Weatherford Q1 lowers 2026 Q2 outlook on Middle East uncertainties

Weatherford International

21/04/2026 21:56

Corrects to remove extraneous "Q1" reference from headline

Overview

Global energy services firm's Q1 revenue fell 3% yr/yr, meeting analyst expectations

Adjusted EBITDA for Q1 decreased 8% yr/yr but beat analyst expectations

Company cited Middle East disruptions as impacting revenue and costs

Outlook

Company expects Q2 results to be softer than previously anticipated due to Middle East disruptions

Weatherford is maintaining second half and full-year adjusted free cash flow guidance

Company says near-term visibility is clouded by geopolitical volatility in the Middle East

Result Drivers

MIDDLE EAST DISRUPTIONS - Co said revenue and cost increases were primarily due to operational disruptions and heightened geopolitical tensions in the Middle East

REGIONAL ACTIVITY DECLINES - Lower activity in Latin America, North America, and Middle East/North Africa/Asia weighed on DRE and PRI segment revenues

BUSINESS PORTFOLIO CHANGES - Sale of Pressure Pumping business in Argentina contributed to PRI revenue decline

Company press release: ID:nGNXzXln5

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Meet
$1.15 bln
$1.15 bln (11 Analysts)
Q1 Net Income
$108 mln
Q1 Adjusted EBITDA
Beat
$233 mln
$230.36 mln (10 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the oil related services and equipment peer group is "buy"

Wall Street's median 12-month price target for Weatherford International PLC is $113.00, about 12.9% above its April 20 closing price of $100.13

The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 15 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)