Weatherford International plc reported second-quarter 2026 results with revenue of $1.11B, down from $1.2B a year earlier, and diluted EPS of $0.55 versus $1.87 in the prior-year quarter; net income attributable to Weatherford fell to $39M from $136M. — 10-Q Summary
Financial Highlights
| MetricCurrent quarterPrior year quarterYoY change | Revenue¹$1.11B$1.2B(8.2%) | Net income²$39M$136M(71.3%) | Diluted EPS³$0.55$1.87(70.6%) |
¹ Reported as “Total Revenue”. ² Reported as “Net Income Attributable to Weatherford”. ³ Reported as “Diluted Income per Share”.
Business Highlights
- Revenue trends were down year-over-year (Q2 down 8%, YTD down 6%) with declines across all segments, driven by lower activity particularly in DRE and the Middle East.
- Product and service revenues fell at similar rates; wireline, drilling services and artificial lift experienced the largest drops in activity.
- Margins showed resilience due to cost reductions, headcount cuts and lower R&D spend; PRI margins improved on higher‑margin intervention work.
- Geographic impact from the Iran conflict depressed MENA activity, while Europe, Sub‑Sahara/Russia and Latin America provided pockets of resilience that partially offset declines.
- Strategic moves include a definitive merger agreement to acquire NCS Multistage and a planned corporate redomestication to the U.S., expected in H2–Q4 2026.
Original SEC Filing:
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