Weatherford Q1 Beats Estimates, Eyes Middle East Growth

Weatherfords Q1 results surpassed expectations, with $1.15 billion in revenue and $1.49 adjusted EPS, despite a 3.4% YOY drop. EBITDA fell short at $221 million. Revenue dipped due to Argentina and Middle East challenges, but Mexicos strong cash collections offset. Management praised safety and operations, with Mexicos payments bolstering cash flow. Looking ahead, they anticipate Middle East recovery and new contracts in various regions to drive second-half growth, aiming for mid-forties percent free cash flow. The stock price has risen to $102.80 post-earnings. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/7a4dbc83f0c3ac4e