<p>Weatherford International Plc 最近的財報電話會議傳達了平衡的情緒，突出了成就和挑戰。儘管公司在某些地區和領域展示了顯著的改善，但也面臨着重大障礙，特別是在價格壓力和付款收集方面。</p>
<h2>拉丁美洲收入改善</h2>
<p>在經歷了三個季度的收入下降後，Weatherford International 報告稱拉丁美洲的收入環比改善了 10%，主要得益於墨西哥的積極發展。這標誌着該地區的顯著轉變，對公司的整體業績產生了積極貢獻。</p>
<h2>EBITDA 利潤率擴張</h2>
<p>儘管面臨市場挑戰，Weatherford 成功地將其 EBITDA 利潤率擴大了超過 70 個基點。這一成就主要歸功於有效的成本舉措，展示了公司在困難環境中提升盈利能力的能力。</p>
<h2>重要合同獲勝</h2>
<p>Weatherford 獲得了多個高影響力的合同，包括與巴西的 Petrobras 簽署的 1.47 億美元合同和與羅馬尼亞的 Romgaz 簽署的 8 年合同。這些勝利凸顯了公司的競爭優勢和在關鍵市場持續增長的潛力。</p>
<h2>創新產品發佈</h2>
<p>公司推出了超過 20 款新產品和擴展，突出了技術和創新的進步。值得注意的發佈包括智能完井和數字產品，強化了 Weatherford 在技術進步方面的領先地位。</p>
<h2>強勁的自由現金流</h2>
<p>Weatherford 產生了 9900 萬美元的調整後自由現金流，實現了 36.8% 的轉化率。儘管在墨西哥的付款收集方面面臨挑戰，但這一強勁的現金流表現展示了穩健的財務管理。</p>
<h2>增加股東回報</h2>
<p>公司通過股票回購和分紅向股東返還了大約 60% 的自由現金流，反映了對為投資者創造價值的承諾。</p>
<h2>墨西哥付款收集的挑戰</h2>
<p>一個關鍵挑戰是來自墨西哥的一家主要客户的付款缺失，這影響了淨營運資本的效率，使其從 26.7% 增加到 29.6%。這一問題凸顯了改善付款收集策略的必要性。</p>
<h2>價格壓力</h2>
<p>Weatherford 在多個市場，特別是在中東和北美，面臨着日益上升的價格壓力。對無差異產品線的劇烈下降表示擔憂，這對維持盈利能力構成挑戰。</p>
<h2>美國陸地收入下降</h2>
<p>北美的美國陸地收入出現下降，部分抵消了其他領域的改善。這一下降突顯了美國市場持續面臨的挑戰，需要戰略調整。</p>
<h2>市場逆風和疲軟</h2>
<p>整體市場仍然疲軟，不確定的客户支出趨勢影響了 2026 年上半年的同比比較。這種疲軟對持續增長構成挑戰，需要謹慎應對。</p>
<h2>持續的關税影響</h2>
<p>關税影響導致特定美國產品線的利潤率稀釋和成本增加，對維持受影響領域的強勁利潤率構成挑戰。</p>
<h2>前瞻性指導</h2>
<p>展望未來，Weatherford 提供了 Q4 的詳細指導，預計收入範圍為 12.45 億美元至 12.8 億美元，調整後的 EBITDA 預計在 2.74 億美元至 2.87 億美元之間。公司預計中東、北非、亞洲和拉丁美洲將實現增長，巴西、北美海上、科威特、阿曼和伊拉克是關鍵增長領域。儘管面臨市場逆風，Weatherford 仍計劃將資本支出控制在收入的 3% 到 5% 之間，並改善營運資本效率至 25%。</p>
<p>總之，Weatherford International 的財報電話會議傳達了混合的情緒，平衡了顯著的成就與重大挑戰。公司通過拉丁美洲的收入改善、EBITDA 利潤率擴張和創新產品發佈展示了韌性。然而，它在價格壓力、付款收集和市場疲軟方面面臨持續挑戰。展望未來，Weatherford 仍專注於在關鍵地區的戰略增長和保持強勁的財務管理。</p>

WFRD

<p>Weatherford International 最近的財報電話會議透露了一個平衡的前景，展示了拉丁美洲的改善，收入增長了 10%，EBITDA 利潤率擴大，並獲得了重要合同。然而，挑戰依然存在，包括價格壓力、墨西哥的收款問題，以及美國陸地收入的下降。公司產生了 9900 萬美元的調整後自由現金流，並向股東返還了 60%。展望未來，Weatherford 預計第四季度收入將在 12.45 億美元到 12.8 億美元之間，儘管面臨市場逆風，仍將重點關注關鍵地區的增長</p>

<p>The recent earnings call for Weatherford International Plc presented a balanced sentiment, highlighting both achievements and challenges. While the company showcased notable improvements in certain regions and segments, it also faced significant hurdles, particularly concerning pricing pressures and payment collections.</p>
<div class="lb-trans"><p>Weatherford International Plc 最近的財報電話會議傳達了平衡的情緒，突出了成就和挑戰。儘管公司在某些地區和領域展示了顯著的改善，但也面臨着重大障礙，特別是在價格壓力和付款收集方面。</p>
</div><h2>Improved Revenue in Latin America</h2>
<div class="lb-trans"><h2>拉丁美洲收入改善</h2>
</div><p>After experiencing three quarters of declining revenue, Weatherford International reported a 10% sequential revenue improvement in Latin America, primarily driven by positive developments in Mexico. This marks a significant turnaround for the region, contributing positively to the company’s overall performance.</p>
<div class="lb-trans"><p>在經歷了三個季度的收入下降後，Weatherford International 報告稱拉丁美洲的收入環比改善了 10%，主要得益於墨西哥的積極發展。這標誌着該地區的顯著轉變，對公司的整體業績產生了積極貢獻。</p>
</div><h2>EBITDA Margin Expansion</h2>
<div class="lb-trans"><h2>EBITDA 利潤率擴張</h2>
</div><p>Despite facing market challenges, Weatherford successfully expanded its EBITDA margin by over 70 basis points. This achievement was largely attributed to effective cost initiatives, showcasing the company’s ability to enhance profitability even in a challenging environment.</p>
<div class="lb-trans"><p>儘管面臨市場挑戰，Weatherford 成功地將其 EBITDA 利潤率擴大了超過 70 個基點。這一成就主要歸功於有效的成本舉措，展示了公司在困難環境中提升盈利能力的能力。</p>
</div><h2>Significant Contract Wins</h2>
<div class="lb-trans"><h2>重要合同獲勝</h2>
</div><p>Weatherford secured several high-impact contracts, including a $147 million deal with Petrobras in Brazil and an 8-year contract with Romgaz in Romania. These wins underscore the company’s competitive edge and potential for sustained growth in key markets.</p>
<div class="lb-trans"><p>Weatherford 獲得了多個高影響力的合同，包括與巴西的 Petrobras 簽署的 1.47 億美元合同和與羅馬尼亞的 Romgaz 簽署的 8 年合同。這些勝利凸顯了公司的競爭優勢和在關鍵市場持續增長的潛力。</p>
</div><h2>Innovative Product Launches</h2>
<div class="lb-trans"><h2>創新產品發佈</h2>
</div><p>The company launched over 20 new products and extensions, highlighting advancements in technology and innovation. Notable launches included Intelligent Completions and digital products, reinforcing Weatherford’s commitment to leading in technological advancements.</p>
<div class="lb-trans"><p>公司推出了超過 20 款新產品和擴展，突出了技術和創新的進步。值得注意的發佈包括智能完井和數字產品，強化了 Weatherford 在技術進步方面的領先地位。</p>
</div><h2>Strong Free Cash Flow</h2>
<div class="lb-trans"><h2>強勁的自由現金流</h2>
</div><p>Weatherford generated $99 million in adjusted free cash flow, achieving a conversion rate of 36.8%. This strong cash flow performance was realized despite challenges in payment collections from Mexico, demonstrating robust financial management.</p>
<div class="lb-trans"><p>Weatherford 產生了 9900 萬美元的調整後自由現金流，實現了 36.8% 的轉化率。儘管在墨西哥的付款收集方面面臨挑戰，但這一強勁的現金流表現展示了穩健的財務管理。</p>
</div><h2>Increased Shareholder Returns</h2>
<div class="lb-trans"><h2>增加股東回報</h2>
</div><p>The company returned approximately 60% of its free cash flow to shareholders through share repurchases and dividends, reflecting a commitment to delivering value to its investors.</p>
<div class="lb-trans"><p>公司通過股票回購和分紅向股東返還了大約 60% 的自由現金流，反映了對為投資者創造價值的承諾。</p>
</div><h2>Challenges in Payment Collections from Mexico</h2>
<div class="lb-trans"><h2>墨西哥付款收集的挑戰</h2>
</div><p>A key challenge highlighted was the lack of payments from a major customer in Mexico, which affected net working capital efficiency, increasing it from 26.7% to 29.6%. This issue underscores the need for improved payment collection strategies.</p>
<div class="lb-trans"><p>一個關鍵挑戰是來自墨西哥的一家主要客户的付款缺失，這影響了淨營運資本的效率，使其從 26.7% 增加到 29.6%。這一問題凸顯了改善付款收集策略的必要性。</p>
</div><h2>Pricing Pressures</h2>
<div class="lb-trans"><h2>價格壓力</h2>
</div><p>Weatherford is experiencing rising pricing pressures in several markets, particularly in the Middle East and North America. Concerns were raised over dramatic drops in undifferentiated product lines, posing a challenge to maintaining profitability.</p>
<div class="lb-trans"><p>Weatherford 在多個市場，特別是在中東和北美，面臨着日益上升的價格壓力。對無差異產品線的劇烈下降表示擔憂，這對維持盈利能力構成挑戰。</p>
</div><h2>Revenue Decline in U.S. Land</h2>
<div class="lb-trans"><h2>美國陸地收入下降</h2>
</div><p>North America saw a decline in U.S. land revenue, which partially offset improvements in other areas. This decline highlights the ongoing challenges in the U.S. market, necessitating strategic adjustments.</p>
<div class="lb-trans"><p>北美的美國陸地收入出現下降，部分抵消了其他領域的改善。這一下降突顯了美國市場持續面臨的挑戰，需要戰略調整。</p>
</div><h2>Market Headwinds and Softness</h2>
<div class="lb-trans"><h2>市場逆風和疲軟</h2>
</div><p>The overall market remains soft, with uncertain customer spending trends affecting year-on-year comparisons for the first half of 2026. This softness presents a challenge for sustained growth and requires careful navigation.</p>
<div class="lb-trans"><p>整體市場仍然疲軟，不確定的客户支出趨勢影響了 2026 年上半年的同比比較。這種疲軟對持續增長構成挑戰，需要謹慎應對。</p>
</div><h2>Ongoing Tariff Impacts</h2>
<div class="lb-trans"><h2>持續的關税影響</h2>
</div><p>Tariff impacts have led to margin dilution and increased costs in specific U.S. product lines, posing a challenge to maintaining strong margins in affected areas.</p>
<div class="lb-trans"><p>關税影響導致特定美國產品線的利潤率稀釋和成本增加，對維持受影響領域的強勁利潤率構成挑戰。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指導</h2>
</div><p>Looking ahead, Weatherford provided detailed guidance for Q4, with expected revenue ranging from $1.245 billion to $1.28 billion and adjusted EBITDA projected between $274 million and $287 million. The company anticipates growth in the Middle East, North Africa, Asia, and Latin America, with Brazil, North America offshore, Kuwait, Oman, and Iraq as key growth areas. Despite market headwinds, Weatherford aims to maintain capital expenditures within 3% to 5% of revenues and improve working capital efficiency towards 25%.</p>
<div class="lb-trans"><p>展望未來，Weatherford 提供了 Q4 的詳細指導，預計收入範圍為 12.45 億美元至 12.8 億美元，調整後的 EBITDA 預計在 2.74 億美元至 2.87 億美元之間。公司預計中東、北非、亞洲和拉丁美洲將實現增長，巴西、北美海上、科威特、阿曼和伊拉克是關鍵增長領域。儘管面臨市場逆風，Weatherford 仍計劃將資本支出控制在收入的 3% 到 5% 之間，並改善營運資本效率至 25%。</p>
</div><p>In summary, Weatherford International’s earnings call presented a mixed sentiment, balancing notable achievements with significant challenges. The company demonstrated resilience through revenue improvements in Latin America, EBITDA margin expansion, and innovative product launches. However, it faces ongoing challenges with pricing pressures, payment collections, and market softness. Looking forward, Weatherford remains focused on strategic growth in key regions and maintaining strong financial management.</p>
<div class="lb-trans"><p>總之，Weatherford International 的財報電話會議傳達了混合的情緒，平衡了顯著的成就與重大挑戰。公司通過拉丁美洲的收入改善、EBITDA 利潤率擴張和創新產品發佈展示了韌性。然而，它在價格壓力、付款收集和市場疲軟方面面臨持續挑戰。展望未來，Weatherford 仍專注於在關鍵地區的戰略增長和保持強勁的財務管理。</p>
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Weatherford International 的財報電話會議：展望平衡