100                  967          \n Less: Restricted Cash                               37                     37                     64           \n Net Debt*                                     $     282             $      343              $     557          \n                                                                                                                \n Net Income for trailing 12 months             $     405             $      366              $     405          \n Adjusted EBITDA* for trailing 12 months       $     1,001           $      1,016            $     1,102        \n                                                                                                                \n Net Leverage* (Net Debt*/Adjusted EBITDA*)          0.28   x               0.34   x               0.51   x     \n (*Non-GAAP – as reconciled to the GAAP measures above and defined in the section titled Non-GAAP Financial Measures Defined) \n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/8629f368-6bdb-484f-8803-80f2179fcd30)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-10-20T20:30:00.695554356Z","server_sent_at_ms":1792528200695},"received_at":"2026-10-20T20:30:01.836Z","source_url":null},"analysis":{"id":"162759","press_release_id":"174707","analysis_json":{"industry":{"label":"Energy Equipment & Services","sector":"Energy"},"redFlags":["Revenue down 7% year-over-year with Middle East/North Africa/Asia down 16% on geopolitical tensions","WCC segment adjusted EBITDA down 20% YoY on margin compression","Q4 recovery expectations dampened by conflict-related activity disruptions in the Middle East"],"eventType":"earnings","narrative":"Weatherford reported Q3 2026 revenue of $1,143 million (down 7% YoY but up 3% sequentially), with net income of $120 million, up 48% year-over-year, and diluted EPS of $1.66.\n\nAdjusted EBITDA of $254 million carried a 22.2% margin, up 204 basis points sequentially, and adjusted free cash flow of $155 million rose 57% year-over-year; management is raising full-year FCF guidance again despite Middle East disruption.\n\nThe company closed the NCS Multistage acquisition, issued notice to redeem its remaining $236 million of 8.625% 2030 Senior Notes (cutting annualized interest expense ~$20 million), won shareholder approval for the Ireland-to-Delaware redomestication ($20-30 million annual savings), and saw Fitch, S&P, and Moody's move to positive outlooks.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Margin and cash-flow beat despite Middle East drag -- deleveraging, buybacks, raised FCF guidance, and NCS Multistage synergy story into 2027."},"keyFigures":{"eps":1.66,"revenue":1143000000,"guidance":"Meaningful Q4 ramp in adjusted EBITDA; increasing full-year adjusted free cash flow guidance yet again","revenueYoy":"-7%","customDimensions":{"fcf":155000000,"capex":45000000,"net_debt":282000000,"net_income":120000000,"revenue_seq":"+3%","net_leverage":"0.28x","adjusted_ebitda":254000000,"operating_income":153000000,"net_income_margin":"10.5%","dividend_per_share":0.275,"operating_cash_flow":192000000,"shareholder_returns":47000000,"adjusted_ebitda_margin":"22.2%","note_redemption_principal":236000000}},"quotedText":"The One Weatherford team delivered an excellent third quarter, with adjusted EBITDA margin* expanding 204 basis points sequentially to 22.2% and adjusted free cash flow* of $155 million.","namedEntities":{"people":[{"name":"Girish Saligram","role":"President and CEO"},{"name":"Luke Lemoine","role":"SVP, Corporate Development & Investor Relations"},{"name":"Kelley Hughes","role":"VP, Communications, Marketing & Sustainability"}],"products":["Foresite","Cygnet","Magnus Saker","Dual Advanced Kickover Tool","DV (Differential Valve) Tool","MARS","ForeSite Power Regenerative System","SandSure XT"],"companies":[{"name":"Weatherford International plc","ticker":"WFRD"},{"name":"NCS Multistage Holdings, Inc.","relationship":"acquired company"},{"name":"Equinor","relationship":"customer"},{"name":"Seplat Energy","relationship":"customer"},{"name":"Kuwait Oil Company","relationship":"customer"},{"name":"Brunei Shell Petroleum","relationship":"customer"},{"name":"Eldorado Drilling (formerly Vantage Drilling)","relationship":"customer"},{"name":"Fitch Ratings","relationship":"credit rating agency"},{"name":"S&P Global Ratings","relationship":"credit rating agency"},{"name":"Moody's","relationship":"credit rating agency"}],"dollarAmounts":[{"amount":"$1,143 million","context":"Q3 2026 revenue"},{"amount":"$120 million","context":"Q3 2026 net income"},{"amount":"$254 million","context":"Q3 2026 adjusted EBITDA"},{"amount":"$155 million","context":"Q3 2026 adjusted free cash flow"},{"amount":"$236 million","context":"aggregate principal of 8.625% Senior Notes due 2030 being redeemed"},{"amount":"$47 million","context":"Q3 shareholder returns (dividends + buybacks)"},{"amount":"$0.275","context":"declared cash dividend per share"},{"amount":"$20 million to $30 million","context":"expected annual cash savings from Delaware redomestication"}]},"materialImpact":{"score":4,"reasoning":"Q3 results show strong sequential and YoY earnings growth (net income +48% YoY to $120M, EPS $1.66), margin expansion, raised full-year FCF guidance, a completed NCS Multistage acquisition, and a $236M note redemption. Revenue is down 7% YoY on Middle East disruptions, tempering but not negating the positive picture."},"tickerRelevance":{"others":[],"primary":"WFRD"},"globalImportance":48,"audienceRelevance":35,"eventTypeSecondary":["m_and_a","debt_offering","dividend","buyback"],"importanceComponents":{"tickerTier":"mid-cap","eventGravity":"quarterly-earnings-with-multiple-strategic-updates","sectorWeight":"energy-services","marketCapAdjustment":"S&P mid-cap, not household name","retailFavoriteBoost":false}},"event_type":"earnings","event_type_secondary":["m_and_a","debt_offering","dividend","buyback"],"sentiment":"bullish","material_impact_score":4,"narrative":"Weatherford reported Q3 2026 revenue of $1,143 million (down 7% YoY but up 3% sequentially), with net income of $120 million, up 48% year-over-year, and diluted EPS of $1.66.\n\nAdjusted EBITDA of $254 million carried a 22.2% margin, up 204 basis points sequentially, and adjusted free cash flow of $155 million rose 57% year-over-year; management is raising full-year FCF guidance again despite Middle East disruption.\n\nThe company closed the NCS Multistage acquisition, issued notice to redeem its remaining $236 million of 8.625% 2030 Senior Notes (cutting annualized interest expense ~$20 million), won shareholder approval for the Ireland-to-Delaware redomestication ($20-30 million annual savings), and saw Fitch, S&P, and Moody's move to positive outlooks.","key_figures":{"eps":1.66,"revenue":1143000000,"guidance":"Meaningful Q4 ramp in adjusted EBITDA; increasing full-year adjusted free cash flow guidance yet again","revenueYoy":"-7%","customDimensions":{"fcf":155000000,"capex":45000000,"net_debt":282000000,"net_income":120000000,"revenue_seq":"+3%","net_leverage":"0.28x","adjusted_ebitda":254000000,"operating_income":153000000,"net_income_margin":"10.5%","dividend_per_share":0.275,"operating_cash_flow":192000000,"shareholder_returns":47000000,"adjusted_ebitda_margin":"22.2%","note_redemption_principal":236000000}},"named_entities":{"people":[{"name":"Girish Saligram","role":"President and CEO"},{"name":"Luke Lemoine","role":"SVP, Corporate Development & Investor Relations"},{"name":"Kelley Hughes","role":"VP, Communications, Marketing & Sustainability"}],"products":["Foresite","Cygnet","Magnus Saker","Dual Advanced Kickover Tool","DV (Differential Valve) Tool","MARS","ForeSite Power Regenerative System","SandSure XT"],"companies":[{"name":"Weatherford International plc","ticker":"WFRD"},{"name":"NCS Multistage Holdings, Inc.","relationship":"acquired company"},{"name":"Equinor","relationship":"customer"},{"name":"Seplat Energy","relationship":"customer"},{"name":"Kuwait Oil Company","relationship":"customer"},{"name":"Brunei Shell Petroleum","relationship":"customer"},{"name":"Eldorado Drilling (formerly Vantage Drilling)","relationship":"customer"},{"name":"Fitch Ratings","relationship":"credit rating agency"},{"name":"S&P Global Ratings","relationship":"credit rating agency"},{"name":"Moody's","relationship":"credit rating agency"}],"dollarAmounts":[{"amount":"$1,143 million","context":"Q3 2026 revenue"},{"amount":"$120 million","context":"Q3 2026 net income"},{"amount":"$254 million","context":"Q3 2026 adjusted EBITDA"},{"amount":"$155 million","context":"Q3 2026 adjusted free cash flow"},{"amount":"$236 million","context":"aggregate principal of 8.625% Senior Notes due 2030 being redeemed"},{"amount":"$47 million","context":"Q3 shareholder returns (dividends + buybacks)"},{"amount":"$0.275","context":"declared cash dividend per share"},{"amount":"$20 million to $30 million","context":"expected annual cash savings from Delaware redomestication"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-20T20:30:14.942Z","global_importance":48,"audience_relevance":35,"importance_components":{"tickerTier":"mid-cap","eventGravity":"quarterly-earnings-with-multiple-strategic-updates","sectorWeight":"energy-services","marketCapAdjustment":"S&P mid-cap, not household name","retailFavoriteBoost":false}},"durationMs":7940,"modelName":"glm-5.3-flashx"}}