Weatherford: Q3 earnings snapshot. October 20, 2026 | 4:40 PM HOUSTON (AP) - HOUSTON (AP) - Weatherford International Inc. (WFRD) on Tuesday reported third-quarter earnings of $120 million. The Houston-based company said it had profit of $1.66 per share. The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share. The oilfield service company posted revenue of $1.14 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $1.13 billion. This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WFRD at https://www.zacks.com/ap/WFRD Meet Twix, a playful Chihuahua mix who loves toys and cuddles Watch More

Weatherford third-quarter net income rises to $120 million while revenue falls 7%. Adjusted EBITDA reached $254 million, and the company raised full-year adjusted free cash flow guidance. The release gave no new figure. Oct 20, 2026 Key takeaways. * Weatherford International plc (WFRD) reported third-quarter 2026 net income of $120 million on Oct. 20, 2026, up 48% from a year earlier. Revenue was $1,143 million, down 7% from $1,232 million a year earlier. Adjusted free cash flow was $155 million. The company said it raised its full-year adjusted free cash flow guidance. Weatherford International plc (WFRD) said in a filing Tuesday that third-quarter net income attributable to the company rose 48% from a year earlier to $120 million, while revenue fell 7% to $1,143 million. The energy services company released the results for the quarter ended Sept. 30, 2026, in a news release furnished as an exhibit to the filing. Operating income was $153 million, down 14% from $178 million a year earlier and up 43% from the second quarter. Here's how the company did: * Revenue: $1,143 million vs. $1,232 million a year earlier * Operating income: $153 million vs. $178 million a year earlier * Net income attributable to Weatherford: $120 million vs. $81 million a year earlier * Diluted income per share: $1.66 vs. $1.12 a year earlier * Adjusted EBITDA: $254 million vs. $269 million a year earlier * Adjusted free cash flow: $155 million vs. $99 million a year earlier Adjusted EBITDA, or earnings before interest, taxes, depreciation, amortization and certain other charges, was down 6% from a year earlier but rose 14% from $223 million in the second quarter. The margin reached 22.2%, up 39 basis points from 21.8% a year earlier. Operating cash flow was $192 million, up 39% from $138 million a year earlier. Capital expenditures were $45 million. "The One Weatherford team delivered an excellent third quarter," CEO Girish Saligram said. "Even as conflict related operational disruptions in the Middle East weighed on activity levels, the strength of our diversified portfolio, disciplined cost management, and outstanding execution across the organization drove margin expansion and strong cash generation," Saligram said. Segment results. Drilling and Evaluation revenue was $331 million, up 14% from $291 million in the second quarter and down 4% from $346 million a year earlier. Segment adjusted EBITDA was $90 million, up 55% sequentially and up 8% from $83 million a year earlier. Well Construction and Completions revenue was $450 million, up 4% from the second quarter and down 4% from $468 million a year earlier. Segment adjusted EBITDA fell to $100 million, down 7% sequentially and down 20% from $125 million a year earlier. Production and Intervention revenue was $314 million, down 1% sequentially and down 4% from $326 million a year earlier. Segment adjusted EBITDA rose 24% from $59 million a year earlier to $73 million. The company completed its acquisition of NCS Multistage Holdings, Inc. in a stock-and-cash transaction during the quarter. The filing does not give the purchase price. The cash flow statement shows $13 million for business acquisitions, net of cash acquired. North America revenue was $236 million, up 15% from the second quarter and down 3% from $243 million a year earlier. International revenue was $907 million, down 8% from $989 million a year earlier. Revenue in the Middle East, North Africa and Asia fell 16% from a year earlier to $447 million. The release tied the decline to subdued activity on account of heightened geopolitical tensions. Cash, debt and shareholder returns. Shareholder returns totaled $47 million in the quarter, including $19 million in dividends and $28 million in share repurchases. For the first nine months, the company paid $59 million in dividends and repurchased about $54 million of shares. Adjusted free cash flow was $155 million, up 57% from a year earlier. For the first nine months it was $379 million, compared with $244 million a year earlier. The company issued a notice Tuesday to redeem all $236 million of its 8.625% Senior Notes due 2030 at 100% of principal, plus accrued interest, on Oct. 30, 2026. It said the redemption will be funded with cash on hand and is expected to cut annualized cash interest expense by about $20 million. Fitch Ratings and S&P Global Ratings revised their outlook on the company to positive from stable and affirmed its BB rating during the quarter. Moody's affirmed its Ba2 rating with a positive outlook. The board declared a cash dividend of $0.275 per share on Oct. 15, payable Dec. 3 to shareholders of record as of Nov. 6. Outlook and other events. In the release, CEO Girish Saligram said, "we still see a meaningful ramp in adjusted EBITDA in the fourth quarter and are increasing our full year adjusted free cash flow guidance yet again." The release did not give a revised full-year adjusted free cash flow figure. Shareholders approved all proposals needed for the company's redomestication from Ireland to Delaware. The move remains subject to previously disclosed closing conditions, including sanction by the Irish High Court. If those conditions are met, the company expects the change to take effect in the fourth quarter of 2026. It expects $20 million to $30 million in annual cash savings beginning in 2027. Weatherford also said Equinor awarded it a two-year extension and a new offshore completions award for the Statfjord and Oseberg licenses on the Norwegian Continental Shelf. The company will host a conference call on Wednesday, Oct. 21, at 8:30 a.m. Eastern Time.

Venezuela oilfield hiring picks up as first wave of investment builds. Oilfield service companies including Weatherford International, Baker Hughes, Halliburton and SLB are advertising dozens of jobs in Venezuela, according to company websites, an early sign that a Washington-backed plan to rebuild the country's energy industry is gaining traction. The hiring could help reverse a sanctions-era exodus of companies and professionals from the country and comes as the administration of US President Donald Trump pushes a $100 billion oil revival plan following the capture of then-President Nicolas Maduro in January. With some major producers signaling they need political stability and clear legal rules before committing big money, international oil service firms are taking initial steps to put workers, rigs and equipment on the ground. Weatherford, which had scaled back its presence in Venezuela in 2019, has at least 20 open positions, mostly for the oil and gas hubs of Anaco and Maturin, which it started advertising last month. The firm is seeking operation supervisors, drilling specialists and engineers, the company's career website page showed. The US company is set to host a ceremony with Eni this month, a source said, following an agreement with state-run PDVSA in September for the Italian producer to expand at Venezuela's Orinoco Belt. Eni has engaged Weatherford to help increase production, the source said. Weatherford and Eni did not reply to requests for comment. Venezuela has the world's largest oil reserves, but it pumps only about 1.2 million barrels per day (bpd), a fraction of what those reserves could support. Baker Hughes, which also is expanding in the country, has a dozen openings on its website, posting roles in Maracaibo - Venezuela's second-largest oil region. The company signed an agreement this month with PDVSA, engineering firm Lindsayca and developer Fulcrum LNG to reactivate gas infrastructure. SLB, meanwhile, has 35 vacancies on its website for positions in Anaco, Maturin and Caracas, with postings dating back around six months. Halliburton said in early October it was seeking to expand the company's talent network in Venezuela. A Baker Hughes spokesperson said the company does not comment on personnel. SLB declined to comment. Halliburton did not immediately respond to a request for comment. Most foreign oil service firms had shut down or reduced operations in Venezuela following US sanctions in 2019, laying off or transferring staff and removing equipment from the country. RIGS ON THE WAY Equipment is starting to return, though from a low base. Only two drilling rigs were active in Venezuela this month, according to Baker Hughes data. US-backed North American Blue Energy Partners said it received two drilling units last week, and Chevron is expected to soon activate four. One of the largest US land drilling contractors, Patterson-UTI, said it is currently shipping components for 10 older rigs of a type CEO Andy Hendricks said the company has not used in the US in about 15 years. "It'll be fine for Venezuela," he said in an interview last week. Through the end of next year, deployments are expected to focus mostly on workover rigs to reopen and repair wells at mature fields, according to Welligence Energy Analytics. Combined with major oil firms' expansion plans, that approach would help lift crude output to some 1.5 million bpd by late 2027 from the 1.2 million bpd now, the consultancy said. "We are being cautiously optimistic," said Andres Armijos, Welligence's head for Latin America, referring to the investment plan and recent job postings. "In reality, this will take time." (Reporting by Georgina McCartney and Marianna Parraga in Houston; Editing by Nathan Crooks and Sanjeev Miglani)