Q4 2024 Weatherford International PLC Earnings Call Transcript
Key Points
- Weatherford International PLC (WFRD) achieved adjusted EBITDA margins exceeding 25% for the full year, marking the highest full-year margin in over 15 years.
- The company generated $524 million in adjusted free cash flow for 2024, demonstrating strong cash generation capabilities.
- International business grew by 10% on a full-year basis, with significant growth in the Middle East, North Africa, and Asia regions.
- Weatherford International PLC (WFRD) paid two quarterly dividends of $0.25 per share and repurchased approximately $99 million of shares during the second half of 2024.
- The Well Services product line has grown over 50% in three years, representing a significant growth vector with low capital intensity.
- The fourth quarter did not meet expectations due to a significant reduction in activity in Latin America, particularly in Mexico.
- North America revenue was down 2% sequentially, primarily due to a continued reduction in US land activity.
- International revenues are expected to decline mid-single digits in 2025, primarily due to challenges in Mexico and Russia.
- The company anticipates a significant decline in activity levels in Mexico, which will impact 2025 revenues.
- Weatherford International PLC (WFRD) faces challenges in Russia due to sanctions and FX volatility, contributing to a decline in revenues.
Good morning and welcome to the Weatherford International fourth-quarter 2024 and full-year 2024 earnings call.
(Operator Instructions) Please note, this event is being recorded.
I would now like to turn the conference over to Luke Lemoine, SVP of Corporate Development. Please go ahead.
Welcome, everyone, to the Weatherford International fourth-quarter 2024 and full-year 2024 earnings conference call.
I'm joined today by Girish Saligram, President & CEO and Arun Mitra, Executive Vice President and CFO. We will start today with our prepared remarks and then open up for questions. You may download a copy of the presentation slides corresponding to today's call from our website's Investor Relations section.
I want to remind everyone that some of today's comments include forward-looking statements. These statements are subject to many risks and uncertainties that could cause our actual results to differ
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