$WFRD

Weatherford International plc

CIK:0001603923|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue:
Total Revenue	$ 1,105	$ 1,204	$ 2,257	$ 2,397
Costs and Expenses:
Research and Development	20	30	41	59
Selling, General and Administrative	172	164	340	325
Gain on Sale of Business	0	(70)	0	(70)
Restructuring Charges	9	11	22	40
Other Expense, Net	25	3	40	16
Total Costs and Expenses	998	967	2,027	2,018
Operating Income	107	237	230	379
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 (in dollars per share)	$ 0.55	$ 1.87	$ 2.05	$ 2.91
Basic Weighted Average Shares Outstanding (in shares)	71.9	72.2	71.9	72.7
Diluted Income per Share (in dollars per share)	$ 0.55	$ 1.87	$ 2.04	$ 2.90
Diluted Weighted Average Shares Outstanding (in shares)	72.2	72.4	72.2	72.9
Services
Revenue:
Total Revenue	$ 676	$ 732	$ 1,387	$ 1,473
Costs and Expenses:
Cost of Services and Products	443	464	919	928
Products
Revenue:
Total Revenue	429	472	870	924
Costs and Expenses:
Cost of Services and Products	$ 329	$ 365	$ 665	$ 720

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 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	0	(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	0	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

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 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	0	0
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