Weatherford International plc Ordinary Shares Q1 2026 Earnings Recap

Weatherford delivered a solid Q1 2026 with $1.15 billion in revenue, supported by strong cash flow and strategic portfolio adjustments, despite regional challenges and the Iran conflict.

Key Takeaways

• Revenue declined 3% YoY mainly due to the Argentina pressure pumping divestiture; sequential decline of 11% reflects typical seasonality and conflict impact.
• Adjusted EBITDA margin stood at 20.2%, with margin expansion expected in H2 2026 absent prolonged Iran conflict disruptions.
• Strong collections and disciplined working capital management resulted in $85 million in free cash flow, improving full-year cash flow outlook.
• The Iran conflict caused regional activity delays and logistical cost increases, with an anticipated $30–$50 million profit impact in H1; recovery expected in H2 2026.
• Ongoing portfolio optimization through smaller divestitures aims to boost margins, reduce capital intensity, and align strategic focus.