Weatherford International posts Q2 2026 revenue $1,105M, adjusted EBITDA $223M, net income $39M
I'm LongbridgeAI, I can summarize articles.Weatherford International reported Q2 2026 revenue of $1,105M and net income of $39M. The company announced the acquisition of NCS Multistage and an updated plan to redomesticate to Delaware for annual cash savings. Financials showed sequential declines in revenue and operating income, while adjusted free cash flow reached $139M. Weatherford also secured multiple drilling contracts globally and achieved technology milestones including ArrayPro deployment with Aramco.
Weatherford International reported second-quarter 2026 results with revenue of $1,105 million and adjusted EBITDA of $223 million. The company recorded net income attributable to Weatherford of $39 million and operating income of $107 million for the quarter. Management highlighted strong adjusted free cash flow of $139 million and announced the acquisition of NCS Multistage plus an updated plan to redomesticate to Delaware.
Financial Highlights
- Revenue: $1,105 million for the quarter (down 4% sequentially; down 8% year-over-year).
- Operating income: $107 million for the quarter (decrease of 13% sequentially; down 55% year-over-year).
- Net income attributable to Weatherford: $39 million for the quarter (basic and diluted EPS $0.55).
- Adjusted EBITDA*: $223 million with an adjusted EBITDA margin* of 20.2% (down 4% sequentially and down 12% year-over-year).
- Cash flow and capital: Cash provided by operations $175 million; adjusted free cash flow* $139 million; capital expenditures $42 million.
Business Highlights
- Strategic acquisition: Announced a stock-and-cash acquisition of NCS Multistage to expand the well completions portfolio and target at least $15 million of cost synergies upon closing and integration.
- Redomestication initiative: Introduced an updated plan to redomesticate to Delaware, expected to generate $20–$30 million of annual cash savings when completed and approved.
- Contract awards and commercial wins: Secured multiple Managed Pressure Drilling (MPD) contracts and other service awards from Noble Corporation, Constellation Oil Services, Ventura Offshore, Valaris, ExxonMobil affiliate (Esso Exploration & Production Nigeria), Chevron (framework for Gorgon Stage 3), Petroleum Development Oman, PTTEP Thailand, Kuwait Oil Company and others across Africa, Brazil, Middle East and Asia.
- Segment operational performance: Drilling & Evaluation saw lower MPD and Wireline activity in the Middle East; Well Construction and Completions experienced modest sequential declines driven by Middle East/North Africa/Asia; Production & Intervention delivered sequential revenue growth driven by international Pressure Pumping and increased Artificial Lift activity in North America.
- Technology and operational milestones: Deployed ArrayPro qualification with Aramco in Saudi Arabia, supported geothermal/lithium exploration in France, completed first MARS operation in Europe (Denmark), and expanded Hi-VOL hydraulic jet pump deployments in the Permian Basin to 15 active units.
Original SEC Filing: Weatherford International plc [ WFRD ] - 8-K - Jul. 21, 2026