Q2 2026 Weatherford International PLC Earnings Call Transcript
Key Points
- Weatherford International PLC (WFRD) delivered strong financial performance in Q2 2026 with revenue of $1.105 billion and adjusted EBITDA of $223 million at a 20.2% margin.
- The company achieved an impressive adjusted free cash flow of $139 million, representing a 62.3% conversion on adjusted EBITDA.
- Weatherford International PLC (WFRD) successfully managed working capital, with strong payments from its largest customer in Mexico contributing to cash flow performance.
- The company secured multiple new contract wins across key regions, including deepwater awards in Brazil, West Africa, and Australia.
- Weatherford International PLC (WFRD) is optimistic about future growth opportunities in Venezuela, with a growing pipeline of opportunities expected to contribute to revenue and margins in 2027.
- The ongoing geopolitical conflict in the Middle East has negatively impacted Weatherford International PLC (WFRD)'s operations, leading to activity suspensions and project deferrals.
- Revenue in Saudi Arabia declined due to the conclusion of the LSTK contract, and this trend is expected to continue in the second half of the year.
- The company faced activity declines in Indonesia and pricing headwinds, resulting in volume declines.
- A union strike in Norway further pressured Weatherford International PLC (WFRD)'s operations, impacting activity in the region.
- Weatherford International PLC (WFRD) experienced a sequential revenue decline in Latin America, driven predominantly by lower-than-expected activity in Mexico.
Ladies and gentlemen, thank you for standing by. Welcome to the Weatherford second-quarter 2026 results. (Operator Instructions) As a reminder, today's event is being recorded.
I would now like to turn the conference over to Luke Lemoine, Senior Vice President of Corporate Development. Sir, you may begin.
Welcome, everyone, to the Weatherford International second-quarter 2026 earnings conference call. I'm joined today by Girish Saligram, President and CEO; and Anuj Dhruv, Executive Vice President and CFO. We'll 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 materially from any
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