Weatherford

Q2 FY2026 EarningsQ2 FY26 revenue of $1,105M beat consensus of $1,069M, yet Diluted EPS (GAAP) of $0.55 significantly missed the $0.93 expectation (-40.9% variance). Operating results were severely impacted by the Iran Conflict, leading to an 8% YoY revenue decline and a 55% drop in operating income. While WCC and DRE segments faced activity disruptions in the Middle East, PRI segment adjusted EBITDA grew 11% YoY due to higher-margin intervention services. Management's near-term outlook remains cautious, citing the pace of recovery in the Middle East as the primary variable for the remainder of 2026.