Watch for Q4 2026 guidance on the earnings call (Oct 21) — management cited a 'meaningful ramp in adjusted EBITDA' in Q4 and raised full-year adjusted free cash flow guidance. The redomestication closing and further debt reduction progress are key catalysts for credit profile improvement and potential multiple expansion.
Price Chart
Executive Summary
Weatherford reported Q3 2026 EPS of $1.66, a 31.1% beat vs consensus of $1.27, on revenue of $1,143M (in line with $1.13B consensus). Revenue declined 7% YoY but adjusted EBITDA margin expanded 204 bps sequentially to 22.2%, and adjusted free cash flow rose 57% YoY to $155M. The company also announced a $236M senior note redemption, a redomestication to Delaware expected to save $20-30M annually, and raised full-year adjusted free cash flow guidance, offsetting Middle East geopolitical headwinds.
Key Financial Metrics
Key Facts
- EPS of $1.66 beat consensus of $1.27 by 31.1%
- Revenue of $1,143M was in line with $1.13B consensus, down 7% YoY but up 3% sequentially
- Adjusted EBITDA margin expanded 204 bps sequentially to 22.2%
- Adjusted free cash flow of $155M, up 57% YoY
- Issued notice to redeem $236M of 8.625% Senior Notes due 2030, reducing annual interest expense by ~$20M
- Shareholders approved redomestication to Delaware, expected to generate $20-30M annual cash savings from 2027
- Fitch and S&P revised outlook to Positive; Moody's affirmed Ba2 with Positive Outlook
- Shareholder return of $47M in Q3 ($19M dividends + $28M buybacks)
- Completed acquisition of NCS Multistage to strengthen completions portfolio
- Equinor awarded two-year extension and new offshore completions award
Financial Impact
EPS beat of 31.1% vs consensus; adjusted EBITDA margin expansion of 204 bps sequentially; $236M debt redemption reducing annual interest by ~$20M; redomestication savings of $20-30M/year from 2027
Risk Factors
- Revenue declined 7% YoY, with Middle East/North Africa/Asia revenue down 16% YoY due to geopolitical tensions
- WCC segment adjusted EBITDA declined 20% YoY on lower North America fall-through
- Middle East conflict could further dampen activity recovery expectations
- Redomestication remains subject to Irish High Court approval
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3385011 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | 8-K | $86.55 | awaiting T+1 | — | $88.60 (+2.37%) |
Oct 20, 2026 7d ago | 8-K | $85.49 $81.18 | ▼ −5.04% | ▼ −3.86% | $88.60 (+3.64%) |
Oct 20, 2026 7d ago | Press Release | $85.49 $81.18 | ▼ −5.04% | ▼ −3.86% | $88.60 (+3.64%) |
Oct 20, 2026 7d ago | 8-K | $85.49 $81.18 | ▼ −5.04% | ▼ −3.86% | $88.60 (+3.64%) |
Sep 25, 2026 4w ago | Press Release | $82.80 $80.41 | ▼ −2.89% | ▼ −2.70% | $88.60 (+7.00%) |
Sep 1, 2026 8w ago | 8-K | $94.52 $97.71 | ▲ +3.37% | ▲ +2.93% | $88.60 (−6.26%) |
Jul 27, 2026 13w ago | Insider Cluster | $83.58 $82.31 | ▼ −1.52% | ▲ +0.02% | $88.60 (+6.01%) |
Jul 23, 2026 13w ago | 144 | $85.60 $88.68 | ▲ +3.60% | ▲ +3.50% | $88.60 (+3.50%) |
Jul 22, 2026 13w ago | EFFECT | $87.11 $85.60 | ▼ −1.73% | ▼ −0.50% | $88.60 (+1.71%) |
Jul 21, 2026 14w ago | Press Release | $87.11 $85.60 | ▲ +1.73% | ▲ +0.50% | $88.60 (−1.71%) |
US Market Status
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