WFRD Q2 revenue fell 8% as Iran Conflict disrupted Middle East; operating income -55%

Filed July 22, 2026 · Period ending June 30, 2026 · Compared to 10-Q Jul 23, 2025 · ~2 min read

Key Changes

• high

  Q2 operating income fell 55% YoY to $107M (from $237M) as Iran Conflict disrupted Middle East operations, North America activity declined, and fixed costs declined more slowly than the 8% revenue drop. Cost ratio rose to 70% from 69%.

  MD&A: Operating Income & Cost Structure verify on EDGAR →
• high

  Announced definitive merger to acquire NCS Multistage Holdings for shares or shares-plus-cash, expected to close H2 2026, expanding product portfolio. Separately, shareholders vote Sept 3 on redomestication from Ireland to Delaware.

  MD&A: Recent Developments verify on EDGAR →
• high

  Iran Conflict (began Feb 2026) disrupted Middle East operations, increased logistics/insurance costs, and drove revenue declines despite higher oil prices (WTI $95.75 vs. $64.63 prior year). Outlook centers on pace of Middle East recovery with continued volatility expected.

  MD&A: Iran Conflict & Outlook verify on EDGAR →