NASDAQ: WFRD
Weatherford International plcCIK 0001603923 · SIC 3533 · Oil & Gas Field Machinery & Equipment
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Weatherford International (WFRD) to acquire NCS Multistage via merger; NCS shareholders to receive 0.5537 WFRD shares per NCS share or mixed consideration
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WFRD: revenue $1.10B, net income $39.0M. WFRD Q2 revenue fell 8% as Iran Conflict disrupted Middle East; operating income -55%
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Weatherford Q2 revenue falls 4% to $1.1B on Middle East disruption; acquires NCS Multistage
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Weatherford's Ireland-to-Texas redomestication fails despite 60%+ support; Delaware plan next
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Weatherford to acquire NCS Multistage Holdings in all-stock or mixed consideration deal
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Latest financial statements
From 10-Q filed Jul 22, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(Dollars and shares in millions, except per share amounts)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Revenue: | ||||
| Services | 676 | 732 | 1,387 | 1,473 |
| Products | 429 | 472 | 870 | 924 |
| Total Revenue | 1,105 | 1,204 | 2,257 | 2,397 |
| Costs and Expenses: | ||||
| Cost of Services | 443 | 464 | 919 | 928 |
| Cost of Products | 329 | 365 | 665 | 720 |
| Research and Development | 20 | 30 | 41 | 59 |
| Selling, General and Administrative | 172 | 164 | 340 | 325 |
| Gain on Sale of Business | — | (70) | — | (70) |
| Restructuring Charges | 9 | 11 | 22 | 40 |
| Other Charges, Net | 25 | 3 | 40 | 16 |
| Total Costs and Expenses | 998 | 967 | 2,027 | 2,018 |
| Operating Income | 107 | 237 | 230 | 379 |
| Other Expense: | ||||
| Interest Expense, Net of Interest Income of $11, $14, $21 and $25 | (16) | (21) | (33) | (47) |
| Other Expense, Net | (16) | (25) | (17) | (45) |
| Income Before Income Taxes | 75 | 191 | 180 | 287 |
| Income Tax Provision | (33) | (46) | (29) | (56) |
| Net Income | 42 | 145 | 151 | 231 |
| Net Income Attributable to Noncontrolling Interests | 3 | 9 | 4 | 19 |
| Net Income Attributable to Weatherford | 39 | 136 | 147 | 212 |
| Basic Income per Share | 0.55 | 1.87 | 2.05 | 2.91 |
| Basic Weighted Average Shares Outstanding | 71.9 | 72.2 | 71.9 | 72.7 |
| Diluted Income per Share | 0.55 | 1.87 | 2.04 | 2.90 |
| Diluted Weighted Average Shares Outstanding | 72.2 | 72.4 | 72.2 | 72.9 |
Condensed Consolidated Balance Sheets (Unaudited)
(Dollars and shares in millions, except par value)
| Description | June 30, 2026 (Unaudited) | December 31, 2025 |
|---|---|---|
| Assets: | ||
| Cash and Cash Equivalents | 1,100 | 987 |
| Restricted Cash | 37 | 55 |
| Accounts Receivable, Net of Allowance for Credit Losses of $12 at June 30, 2026 and $10 at December 31, 2025 | 1,104 | 1,234 |
| Inventories, Net | 811 | 836 |
| Other Current Assets | 246 | 260 |
| Total Current Assets | 3,298 | 3,372 |
| Property, Plant and Equipment, Net of Accumulated Depreciation of $1,220 at June 30, 2026 and $1,150 at December 31, 2025 | 1,131 | 1,124 |
| Intangibles, Net of Accumulated Amortization of $858 at June 30, 2026 and $828 at December 31, 2025 | 265 | 285 |
| Operating Lease Assets | 118 | 128 |
| Other Non-Current Assets | 290 | 288 |
| Total Assets | 5,102 | 5,197 |
| Liabilities: | ||
| Current Portion of Long-term Debt | 30 | 30 |
| Accounts Payable | 625 | 650 |
| Accrued Salaries and Benefits | 241 | 285 |
| Income Taxes Payable | 95 | 129 |
| Current Portion of Operating Lease Liabilities | 42 | 48 |
| Other Current Liabilities | 374 | 395 |
| Total Current Liabilities | 1,407 | 1,537 |
| Long-term Debt | 1,450 | 1,455 |
| Operating Lease Liabilities | 100 | 109 |
| Non-current Taxes Payable | 217 | 242 |
| Other Non-Current Liabilities | 139 | 158 |
| Total Liabilities | 3,313 | 3,501 |
| Shareholders’ Equity: | ||
| Ordinary Shares Par Value $0.001; Authorized 1,356 shares, Issued and Outstanding 71.8 shares at June 30, 2026 and 71.6 at December 31, 2025 | — | — |
| Capital in Excess of Par Value | 2,794 | 2,815 |
| Retained Deficit | (1,022) | (1,129) |
| Accumulated Other Comprehensive Income | 16 | 13 |
| Shareholders’ Equity | 1,788 | 1,699 |
| Noncontrolling Interests | 1 | (3) |
| Total Shareholders’ Equity | 1,789 | 1,696 |
| Total Liabilities and Shareholders’ Equity | 5,102 | 5,197 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(Dollars in millions)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash Flows From Operating Activities: | ||
| Net Income | 151 | 231 |
| Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: | ||
| Depreciation and Amortization | 141 | 126 |
| Foreign Exchange Losses | 6 | 30 |
| Gain on Disposition of Assets | (13) | (4) |
| Gain on Sale of Business | — | (70) |
| Deferred Income Tax Provision | 9 | 2 |
| Share-Based Compensation | 23 | 16 |
| Changes in Accounts Receivable, Inventory, Accounts Payable, Accrued Salaries and Benefits and Income Taxes Payable: | ||
| Accounts Receivable | 143 | 132 |
| Inventories | (3) | (7) |
| Accounts Payable | (28) | (107) |
| Accrued Salaries and Benefits | (44) | (57) |
| Income Taxes Payable | (30) | (8) |
| Other Changes, Net | (44) | (14) |
| Net Cash Provided by Operating Activities | 311 | 270 |
| Cash Flows From Investing Activities: | ||
| Capital Expenditures for Property, Plant and Equipment | (96) | (131) |
| Proceeds from Disposition of Assets | 9 | 6 |
| Proceeds from Sale of Business | — | 97 |
| Purchases of Blue Chip Swap Securities | (14) | (83) |
| Proceeds from Sales of Blue Chip Swap Securities | 14 | 82 |
| Other Investing Activities | (23) | (7) |
| Net Cash Used in Investing Activities | (110) | (36) |
| Cash Flows From Financing Activities: | ||
| Repayments of Long-term Debt | (17) | (73) |
| Distributions to Noncontrolling Interests | (5) | (8) |
| Tax Remittance on Equity Awards Vested | (18) | (20) |
| Share Repurchases | (26) | (87) |
| Dividends Paid | (40) | (36) |
| Other Financing Activities | 1 | (6) |
| Net Cash Used in Financing Activities | (105) | (230) |
| Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash | (1) | 24 |
| Net Increase in Cash, Cash Equivalents and Restricted Cash | 95 | 28 |
| Cash, Cash Equivalents and Restricted Cash at Beginning of Period | 1,042 | 975 |
| Cash, Cash Equivalents and Restricted Cash at End of Period | 1,137 | 1,003 |
| Supplemental Cash Flow Information: | ||
| Interest Paid | 55 | 70 |
| Income Taxes Paid, Net of Refunds | 82 | 86 |
Amounts as printed on the EDGAR/iXBRL face — (Dollars and shares in millions, except per share amounts); (Dollars and shares in millions, except par value); (Dollars in millions). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗