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- Q2 Net Income Down 64% Sequentially And 71% Year-Over-Year (new) — Sharp profit decline attributed to Middle East conflict disruption, raising questions about exposure to geopolitical risk and recovery timeline.
- Texas Redomestication Proposal Failed Despite 60% Support (new) — Significant shareholder opposition (40% voted against) to prior redomestication plan suggests governance concerns or skepticism about restructuring benefits.
Weatherford Q2 revenue falls 4% to $1.1B on Middle East disruption; acquires NCS Multistage
Filed July 21, 2026 · Period ending July 21, 2026 · ~2 min read
Key Changes
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high
Q2 2026 revenue declined 4% sequentially to $1,105M, with net income down 64% to $39M (3.5% margin), driven by Middle East conflict disruption. Adjusted EBITDA fell 4% to $223M (20.2% margin).
Exhibit 99.1 view on EDGAR → -
high
Announced acquisition of NCS Multistage in stock-and-cash transaction to expand well completions portfolio, with at least in expected cost synergies upon closing and integration.
Exhibit 99.1 view on EDGAR → -
high
Introduced updated plan to redomesticate from Ireland to Delaware after prior Texas proposal received 60% support but failed to reach required 75% threshold. Delaware plan expected to generate $20-30M in annual cash savings starting 2027.
Exhibit 99.1 view on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Source-verified from EDGAR · Narrative written by AI · Jul 22, 2026 · How we verify