The specialty equipment maker posted strong third-quarter results.
The specialty equipment maker posted strong third-quarter results.
Weatherford International (WFRD +7.75%) delivered its latest set of quarterly earnings after market close on Tuesday, and investors reacted positively the following day. Thanks in no small part to a convincing bottom-line beat, market players eagerly bought shares of the oil and gas industry equipment maker, sending the stock to a nearly 8% gain that trading session.
Notching a twin beat
The third quarter saw Weatherford book $1.14 billion in total revenue, down from $1.23 billion in the same period of 2025. All three of the company's primary business units slumped over that one-year span, with top-line declines in the single-digit percentage range.
Due largely to a significant reduction in income tax provisions, the company's "basic" -- i.e., in accordance with generally accepted accounting principles (GAAP) -- attributable net income surged. It rose by 48% to $120 million, or $1.66 per share. Non-GAAP (adjusted) free cash flow also sharply increased, rising by 57% to $155 million.
Weatherford scored a double beat for the quarter, as analysts were collectively anticipating $1.14 billion on the top line and only $1.30 per share in basic attributable net income.
In the company's earnings release, it quoted CEO Girish Saligram as saying that "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."
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NASDAQ · As of 4:00 PM ET 10/21/26
Weathering a challenging time
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