The sequential margin recovery and FCF beat are positive, but the YoY revenue decline and Middle East headwinds cap upside. Watch the Q4 conference call for updates on Middle East normalization and the redomestication timeline — both are key catalysts for 2027 earnings power.
Price Chart
Executive Summary
Weatherford Q3 2026 revenue of $1,143M (-7% YoY) missed consensus of $1.30B, and EPS of $1.66 narrowly missed the $1.68 estimate. However, adjusted EBITDA margin expanded 204 bps sequentially to 22.2%, adjusted free cash flow surged to $155M (+57% YoY), and the company increased full-year adjusted free cash flow guidance. The sequential margin recovery and strong cash generation partially offset the top-line miss, but the YoY revenue decline and ongoing Middle East disruption weigh on the outlook.
Key Financial Metrics
Key Facts
- Q3 2026 revenue of $1,143M decreased 7% YoY and missed consensus of $1.30B
- GAAP diluted EPS of $1.66 missed consensus of $1.68 (-1.1% miss)
- Adjusted EBITDA of $254M with 22.2% margin, up 204 bps sequentially and 39 bps YoY
- Adjusted free cash flow of $155M, up 57% YoY; full-year guidance raised
- Completed NCS Multistage acquisition and secured shareholder approval for redomestication to Delaware
- Issued notice to redeem $236M of 8.625% Senior Notes due 2030, reducing annual interest expense by ~$20M
- Fitch and S&P revised outlook to Positive; Moody's affirmed Ba2 with Positive Outlook
- Middle East geopolitical disruptions continue to weigh on activity, especially in MENA region (-16% YoY revenue)
Financial Impact
Revenue miss of ~$157M vs consensus; EPS miss of $0.02; adjusted EBITDA margin expansion of 204 bps sequentially; FCF guidance raised
Risk Factors
- Prolonged Middle East geopolitical disruption weighing on international revenue (-8% YoY)
- Integration risk from NCS Multistage acquisition
- Redomestication to Delaware subject to Irish High Court approval
- Oil price volatility impacting customer spending
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001603923-26-000118 |
| Document: wfrd-20261020.htm | 0001603923-26-000118 |
| Document: 0001603923-26-000118-index-headers.html | 0001603923-26-000118 |
| Document: 0001603923-26-000118-index.html | 0001603923-26-000118 |
| Document: 0001603923-26-000118.txt | 0001603923-26-000118 |
| 8-K Data (Synthetic) | 0001603923-26-000118 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | 8-K | $86.55 | awaiting T+1 | — | $88.34 (+2.07%) |
Oct 20, 2026 6d ago | 8-K | $85.49 $81.18 | ▼ −5.04% | ▼ −3.86% | $88.34 (+3.33%) |
Oct 20, 2026 6d ago | Press Release | $85.49 $81.18 | ▼ −5.04% | ▼ −3.86% | $88.34 (+3.33%) |
Oct 20, 2026 6d ago | 8-K | $85.49 $81.18 | ▼ −5.04% | ▼ −3.86% | $88.34 (+3.33%) |
Sep 25, 2026 4w ago | Press Release | $82.80 $80.41 | ▼ −2.89% | ▼ −2.70% | $88.34 (+6.69%) |
Sep 1, 2026 8w ago | 8-K | $94.52 $97.71 | ▲ +3.37% | ▲ +2.93% | $88.34 (−6.54%) |
Jul 27, 2026 13w ago | Insider Cluster | $83.58 $82.31 | ▼ −1.52% | ▲ +0.02% | $88.34 (+5.70%) |
Jul 23, 2026 13w ago | 144 | $85.60 $88.68 | ▲ +3.60% | ▲ +3.50% | $88.34 (+3.20%) |
Jul 22, 2026 13w ago | EFFECT | $87.11 $85.60 | ▼ −1.73% | ▼ −0.50% | $88.34 (+1.41%) |
Jul 21, 2026 13w ago | Press Release | $87.11 $85.60 | ▲ +1.73% | ▲ +0.50% | $88.34 (−1.41%) |
US Market Status
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