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Weatherford International (NASDAQ:WFRD) reported second-quarter 2026 revenue of $1.105 billion, adjusted EBITDA of $223 million and adjusted free cash flow of $139 million, as management said the oilfield services company held margins steady despite operational disruptions tied to conflict in the Middle East and softer activity in several markets.

President and CEO Girish Saligram said adjusted EBITDA margin was 20.2% in the quarter, while adjusted free cash flow conversion reached 62.3% of adjusted EBITDA. He said the company was “especially pleased” with margin and cash performance given a challenging backdrop that included Middle East activity not returning to pre-conflict levels, activity declines in Indonesia, pricing pressure in some areas and a union strike in Norway.

“Despite those incremental pressures, our team rallied to deliver EBITDA margins north of 20% and essentially flat to Q1,” Saligram said. He also cited working capital execution, including strong payments from Weatherford’s largest customer in Mexico, as a key driver of cash flow.

Middle East disruptions weigh on outlook Saligram said the Middle East was the most visibly affected region in the quarter, with activity suspensions, project deferrals and logistical disruptions that began in March continuing through much of the period. Freight and logistics costs remained elevated, peaking in May before beginning to moderate, he said.

The company previously estimated a first-half profit impact of $30 million to $50 million from the regional conflict. Saligram said the first-half impact was within that range, but that the full-year effect is expected to increase following recent flare-ups, and Weatherford has incorporated that into its guidance.

In response to a question from Citigroup analyst Scott Gruber, Saligram said the financial impact does not appear to be increasing at the moment and is moderating, though he cautioned that the situation remains uncertain. He said Saudi Arabia had started to return to normalcy before the latest flare-up, while Oman remained broadly stable. He identified Bahrain, Qatar, Iraq and Kuwait as areas that had seen more disruption and delay.

Weatherford also saw revenue decline in Saudi Arabia following the conclusion of its LSTK contract, an effect Saligram said will be more visible in the second half. He said the company remains interested in growth in Saudi Arabia but is comfortable not having an LSTK contract given market pricing levels.

Guidance revised, cash flow outlook raised Executive Vice President and CFO Anuj Dhruv said Weatherford generated $139 million of adjusted free cash flow in the second quarter, compared with adjusted free cash flow conversion of 31.1% in the second quarter of 2025 and 36.5% in the first quarter of 2026. He attributed the improvement primarily to working capital release, continued collections, including from the company’s key customer in Mexico, and lower capital expenditures.

Dhruv said adjusted net working capital as a percentage of revenue improved sequentially by about 90 basis points to 27%, marking the second consecutive quarter of improvement. Capital expenditures were $42 million, or 3.8% of revenue, down about $12 million from the prior-year quarter.

Weatherford returned $36 million to shareholders during the quarter, including $20 million in dividends and $16 million in share repurchases. Since launching its shareholder return program, the company has returned more than $370 million through buybacks and dividends, Dhruv said.

At quarter-end, Weatherford had about $1.14 billion of cash and restricted cash, total liquidity of $1.7 billion and a net leverage ratio of 0.34 times.

For the third quarter, Weatherford expects:

Revenue of $1.105 billion to $1.155 billion; Adjusted EBITDA of $235 million to $265 million; Adjusted free cash flow of more than $100 million. For full-year 2026, the company now expects revenue of $4.54 billion to $4.80 billion and adjusted EBITDA of $951 million to $1.046 billion. Weatherford raised its adjusted free cash flow conversion outlook to the mid-to-high 40% range, up from its prior outlook, while forecasting an effective tax rate in the low-to-mid 20% range.

Regional and segment trends mixed Latin America revenue declined sequentially, driven primarily by Mexico, where activity came in below expectations as several wells were deferred and Weatherford’s largest customer in the country continued to prioritize spending, Saligram said. However, collections from that customer were strong, and the company has aligned its cost structure and footprint in Mexico to current activity levels.

During the Q&A, Saligram said Pemex appears to have reached “a point of stability,” adding that Weatherford is not betting on a major increase in activity but sees potential for mid-to-high single-digit growth in 2027 and beyond. Dhruv said the second quarter marked the third consecutive quarter of sizable collections from Pemex and said the company is cautiously optimistic that trend will continue.

In Europe, Sub-Saharan Africa and Russia, revenue grew sequentially on higher activity, though a labor strike in Norway affected activity late in the quarter and is expected to remain a headwind into the third quarter.

By segment, Weatherford said:

Well Construction and Completions revenue declined 5% year over year, primarily due to lower activity in the Middle East and North Africa, partly offset by higher completions activity in Latin America; Drilling and Evaluation revenue declined 13% year over year, mainly from lower wireline and drilling-related services activity in MENA, partly offset by higher managed pressure drilling activity in Europe, Sub-Saharan Africa and Russia; Production and Intervention revenue declined 3% year over year, primarily due to lower artificial lift activity in North America and Latin America. Contracts, NCS acquisition and redomestication plans Saligram highlighted several contract awards, particularly in deepwater markets. In Brazil, Weatherford received offshore well intervention and managed pressure drilling awards from Constellation Oil Services, Ventura Offshore and Valaris. In West Africa, Noble Corporation awarded multiple managed pressure drilling contracts and a global aftermarket agreement in Nigeria, while Esso Exploration and Production Nigeria awarded Weatherford a deepwater integrated completions contract. Chevron awarded a five-year framework contract in Australia for tubular running services, casing accessories and other tools tied to a deepwater development project.

Beyond deepwater, Saligram said Kuwait Oil Company awarded two five-year contracts for cementation products and completion services, while PTTEP awarded a 22-month downhole deployment valve contract in Thailand. Petroleum Development Oman awarded Weatherford a three-year integrated drilling services contract covering 247 wells in the Marmul Field.

Weatherford also discussed its definitive agreement to acquire NCS Multistage, which Saligram said expands the company’s completions portfolio and increases exposure to unconventional resources. The transaction is expected to close in the second half of 2026, subject to regulatory approvals and customary closing conditions. Weatherford expects at least $15 million of annual cost synergies within 18 months of closing.

Saligram said the deal is “at its core, a distribution play,” with NCS bringing differentiated technology and Weatherford offering a customer base across six continents. In response to analyst questions, he said the focus is less on increasing North American exposure and more on scaling NCS technologies globally, including in Argentina, the Middle East and other unconventional markets.

Saligram also updated investors on Weatherford’s proposed redomestication to the United States. A prior proposal to redomesticate to Texas received more than 60% support from votes cast but fell short of the 75% threshold required under Irish law. Weatherford has since introduced a proposal to redomesticate to Delaware, with special shareholder meetings scheduled for Sept. 3. The company continues to expect $20 million to $30 million of annual cash savings beginning in 2027, subject to approvals.

Management emphasizes margins and cash discipline Throughout the call, management emphasized that Weatherford would prioritize returns over lower-margin revenue. In response to Barclays analyst David Anderson, Saligram said the company recognizes that top-line growth is needed over the long term, but it will walk away from contracts that do not provide the right returns unless they offer strategic capability benefits.

Saligram said Weatherford sees a multi-year demand cycle forming around energy security, though the timing and pace have been affected by geopolitical events and demand uncertainty. He said national oil companies and governments are increasingly anchoring investment programs around security of supply, including gas programs, deepwater projects and domestic production initiatives.

“The recovery will be progressive, and we are managing the company accordingly,” Saligram said.

About Weatherford International (NASDAQ:WFRD) Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.

Key Takeaways WFRD's Q2 earnings fell 70.6% year over year, while revenues beat estimates by 3.8%.Middle East disruptions, pricing pressure and higher logistics costs weighed on profitability.WFRD expects a gradual Middle East recovery and third-quarter revenues of $1.11-$1.16 billion. Weatherford International plc (WFRD - Free Report) reported second-quarter 2026 earnings of 55 cents per share, down 70.6% from $1.87 a year ago. The bottom line missed the Zacks Consensus Estimate of 92 cents by 40.2%.

Quarterly revenues of $1.11 billion beat the consensus estimate of $1.06 billion by 3.8% but declined 8.2% year over year.

Weak quarterly earnings can be attributed to disruptions in the Middle East and lower activity across several markets.

WFRD’s Regional Results Reflect Broad PressureNorth America revenues fell 15% year over year to $205 million. Lower Artificial Lift and Cementation Products activity affected the segment, partially offset by stronger Completions activity in the U.S. offshore market.

International revenues declined to $900 million from $963 million in the year-ago quarter. Latin America revenues edged up 1% year over year to $197 million, backed by stronger Completions activity in the Caribbean and managed pressure drilling in Mexico.

Middle East/North Africa/Asia revenues dropped 15% from the year-ago period to $446 million in the second quarter due to escalating geopolitical tensions that disrupted activity. Europe/Sub-Sahara Africa/Russia revenues rose to $257 million, up 5% from the corresponding period in 2025, driven by stronger Pressure Pumping and managed pressure drilling activity, partially offset by reduced Drilling Services activity in Europe.

Weatherford’s Segment ResultsDrilling and Evaluation revenues decreased 13% year over year to $291 million. Segment adjusted EBITDA fell 16% to $58 million, primarily due to lower Wireline and drilling-related services activity, partly offset by stronger managed pressure drilling performance in Europe/Sub-Sahara Africa/Russia.

Well Construction and Completions revenues declined 5% from the prior-year quarter to $433 million, while segment adjusted EBITDA fell 9% to $107 million. Revenues in the segment were pressured by lower activity in the Middle East/North Africa/Asia, while higher Completions activity in Latin America partially offset the impact.

Production and Intervention revenues slipped to $316 million, down 3% from the prior-year period due to reduced Artificial Lift activity in North America and Latin America. However, segment adjusted EBITDA increased to $70 million from $63 million in the second quarter of 2025, supported by stronger fall-through in Intervention Services and Drilling Tools in North America and Europe/Sub-Sahara Africa/Russia.

WFRD’s Profitability Faces Operational HeadwindsOperating income totaled $107 million, down approximately 55% from $237 million in the prior-year quarter. Net income attributable to Weatherford declined to $39 million from $136 million a year ago, while the net income margin was 3.5% in the reported quarter.

Adjusted EBITDA totaled $223 million, down 12% year over year. The company absorbed the impact of lower activity, pricing pressure and elevated freight and logistics costs related to the Middle East conflict.

Moreover, reduced activity in Indonesia and a union strike in Norway further pressured performance in the second quarter. Cost discipline helped keep the adjusted EBITDA margin nearly flat sequentially despite the weaker revenue base.

Weatherford Strengthens Cash Flow and LiquidityCash provided by operating activities was $175 million, up 37% year over year. Adjusted free cash flow increased 76% to $139 million, supported by working capital improvement, continued customer collections and lower capital spending. Capital expenditures were $42 million in the second quarter.

Weatherford returned $36 million to shareholders through $20 million in dividends and $16 million in share repurchases. The company ended the quarter with approximately $1.14 billion of cash and restricted cash, total liquidity of $1.7 billion and a net leverage ratio of 0.34X. Weatherford’s long-term debt at the end of the quarter stood at $1.45 billion.

WFRD Advances Key Strategic InitiativesWeatherford agreed to acquire NCS Multistage in a stock-and-cash transaction that expands its completions portfolio and exposure to unconventional resources. Management expects the deal to generate at least $15 million of annual cost synergies within 18 months of closing.

The company also introduced an updated proposal to redomesticate from Ireland to Delaware. Subject to shareholder and Irish High Court approvals, the move is expected to generate annual cash savings of $20-$30 million beginning in 2027.

Weatherford Updates Guidance Amid Gradual RecoveryFor the third quarter of 2026, management expects revenues of $1.11-$1.16 billion and adjusted EBITDA of $235-$265 million. Adjusted free cash flow is projected to exceed $100 million. The outlook assumes a progressive recovery in the Middle East, partly offset by activity declines in certain markets and the expiration of a Saudi contract.

For 2026, Weatherford now expects revenues of $4.54-$4.80 billion and adjusted EBITDA of $951 million to $1.05 billion. Adjusted free cash flow conversion is projected in the mid-to-high 40% range. Management expects the Middle East recovery to remain gradual and dependent on regional stability.

WFRD’s Zacks Rank & Key PicksWFRD currently carries a Zacks Rank #3 (Hold).

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3 Oil & Gas Gear Makers With Triple-Digit EPS Growth ForecastsWeatherford International NASDAQ: WFRD reported second-quarter 2026 revenue of $1.105 billion, adjusted EBITDA of $223 million and adjusted free cash flow of $139 million, as management said the oilfield services company held margins steady despite operational disruptions tied to conflict in the Middle East and softer activity in several markets.

President and CEO Girish Saligram said adjusted EBITDA margin was 20.2% in the quarter, while adjusted free cash flow conversion reached 62.3% of adjusted EBITDA. He said the company was “especially pleased” with margin and cash performance given a challenging backdrop that included Middle East activity not returning to pre-conflict levels, activity declines in Indonesia, pricing pressure in some areas and a union strike in Norway.

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Oilfield Services Growing Faster Than Wider Energy Sector“Despite those incremental pressures, our team rallied to deliver EBITDA margins north of 20% and essentially flat to Q1,” Saligram said. He also cited working capital execution, including strong payments from Weatherford’s largest customer in Mexico, as a key driver of cash flow.

Middle East disruptions weigh on outlook Saligram said the Middle East was the most visibly affected region in the quarter, with activity suspensions, project deferrals and logistical disruptions that began in March continuing through much of the period. Freight and logistics costs remained elevated, peaking in May before beginning to moderate, he said.

2 Energy Mid-Caps Expected To Post Monster Earnings GrowthThe company previously estimated a first-half profit impact of $30 million to $50 million from the regional conflict. Saligram said the first-half impact was within that range, but that the full-year effect is expected to increase following recent flare-ups, and Weatherford has incorporated that into its guidance.

In response to a question from Citigroup analyst Scott Gruber, Saligram said the financial impact does not appear to be increasing at the moment and is moderating, though he cautioned that the situation remains uncertain. He said Saudi Arabia had started to return to normalcy before the latest flare-up, while Oman remained broadly stable. He identified Bahrain, Qatar, Iraq and Kuwait as areas that had seen more disruption and delay.

Weatherford also saw revenue decline in Saudi Arabia following the conclusion of its LSTK contract, an effect Saligram said will be more visible in the second half. He said the company remains interested in growth in Saudi Arabia but is comfortable not having an LSTK contract given market pricing levels.

Guidance revised, cash flow outlook raised Executive Vice President and CFO Anuj Dhruv said Weatherford generated $139 million of adjusted free cash flow in the second quarter, compared with adjusted free cash flow conversion of 31.1% in the second quarter of 2025 and 36.5% in the first quarter of 2026. He attributed the improvement primarily to working capital release, continued collections, including from the company’s key customer in Mexico, and lower capital expenditures.

Dhruv said adjusted net working capital as a percentage of revenue improved sequentially by about 90 basis points to 27%, marking the second consecutive quarter of improvement. Capital expenditures were $42 million, or 3.8% of revenue, down about $12 million from the prior-year quarter.

Weatherford returned $36 million to shareholders during the quarter, including $20 million in dividends and $16 million in share repurchases. Since launching its shareholder return program, the company has returned more than $370 million through buybacks and dividends, Dhruv said.

At quarter-end, Weatherford had about $1.14 billion of cash and restricted cash, total liquidity of $1.7 billion and a net leverage ratio of 0.34 times.

For the third quarter, Weatherford expects:

Revenue of $1.105 billion to $1.155 billion; Adjusted EBITDA of $235 million to $265 million; Adjusted free cash flow of more than $100 million. For full-year 2026, the company now expects revenue of $4.54 billion to $4.80 billion and adjusted EBITDA of $951 million to $1.046 billion. Weatherford raised its adjusted free cash flow conversion outlook to the mid-to-high 40% range, up from its prior outlook, while forecasting an effective tax rate in the low-to-mid 20% range.

Regional and segment trends mixed Latin America revenue declined sequentially, driven primarily by Mexico, where activity came in below expectations as several wells were deferred and Weatherford’s largest customer in the country continued to prioritize spending, Saligram said. However, collections from that customer were strong, and the company has aligned its cost structure and footprint in Mexico to current activity levels.

During the Q&A, Saligram said Pemex appears to have reached “a point of stability,” adding that Weatherford is not betting on a major increase in activity but sees potential for mid-to-high single-digit growth in 2027 and beyond. Dhruv said the second quarter marked the third consecutive quarter of sizable collections from Pemex and said the company is cautiously optimistic that trend will continue.

In Europe, Sub-Saharan Africa and Russia, revenue grew sequentially on higher activity, though a labor strike in Norway affected activity late in the quarter and is expected to remain a headwind into the third quarter.

By segment, Weatherford said:

Well Construction and Completions revenue declined 5% year over year, primarily due to lower activity in the Middle East and North Africa, partly offset by higher completions activity in Latin America; Drilling and Evaluation revenue declined 13% year over year, mainly from lower wireline and drilling-related services activity in MENA, partly offset by higher managed pressure drilling activity in Europe, Sub-Saharan Africa and Russia; Production and Intervention revenue declined 3% year over year, primarily due to lower artificial lift activity in North America and Latin America. Contracts, NCS acquisition and redomestication plans Saligram highlighted several contract awards, particularly in deepwater markets. In Brazil, Weatherford received offshore well intervention and managed pressure drilling awards from Constellation Oil Services, Ventura Offshore and Valaris. In West Africa, Noble Corporation awarded multiple managed pressure drilling contracts and a global aftermarket agreement in Nigeria, while Esso Exploration and Production Nigeria awarded Weatherford a deepwater integrated completions contract. Chevron awarded a five-year framework contract in Australia for tubular running services, casing accessories and other tools tied to a deepwater development project.

Beyond deepwater, Saligram said Kuwait Oil Company awarded two five-year contracts for cementation products and completion services, while PTTEP awarded a 22-month downhole deployment valve contract in Thailand. Petroleum Development Oman awarded Weatherford a three-year integrated drilling services contract covering 247 wells in the Marmul Field.

Weatherford also discussed its definitive agreement to acquire NCS Multistage, which Saligram said expands the company’s completions portfolio and increases exposure to unconventional resources. The transaction is expected to close in the second half of 2026, subject to regulatory approvals and customary closing conditions. Weatherford expects at least $15 million of annual cost synergies within 18 months of closing.

Saligram said the deal is “at its core, a distribution play,” with NCS bringing differentiated technology and Weatherford offering a customer base across six continents. In response to analyst questions, he said the focus is less on increasing North American exposure and more on scaling NCS technologies globally, including in Argentina, the Middle East and other unconventional markets.

Saligram also updated investors on Weatherford’s proposed redomestication to the United States. A prior proposal to redomesticate to Texas received more than 60% support from votes cast but fell short of the 75% threshold required under Irish law. Weatherford has since introduced a proposal to redomesticate to Delaware, with special shareholder meetings scheduled for Sept. 3. The company continues to expect $20 million to $30 million of annual cash savings beginning in 2027, subject to approvals.

Management emphasizes margins and cash discipline Throughout the call, management emphasized that Weatherford would prioritize returns over lower-margin revenue. In response to Barclays analyst David Anderson, Saligram said the company recognizes that top-line growth is needed over the long term, but it will walk away from contracts that do not provide the right returns unless they offer strategic capability benefits.

Saligram said Weatherford sees a multi-year demand cycle forming around energy security, though the timing and pace have been affected by geopolitical events and demand uncertainty. He said national oil companies and governments are increasingly anchoring investment programs around security of supply, including gas programs, deepwater projects and domestic production initiatives.

“The recovery will be progressive, and we are managing the company accordingly,” Saligram said.

About Weatherford International (NASDAQ:WFRD)Weatherford International NASDAQ: WFRD is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Second quarter revenue of $1,105 million decreased 4% sequentially  Second quarter operating income of $107 million decreased 13% sequentiallySecond quarter net income of $39 million decreased 64% sequentially; net income margin of 3.5%Second quarter adjusted EBITDA* of $223 million, decreased 4% sequentially; adjusted EBITDA margin* of 20.2% decreased 4 basis points sequentiallySecond quarter cash provided by operating activities of $175 million and adjusted free cash flow* of $139 millionShareholder return of $36 million for the quarter, which included dividend payments of $20 million and share repurchases of $16 millionAnnounced the acquisition of NCS Multistage (NASDAQ: NCSM) in a stock-and-cash transaction, expanding Weatherford’s well completions portfolioIntroduced an updated plan to redomesticate from Ireland to Delaware, reflecting continued confidence in the initiative’s long-term value creation potentialAwarded several Managed Pressure Drilling (“MPD”) contracts from Noble Corporation, Constellation Oil Services and Ventura Offshore Holding Ltd. *Non-GAAP - refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled

HOUSTON, July 21, 2026 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) announced today its results for the second quarter of 2026.

Revenues for the second quarter of 2026 were $1,105 million, a decrease of 4% sequentially and a decrease of 8% year-over-year. Operating income in the second quarter of 2026 was $107 million, a decrease of 13% sequentially and a decrease of 55% year-over-year. Net income in the second quarter of 2026 was $39 million, with a 3.5% margin, a decrease of 64%, or 585 basis points, sequentially, and a decrease of 71%, or 777 basis points, year-over-year. Adjusted EBITDA* was $223 million, with a 20.2% margin*, a decrease of 4% or 4 basis points, sequentially, and a decrease of 12% or 92 basis points, year-over-year. Basic income per share in the second quarter of 2026 was $0.55, a decrease of 63% sequentially and a decrease of 70% year-over-year. Diluted income per share in the second quarter of 2026 was $0.55, a decrease of 63% sequentially and a decrease of 70% year-over-year.

Second quarter 2026 cash flows provided by operating activities were $175 million, an increase of 29% sequentially and an increase of 37% year-over-year. Adjusted free cash flow* was $139 million, an increase of 64% sequentially and an increase of 76% year-over-year. Capital expenditures were $42 million in the second quarter of 2026, a decrease of 22% sequentially and a decrease of 22% year-over-year.

Girish Saligram, President and Chief Executive Officer, commented, “Despite the significant disruption in the Middle East due to the Iran conflict, our second-quarter results, especially adjusted free cash flow, were strong, demonstrating the reliability and resilience of our operating paradigm. I am proud of the One Weatherford team for coming together to deliver once again.

While the Middle East situation remains volatile and creates activity headwinds in the short term, our longer-term thesis remains intact. A return to the pre-conflict operating levels is expected to be gradual, contingent on continued regional stability, and requires an absence of further geopolitical escalation. Our second half 2026 outlook is appropriately adjusted to reflect these dynamics and while our total year outlook has slightly reduced, the second half represents a significant ramp up in margin contribution versus the first half.

We remain focused on the factors within our control, driving long-term shareholder value through disciplined execution, portfolio strengthening, and structural simplification. The adjusted free cash flow performance and improved outlook on conversion is a consequence of this focus. The acquisition of NCS Multistage strengthens our completions portfolio, expands our technology offering, and gives us at least $15 million of cost synergies upon closing and integration. In parallel, our updated proposal to redomesticate to Delaware reinforces our commitment and our shareholders’ confidence in the multi-faceted benefits of this initiative. When completed, we expect the redomestication and related corporate restructuring to generate $20 to $30 million of annual cash savings, further enhancing our cash flow profile.”

*Non-GAAP - refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled

Operational & Commercial Highlights

Noble Corporation awarded Weatherford multiple MPD contracts and a global aftermarket agreement in Nigeria.Constellation Oil Services awarded Weatherford two contracts to provide offshore well intervention operations and MPD in deepwater Brazil.Ventura Offshore Holding Ltd. awarded Weatherford a complete MPD solution contract for the SSV Victoria offshore drilling rig in Brazil.Valaris awarded Weatherford a two-year contract to provide MPD equipment and services in offshore Brazil.Esso Exploration & Production Nigeria Ltd., an ExxonMobil affiliate, awarded Weatherford a deepwater integrated completions contract including integrated upper and lower completions solutions for deepwater wells in offshore Nigeria.Petroleum Development Oman awarded Weatherford a three-year contract to provide Integrated Drilling Services covering 247 wells in the Marmul field, supporting both production and injection operations, following the successful completion of the 837-well contract awarded in 2022.Chevron awarded Weatherford a five-year framework contract, which establishes the basis for Weatherford to provide Tubular Running Services (“TRS”), casing accessories, remote controlled top drive cement head, Fishing/Milling & Whipstocks services for Chevron’s Gorgon Stage 3 multi-well deepwater development project in Australia.Oil & Gas Development Company Limited awarded Weatherford a three-year contract to provide Wireline services in Pakistan.PTTEP Thailand awarded Weatherford a 22-month contract to supply downhole deployment valves and services for Sinphuhorm oil and gas field.
Kuwait Oil Company awarded two five-year contracts for the supply of Annular Casing Packer for Triassic-Paleozoic High-Pressure High-Temperature Wells and the supply of Electronic Submersible Pumps feed-through packers for multiple wells.Shell awarded Weatherford the non-welded mandrel scope for its offshore Gulf of America operations. Technology Highlights

Drilling & Evaluation (“DRE”) In Saudi Arabia, Weatherford completed the first qualification deployment of ArrayPro™ with Aramco, validating a fully integrated production logging solution for horizontal wells. The ruggedized system delivered high quality real time data and reliable performance in demanding environments, supporting improved reservoir insight and production optimization.In France, Weatherford supported Lithium de France’s geothermal and lithium exploration at Schwabwiller in Alsace using a PressurePro™ MPD Lite configuration with a Rotating Control Device and choke. The system maintained near balanced conditions and effectively managed influx behavior, enabling safe operations within a narrow operating window. This approach improved drilling efficiency and enabled the well to reach target depth, reinforcing Weatherford’s differentiated capability in European geothermal and lithium developments. Well Construction and Completions (“WCC”) In Denmark, Weatherford delivered its first MARS™ operation in Europe within a geothermal application for Innargi A/S. Selected over conventional logging for its multipoint array sensing capability, the system provided clear visualization across injection zones. Over a five-day campaign, it delivered detailed real-time insights into reservoir behavior, enabling the identification of previously undetected anomalies and supporting improved reservoir understanding.In the United Arab Emirates (“UAE”), Weatherford was recognized as “Best Liner Hanger Supplier and Services Provider” by a National Oil Company, reflecting strong execution and partnership performance. The Liner Hanger Systems team completed over 100 liner deployments across more than 22,000 operational hours in the previous year, demonstrating consistent delivery that reduces operational variability and supports efficient well construction and schedule reliability. Production and Intervention (“PRI”) In the UAE, Weatherford introduced the Rotaflex™ 1160 long stroke pumping unit, delivered as a fully integrated solution to address highly challenging unconventional reservoirs. Designed for rigless operations, the system is engineered to maximize recovery and accelerate payback. By optimizing performance across the full production system, it enhances reliability, reduces operational complexity, and supports lower power consumption and emissions.In the Permian Basin, Weatherford deployed its Hi-VOL™ hydraulic jet pump technology for key operators, replacing Electric Submersible Pump systems that had experienced premature failures in corrosive environments. This solution improves reliability, reduces intervention frequency and workover costs, and sustains production rates. Following the initial deployments at the end of 2025, the program expanded to 15 active units by the second quarter of 2026 with strong performance standards. Shareholder Return

During the second quarter of 2026, Weatherford paid dividends of $20 million and repurchased shares for $16 million, resulting in a total shareholder return of $36 million. In the first half of the year, Weatherford paid dividends of $40 million and repurchased shares for approximately $26 million, resulting in a total shareholder return of $66 million.

On July 16, 2026, our Board declared a cash dividend of $0.275 per share of the Company’s ordinary shares. The dividend is payable on September 3, 2026, to shareholders of record as of August 6, 2026.

Other Events

The previous proposal to redomesticate to Texas received support in excess of 60% of votes cast at the Company’s June 2026 shareholder meetings, but did not receive the requisite 75% support needed to pass. Consequently, the Company introduced an updated plan to redomesticate to Delaware. This revised proposal reinforces Weatherford’s conviction in the value creation potential through simplified corporate structure, effective execution of merger and acquisition transactions, improved financial market access, and increased shareholder value. Subject to approval in 2026, the redomestication and related corporate restructuring is expected to generate annual cash savings of approximately $20 to $30 million beginning in 2027.

Results by Reportable Segment

Drilling and Evaluation (“DRE”)

  Three Months Ended Variance($ in Millions) Jun 30,
2026 Mar 31,
2026 Jun 30,
2025 Seq. YoYRevenue $291  $321  $335  (9)% (13)%Segment Adjusted EBITDA $58  $72  $69  (19)% (16)%Segment Adj EBITDA Margin  19.9%  22.4%  20.6% (250)bps (67)bps Second quarter 2026 DRE revenue of $291 million decreased by $30 million, or 9% sequentially, primarily from lower MPD and Wireline activity in the Middle East on account of the heightened geopolitical tensions and lower Wireline activity in North America, partly offset by higher MPD activity in Europe/Sub-Sahara Africa/Russia. Year-over-year DRE revenue decreased by $44 million, or 13%, primarily from lower Wireline and Drilling-related Services activity, partly offset by higher MPD activity in Europe/Sub-Sahara Africa/Russia.

Second quarter 2026 DRE segment adjusted EBITDA of $58 million decreased by $14 million, or 19% sequentially, primarily from lower MPD and Wireline activity in the Middle East on account of the heightened geopolitical tensions and lower Wireline activity in North America, partly offset by higher MPD activity and strong fall through in Europe/Sub-Sahara Africa/Russia. Year-over-year DRE segment adjusted EBITDA decreased by $11 million, or 16%, primarily from lower Wireline and Drilling-related Services activity, partly offset by higher MPD activity and fall through in Europe/Sub-Sahara Africa/Russia.

Well Construction and Completions (“WCC”)

  Three Months Ended Variance($ in Millions) Jun 30,
2026 Mar 31,
2026 Jun 30,
2025 Seq. YoYRevenue $433  $443  $456  (2)% (5)%Segment Adjusted EBITDA $107  $110  $118  (3)% (9)%Segment Adj EBITDA Margin  24.7%  24.8%  25.9% (12)bps (117)bps Second quarter 2026 WCC revenue of $433 million decreased by $10 million, or 2% sequentially, primarily from lower Liner Hanger and Completions activity in the Middle East/North Africa/Asia, partly offset by higher Cementation Products activity in Middle East/North Africa/Asia and higher Completions activity in Europe/Sub-Sahara Africa/Russia. Year-over-year, WCC revenues decreased by $23 million, or 5%, primarily from lower activity in Middle East/North Africa/Asia, partly offset by higher Completions activity in Latin America.

Second quarter 2026 WCC segment adjusted EBITDA of $107 million decreased by $3 million, or 3% sequentially, primarily from lower Liner Hanger and Completions activity in the Middle East/North Africa/Asia and lower fall through in Latin America, partly offset by higher Cementation Products activity in Middle East/North Africa/Asia and higher Completions activity in Europe/Sub-Sahara Africa/Russia. Year-over-year WCC segment adjusted EBITDA decreased by $11 million, or 9% primarily from lower activity in Middle East/North Africa/Asia, partly offset by higher Cementation Products fall through in the region.

Production and Intervention (“PRI”)

  Three Months Ended Variance($ in Millions) Jun 30,
2026 Mar 31,
2026 Jun 30,
2025 Seq. YoYRevenue $316  $296  $327  7% (3)%Segment Adjusted EBITDA $70  $54  $63  30% 11%Segment Adj EBITDA Margin  22.2%  18.2%  19.3% 391bps 289bps Second quarter 2026 PRI revenue of $316 million increased by $20 million, or 7% sequentially, primarily from higher international Pressure Pumping activity and higher Artificial Lift activity in North America, partly offset by lower Artificial Lift activity in Latin America and Europe/Sub-Sahara Africa/Russia. Year-over-year PRI revenue decreased by $11 million, or 3%, primarily from lower Artificial Lift activity in North America and Latin America, partly offset by higher Pressure Pumping activity.

Second quarter 2026 PRI segment adjusted EBITDA of $70 million increased by $16 million, or 30%, sequentially, primarily from higher international Pressure Pumping activity and fall through, partly offset by lower Artificial Lift activity in Latin America and Europe/Sub-Sahara Africa/Russia. Year-over-year PRI segment adjusted EBITDA increased by $7 million, or 11% primarily from higher Intervention Services & Drilling Tools fall through in North America and Europe/Sub-Sahara Africa/Russia, partly offset by lower Subsea Intervention activity and fall through in Latin America.

Revenue by Geography 

  Three Months Ended Variance($ in Millions) Jun 30,
2026 Mar 31,
2026 Jun 30,
2025 Seq. YoYNorth America $205 $220 $241 (7)% (15)%           International $900 $932 $963 (3)% (7)%Latin America  197  223  195 (12)% 1%Middle East/North Africa/Asia  446  476  524 (6)% (15)%Europe/Sub-Sahara Africa/Russia  257  233  244 10% 5%Total Revenue $1,105 $1,152 $1,204 (4)% (8)% North America

Second quarter 2026 North America revenue of $205 million decreased by $15 million, or 7%, sequentially, primarily from lower Wireline and Completions activity in Canada, partly offset by higher Artificial Lift activity in U.S. land. Year-over-year, North America revenue decreased by $36 million, or 15%, primarily from lower Artificial Lift and Cementation Products activity, partly offset by higher Completions activity in U.S. offshore.

International

Second quarter 2026 international revenue of $900 million decreased by $32 million, or 3% sequentially and decreased by $63 million, or 7% year-over-year.

Second quarter 2026 Latin America revenue of $197 million decreased by $26 million, or 12% sequentially, primarily from lower Drilling-related Services and Integrated Services & Projects activity in Mexico, partly offset by higher Completions activity in the country. Year-over-year, Latin America revenue increased by $2 million, or 1%, primarily from higher Completions activity in the Caribbean and higher MPD in Mexico, partly offset by lower Drilling-related Services activity in Argentina and Mexico.

Second quarter 2026 Middle East/North Africa/Asia revenue of $446 million decreased by $30 million, or 6% sequentially, primarily from lower activity on account of heightened geopolitical tensions partly offset by higher Cementation Products activity in Saudi Arabia. Year-over-year, the Middle East/North Africa/Asia revenue decreased by $78 million, or 15%, primarily from lower activity on account of heightened geopolitical tensions partly offset by higher Drilling Services in Kuwait.

Second quarter 2026 Europe/Sub-Sahara Africa/Russia revenue of $257 million increased by $24 million or 10% sequentially, primarily from higher Pressure Pumping, Completions and MPD activity, partly offset by lower Drilling Services activity in Europe. Year-over-year, Europe/Sub-Sahara Africa/Russia revenue increased by $13 million or 5%, primarily from higher Pressure Pumping and MPD activity, partly offset by lower Drilling Services activity in Europe.

About Weatherford
Weatherford is a global energy services company that helps customers drill smarter, complete wells more effectively, and maximize production across the entire well lifecycle. With a differentiated portfolio of market-leading solutions, integrated technologies, and a broad global customer footprint across six continents, we blend advanced engineering, digital intelligence, and world-class field expertise to reduce risk, improve performance, and maximize the value of customer assets. Together, we elevate every operation, delivering stronger wells, sharper decisions, and better energy for the world. Visit weatherford.com for more information and connect with us on social media.

Conference Call Details

Weatherford will host a conference call on Wednesday, July 22, 2026, to discuss the Company’s results for the second quarter ended June 30, 2026. The conference call will begin at 8:30 a.m. Eastern Time (7:30 a.m. Central Time).

Listeners are encouraged to download the accompanying presentation slides which will be available in the investor relations section of the Company’s website.

Listeners can participate in the conference call via a live webcast at https://www.weatherford.com/investor-relations/investor-news-and-events/events/ or by dialing +1 877-328-5344 (within the U.S.) or +1 412-902-6762 (outside of the U.S.) and asking for the Weatherford conference call. Participants should log in or dial in approximately 10 minutes prior to the start of the call.

A telephonic replay of the conference call will be available until August 5, 2026, at 5:00 p.m. Eastern Time. To access the replay, please dial +1 855-669-9658 (within the U.S.) or +1 412-317-0088 (outside of the U.S.) and reference conference number 2958915. A replay and transcript of the earnings call will also be available in the investor relations section of the Company’s website.

Contacts
For Investors:
Luke Lemoine
Senior Vice President, Corporate Development & Investor Relations
+1 713-836-7777
[email protected] 

For Media:

Kelley Hughes
Senior Director, Communications, Marketing & Sustainability
[email protected] 

Forward-Looking Statements

This news release contains projections and forward-looking statements concerning, among other things, the Company’s adjusted EBITDA*, adjusted EBITDA margin*, adjusted free cash flow*, shareholder return program, forecasts or expectations regarding business outlook, prospects for its operations, capital expenditures, expectations regarding future financial results, and are also generally identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “outlook,” “budget,” “intend,” “strategy,” “plan,” “guidance,” “may,” “should,” “could,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions, although not all forward-looking statements contain these identifying words. Such statements are based upon the current beliefs of Weatherford’s management and are subject to significant risks, assumptions, and uncertainties. Should one or more of these risks or uncertainties materialize, or underlying assumptions prove incorrect, actual results may vary materially from those indicated in our forward-looking statements. Readers are cautioned that forward-looking statements are only estimates and may differ materially from actual future events or results, based on factors including but not limited to: global political, economic and market conditions, political disturbances, war or other global conflicts, terrorist attacks, public health issues such as pandemics, changes in global trade policies, tariffs and sanctions, weak local economic conditions and international currency fluctuations; general global economic repercussions related to U.S. and global inflationary pressures and potential recessionary concerns; various effects from the Russia Ukraine conflict, conflicts in the Middle East (including the Iran conflict) or instability in Latin America, including, but not limited to, nationalization of assets, extended business interruptions, sanctions, treaties and regulations (including changes in the regulatory environment) imposed by various countries, associated operational and logistical challenges, and impacts to the overall global energy supply; cybersecurity issues; our ability to comply with, and respond to, climate change, environmental, social and governance and other sustainability initiatives and future legislative and regulatory measures both globally and in specific geographic regions; the price and price volatility of, and demand for, oil and natural gas; the macroeconomic outlook for the oil and gas industry; our ability to generate cash flow from operations to fund our operations; our ability to effectively and timely adapt our technology portfolio, products and services to remain competitive, and to address and participate in changes to the market demands, including for the transition to alternate sources of energy such as geothermal, carbon capture and responsible abandonment, including our digitalization efforts and our incorporation of artificial intelligence tools, increases in the prices and lead times, and the lack of availability of our procured products and services, including due to macroeconomic and geopolitical conditions such as tariffs and changes in trade policies, our ability to timely collect from customers; our ability to manage our workforce and systems, including the impact of our enterprise resource planning system implementation and business enhancements; our ability to effectively execute our capital allocation framework; our ability to return capital to shareholders, including those related to the timing and amounts (including any plans or commitments in respect thereof) of any dividends and share repurchases; the realization of additional cost savings and operational efficiencies, including as a result of our proposed Redomestication from Ireland to Delaware; our ability to receive, in a timely manner and on satisfactory terms, required shareholder and court approval, and to satisfy the other conditions to the proposed Redomestication within the expected timeframe or at all; our ability to realize the expected benefits from the proposed Redomestication; the occurrence of difficulties in connection with the Redomestication, including any costs related thereto; the risk that the proposed Redomestication disrupts current plans and operations; any changes in tax laws, tax treaties or tax regulations or the interpretation or enforcement thereof by the tax authorities in Ireland, the United States and other jurisdictions following the proposed Redomestication; the future financial performance of Weatherford following the Redomestication; the risk that the proposed acquisition of NCS Multistage is not consummated as expected, in a timely manner or at all; and our ability to achieve the anticipated benefits of the proposed acquisition within the expected time period or at all.

These risks and uncertainties are more fully described in Weatherford’s reports and registration statements filed with the U.S. Securities and Exchange Commission (the “SEC”), including the risk factors described in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Accordingly, you should not place undue reliance on any of the Company’s forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law, and we caution you not to rely on them unduly.
*Non-GAAP - refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled

Additional Information and Where to Find It
In connection with the proposed Redomestication, Weatherford filed a definitive proxy statement with the SEC on July 13, 2026. Weatherford may also file other relevant documents with the SEC regarding the proposed Redomestication. The definitive proxy statement will be mailed to shareholders of Weatherford. This communication is not a substitute for any proxy statement or any other document that may be filed with the SEC or sent to Weatherford’s shareholders in connection with the proposed Redomestication.

INVESTORS AND SECURITY HOLDERS OF Weatherford ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT Weatherford AND THE PROPOSED REDOMESTICATION AND RELATED MATTERS.

Investors and security holders are able to obtain free copies of the definitive proxy statement and other documents containing important information about Weatherford and the proposed Redomestication through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by Weatherford are available free of charge on Weatherford’s website at www.weatherford.com.

Participants in the Solicitation
Weatherford and its directors, executive officers and other members of management and employees may, under the rules of the SEC, be deemed to be participants in the solicitation of proxies from Weatherford’s shareholders in connection with the proposed Redomestication. Information about the directors and executive officers of Weatherford and their ownership of Weatherford’s securities is set forth in the definitive proxy statement relating to the proposed Redomestication https://www.sec.gov/Archives/edgar/data/1603923/000119312526302022/d136463ddef14a.htm, which was filed with the SEC on July 13, 2026, including under the section “Share Ownership”. Additional information regarding Weatherford’s directors and executive officers is also included in Weatherford’s 2026 Proxy Statement, which was filed with the SEC on April 21, 2026. You may obtain free copies of these documents using the sources indicated above.

Weatherford International plcSelected Statements of Operations (Unaudited)             Three Months Ended Six Months Ended($ in Millions, Except Per Share Amounts) June 30,
2026 March 31,
2026 June 30,
2025 June 30,
2026 June 30,
2025Revenues:          DRE Revenues $291  $321  $335  $612  $685 WCC Revenues  433   443   456   876   897 PRI Revenues  316   296   327   612   661 All Other  65   92   86   157   154 Total Revenues  1,105   1,152   1,204   2,257   2,397            Operating Income:          DRE Segment Adjusted EBITDA[1] $58  $72  $69  $130  $143 WCC Segment Adjusted EBITDA[1]  107   110   118   217   246 PRI Segment Adjusted EBITDA[1]  70   54   63   124   125 All Other[2]  6   13   19   19   23 Corporate[2]  (18)  (16)  (15)  (34)  (30)Depreciation and Amortization  (71)  (70)  (64)  (141)  (126)Share-based Compensation  (11)  (12)  (9)  (23)  (16)Gain on Sale of Business  —   —   70   —   70 Restructuring Charges  (9)  (13)  (11)  (22)  (40)Other Charges, Net  (25)  (15)  (3)  (40)  (16)Operating Income  107   123   237   230   379            Other Expense:          Interest Expense, Net of Interest Income of $11, $10, $14, $21, and $25  (16)  (17)  (21)  (33)  (47)Other Expense, Net  (16)  (1)  (25)  (17)  (45)Income Before Income Taxes  75   105   191   180   287 Income Tax (Provision) Benefit  (33)  4   (46)  (29)  (56)Net Income  42   109   145   151   231 Net Income Attributable to Noncontrolling Interests  3   1   9   4   19 Net Income Attributable to Weatherford $39  $108  $136  $147  $212            Basic Income Per Share $0.55  $1.50  $1.87  $2.05  $2.91 Basic Weighted Average Shares Outstanding  71.9   71.9   72.2   71.9   72.7            Diluted Income Per Share $0.55  $1.49  $1.87  $2.04  $2.90 Diluted Weighted Average Shares Outstanding  72.2   72.2   72.4   72.2   72.9                      [1] Segment adjusted EBITDA is our primary measure of segment profitability under U.S. GAAP ASC 280 “Segment Reporting” and represents segment earnings before interest, taxes, depreciation, amortization, share-based compensation, restructuring charges and other adjustments. Research and development expenses are included in segment adjusted EBITDA.[2] All Other includes results from non-core business activities (including integrated services and projects), and Corporate includes overhead support and centrally managed or shared facilities costs. All Other and Corporate do not individually meet the criteria for segment reporting. Weatherford International plcSelected Balance Sheet Data (Unaudited)    ($ in Millions)June 30, 2026 December 31, 2025Assets:   Cash and Cash Equivalents$1,100 $987Restricted Cash 37  55Accounts Receivable, Net 1,104  1,234Inventories, Net 811  836Property, Plant and Equipment, Net 1,131  1,124Intangibles, Net 265  285    Liabilities:   Accounts Payable 625  650Accrued Salaries and Benefits 241  285Current Portion of Long-term Debt 30  30Long-term Debt 1,450  1,455    Shareholders’ Equity:   Total Shareholders’ Equity 1,789  1,696 Weatherford International plcSelected Cash Flows Information (Unaudited)             Three Months Ended Six Months Ended($ in Millions) June 30,
2026 March 31,
2026 June 30,
2025 June 30,
2026 June 30,
2025Cash Flows From Operating Activities:          Net Income $42  $109  $145  $151  $231 Adjustments to Reconcile Net Income to Net Cash Provided By Operating Activities:          Depreciation and Amortization  71   70   64   141   126 Foreign Exchange Losses (Gain)  10   (4)  17   6   30 Gain on Disposition of Assets  (7)  (6)  (3)  (13)  (4)Gain on Sale of Business  —   —   (70)  —   (70)Deferred Income Tax Provision (Benefit)  —   9   (5)  9   2 Share-Based Compensation  11   12   9   23   16 Changes in Accounts Receivable, Inventory, Accounts Payable, Accrued Salaries and Benefits and Income Taxes Payable  64   (26)  (33)  38   (47)Other Changes, Net  (16)  (28)  4   (44)  (14)Net Cash Provided By Operating Activities  175   136   128   311   270            Cash Flows From Investing Activities:          Capital Expenditures for Property, Plant and Equipment  (42)  (54)  (54)  (96)  (131)Proceeds from Disposition of Assets  6   3   5   9   6 Proceeds from Sale of Businesses  —   —   97   —   97 Purchases of Blue Chip Swap Securities  (11)  (3)  (83)  (14)  (83)Proceeds from Sales of Blue Chip Swap Securities  11   3   82   14   82 Other Investing Activities  (6)  (17)  (4)  (23)  (7)Net Cash Provided by (Used In) Investing Activities  (42)  (68)  43   (110)  (36)           Cash Flows From Financing Activities:          Repayments of Long-term Debt  (9)  (8)  (34)  (17)  (73)Distributions to Noncontrolling Interests  (5)  —   (8)  (5)  (8)Tax Remittance on Equity Awards  (1)  (17)  —   (18)  (20)Share Repurchases  (16)  (10)  (34)  (26)  (87)Dividends Paid  (20)  (20)  (18)  (40)  (36)Other Financing Activities  2   (1)  (3)  1   (6)Net Cash Used In Financing Activities $(49) $(56) $(97) $(105) $(230) Weatherford International plcNon-GAAP Financial Measures Defined (Unaudited) We report our financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, Weatherford’s management believes that certain non-GAAP financial measures (as defined under the SEC’s Regulation G and Item 10(e) of Regulation S-K) may provide users of this financial information additional meaningful comparisons between current results and results of prior periods and comparisons with peer companies. The non-GAAP amounts shown in the following tables should not be considered as substitutes for results reported in accordance with GAAP but should be viewed in addition to the Company’s reported results prepared in accordance with GAAP.

Adjusted EBITDA* - Adjusted EBITDA* is a non-GAAP measure and represents consolidated income before interest expense, net, income taxes, depreciation and amortization expense, and excludes, among other items, restructuring charges, share-based compensation expense, as well as other charges and credits. Management believes adjusted EBITDA* is useful to assess and understand normalized operating performance and trends. Adjusted EBITDA* should be considered in addition to, but not as a substitute for consolidated net income and should be viewed in addition to the Company's reported results prepared in accordance with GAAP.

Adjusted EBITDA margin* - Adjusted EBITDA margin* is a non-GAAP measure which is calculated by dividing consolidated adjusted EBITDA* by consolidated revenues. Management believes adjusted EBITDA margin* is useful to assess and understand normalized operating performance and trends. Adjusted EBITDA margin* should be considered in addition to, but not as a substitute for consolidated net income margin and should be viewed in addition to the Company's reported results prepared in accordance with GAAP.

Adjusted Free Cash Flow* - Adjusted Free Cash Flow* is a non-GAAP measure and represents cash flows provided by (used in) operating activities, less capital expenditures plus proceeds from the disposition of assets. Management believes adjusted free cash flow* is useful to understand our performance at generating cash and demonstrates our discipline around the use of cash. Adjusted free cash flow* should be considered in addition to, but not as a substitute for cash flows provided by operating activities and should be viewed in addition to the Company's reported results prepared in accordance with GAAP.

Net Debt* - Net Debt* is a non-GAAP measure that is calculated taking short and long-term debt less cash and cash equivalents and restricted cash. Management believes the net debt* is useful to assess the level of debt in excess of cash and cash and equivalents as we monitor our ability to repay and service our debt. Net debt* should be considered in addition to, but not as a substitute for overall debt and total cash and should be viewed in addition to the Company’s results prepared in accordance with GAAP.​

Net Leverage* - Net Leverage* is a non-GAAP measure which is calculated by taking net debt* divided by adjusted EBITDA* for the trailing 12 months. Management believes the net leverage* is useful to understand our ability to repay and service our debt. Net leverage* should be considered in addition to, but not as a substitute for the individual components of above defined net debt* divided by consolidated net income attributable to Weatherford and should be viewed in addition to the Company’s reported results prepared in accordance with GAAP.

*Non-GAAP - as defined above and reconciled to the GAAP measures in the section titled GAAP to Non-GAAP Financial Measures Reconciled

Weatherford International plcGAAP to Non-GAAP Financial Measures Reconciled (Unaudited)              Three Months Ended Six Months Ended($ in Millions, Except Margin in Percentages) June 30,
2026 March 31,
2026 June 30,
2025 June 30,
2026 June 30,
2025Revenues $1,105  $1,152  $1,204  $2,257  $2,397 Net Income Attributable to Weatherford $39  $108  $136  $147  $212 Net Income Margin  3.5%  9.4%  11.3%  6.5%  8.8%Adjusted EBITDA* $223  $233  $254  $456  $507 Adjusted EBITDA Margin*  20.2%  20.2%  21.1%  20.2%  21.2%           Net Income Attributable to Weatherford $39  $108  $136  $147  $212 Net Income Attributable to Noncontrolling Interests  3   1   9   4   19 Income Tax Provision (Benefit)  33   (4)  46   29   56 Interest Expense, Net of Interest Income of $11, $10, $14, $21, and $25  16   17   21   33   47 Other Expense, Net  16   1   25   17   45 Operating Income  107   123   237   230   379 Depreciation and Amortization  71   70   64   141   126 Other Charges Credits, Net[1]  25   15   3   40   16 Gain on Sale of Business  —   —   (70)  —   (70)Restructuring Charges  9   13   11   22   40 Share-Based Compensation  11   12   9   23   16 Adjusted EBITDA* $223  $233  $254  $456  $507            Net Cash Provided By Operating Activities $175  $136  $128  $311  $270 Capital Expenditures for Property, Plant and Equipment  (42)  (54)  (54)  (96)  (131)Proceeds from Disposition of Assets  6   3   5   9   6 Adjusted Free Cash Flow* $139  $85  $79  $224  $145                      [1]Other Charges, Net in the three and six months ended June 30, 2026 primarily includes redomestication and mergers and acquisitions. Other Charges, Net in the three and six months ended June 30, 2025 primarily includes fees to third-party financial institutions related to collections of certain receivables from our largest customer in Mexico and other miscellaneous charges and credits.  *Non-GAAP - as reconciled to the GAAP measures above and defined in the section titled Non-GAAP Financial Measures Defined

Weatherford International plcGAAP to Non-GAAP Financial Measures Reconciled Continued (Unaudited)            ($ in Millions) June 30, 2026 March 31, 2026 June 30, 2025 Current Portion of Long-term Debt $30 $31 $26 Long-term Debt  1,450  1,453  1,565 Total Debt $1,480 $1,484 $1,591         Cash and Cash Equivalents $1,100 $1,012 $943 Restricted Cash  37  38  60 Total Cash $1,137 $1,050 $1,003         Components of Net Debt       Current Portion of Long-term Debt $30 $31 $26 Long-term Debt  1,450  1,453  1,565 Less: Cash and Cash Equivalents  1,100  1,012  943 Less: Restricted Cash  37  38  60 Net Debt* $343 $434 $588         Net Income for trailing 12 months $366 $463 $481 Adjusted EBITDA* for trailing 12 months $1,016 $1,047 $1,188         Net Leverage* (Net Debt*/Adjusted EBITDA*)  0.34x 0.41x 0.49x *Non-GAAP - as reconciled to the GAAP measures above and defined in the section titled Non-GAAP Financial Measures Defined

July 13, 2026 17:48 ET  | Source: Weatherford International, LLC

HOUSTON, July 13, 2026 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced that it will hold Special Shareholder Meetings on September 3, 2026, to consider the Company's proposed redomestication from Ireland to Delaware. The definitive proxy statement for the meetings was filed with the U.S. Securities and Exchange Commission today and is being distributed to all shareholders.

The Weatherford Board of Directors unanimously recommends that shareholders vote FOR all proposals related to the proposed redomestication, which the Board believes will simplify the Company's organizational, statutory and regulatory structure while creating a more appropriate corporate framework to support Weatherford's long-term strategy. The expected financial benefits for Weatherford are estimated to be approximately $20 million to $30 million in annual cash savings beginning in 2027 if the redomestication and related corporate restructuring is completed in 2026. The Company views the redomestication transactions as a significant pillar in its continued improvement in adjusted free cash flow conversion.

Shareholders are reminded that new voting instructions are required for this meeting. Any votes submitted in connection with the Company's June 11, 2026, shareholder meetings will not be counted for the September 3 meetings.

To ensure your shares are voted, shareholders must complete and submit BOTH proxy cards, one for the Scheme Meeting and one for the Extraordinary General Meeting. Approval of the proposed redomestication requires shareholder approval at both meetings.

The definitive proxy statement contains important information regarding the proposed redomestication, voting procedures, and the proposals to be considered. Shareholders are encouraged to review the proxy materials carefully and vote as soon as possible.

Shareholders requiring assistance with voting their shares should contact Weatherford's proxy solicitor, Innisfree M&A Incorporated:

Shareholders may call (toll-free) (877) 750-8226Banks and brokers may call (212) 750-5833 Additional information, including the definitive proxy statement, is available through the SEC and the Company's investor relations website.

About Weatherford

Weatherford is a global energy services company that helps customers drill smarter, complete wells more effectively, and maximize production across the entire well lifecycle. With a differentiated portfolio of market-leading solutions, integrated technologies, and a broad global customer footprint across six continents, we blend advanced engineering, digital intelligence, and world-class field expertise to reduce risk, improve performance, and maximize the value of customer assets. Together, we elevate every operation, delivering stronger wells, sharper decisions, and better energy for the world. Visit weatherford.com for more information and connect with us on social media.

Forward-Looking Statements
This release, as well as other statements we make, include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that are not historical facts, including statements about Weatherford’s beliefs, plans, estimates, or expectations, are forward-looking statements. Forward-looking statements often use words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “plan,” “potential,” “should,” “target,” “will,” and other words of similar meaning. Such forward-looking statements include, but are not limited to, statements regarding the redomestication, that include, among other things, the anticipated timing and benefits of the redomestication, including the realization of additional cost savings and operational efficiencies, and statements relating to future financial performance and results and goals. These statements are based on current beliefs, plans, estimates, and expectations, all of which involve risk and uncertainty. Actual results may differ materially from those included in such forward-looking statements and therefore you should not place undue reliance on them.

The factors that could cause actual results to differ materially from current expectations include, but are not limited to, our ability to receive, in a timely manner and on satisfactory terms, required shareholder and court approval, and to satisfy the other conditions to the redomestication within the expected timeframe or at all; our ability to realize the expected benefits from the redomestication; the occurrence of difficulties in connection with the redomestication, including any costs related thereto; the risk that the redomestication disrupts current plans and operations; any changes in tax laws, tax treaties or tax regulations or the interpretation or enforcement thereof by the tax authorities in Ireland, the United States and other jurisdictions following the redomestication; and the future financial performance of Weatherford following the redomestication.

The foregoing factors are in addition to those other risks, uncertainties, and factors included in the “Risk Factors” section and elsewhere in Weatherford’s reports filed with the SEC, including annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, the proxy statement for the meetings, and other documents filed with the SEC. There may be other risks and uncertainties that we are not currently aware of or are unable to predict and which may also affect Weatherford’s forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. The forward-looking statements made in this communication are made only as of the date hereof or as of the dates indicated in the forward-looking statements and Weatherford undertakes no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

Additional Information and Where to Find It
In connection with the Redomestication, Weatherford filed a definitive proxy statement with the SEC on July 13, 2026. Weatherford may also file other relevant documents with the SEC regarding the Redomestication. The definitive proxy statement is being mailed to shareholders of Weatherford. This communication is not a substitute for any proxy statement or any other document that is or may be filed with the SEC or sent to Weatherford’s shareholders in connection with the Redomestication.

INVESTORS AND SECURITY HOLDERS OF WEATHERFORD ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT WEATHERFORD AND THE REDOMESTICATION AND RELATED MATTERS.

Investors and security holders are and will be able to obtain free copies of the definitive proxy statement and other documents containing important information about Weatherford and the Redomestication through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by Weatherford are available free of charge on Weatherford’s website at www.weatherford.com.

Participants in the Solicitation
Weatherford and its directors, executive officers and other members of management and employees may, under the rules of the SEC, be deemed to be participants in the solicitation of proxies from Weatherford’s shareholders in connection with the Redomestication. Information about the directors and executive officers of Weatherford and their ownership of Weatherford’s securities is set forth in the definitive proxy statement relating to the Redomestication, which was filed with the SEC on July 13, 2026 https://www.sec.gov/Archives/edgar/data/1603923/000119312526302022/d136463ddef14a.htm. You may obtain free copies of these documents using the sources indicated above.

For Investors:

Luke Lemoine
Weatherford Investor Relations
+1 713-836-7777
[email protected]

For Media:
Kelley Hughes
Weatherford Communications, Marketing and Sustainability
[email protected]

Investors interested in stocks from the Oil and Gas - Field Services sector have probably already heard of Weatherford (WFRD - Free Report) and Archrock Inc. (AROC - Free Report) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.

There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.

Weatherford has a Zacks Rank of #2 (Buy), while Archrock Inc. has a Zacks Rank of #3 (Hold) right now. The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that WFRD has an improving earnings outlook. But this is just one factor that value investors are interested in.

Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.

Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.

WFRD currently has a forward P/E ratio of 13.54, while AROC has a forward P/E of 19.33. We also note that WFRD has a PEG ratio of 0.74. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. AROC currently has a PEG ratio of 1.61.

Another notable valuation metric for WFRD is its P/B ratio of 3.39. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, AROC has a P/B of 4.25.

These metrics, and several others, help WFRD earn a Value grade of A, while AROC has been given a Value grade of C.

WFRD sticks out from AROC in both our Zacks Rank and Style Scores models, so value investors will likely feel that WFRD is the better option right now.

June 19, 2026 16:30 ET  | Source: Weatherford International, LLC

HOUSTON, June 19, 2026 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) will host a conference call on Wednesday, July 22, 2026 to discuss the Company’s results for the second quarter ended June 30, 2026.

The conference call will begin at 8:30 a.m. Eastern Time (7:30 a.m. Central Time). Prior to the conference call, the Company will issue a press release announcing the results and the associated presentation slides will be uploaded to the investor relations section of the Weatherford website.

Listeners can participate in the conference call via a live webcast. Alternatively, the conference call can be accessed by registering in advance (which will provide a PIN for immediate access) or by dialing +1 877-328-5344 (within the U.S.) or +1 412-902-6762 (outside of the U.S.) and asking for the Weatherford conference call. Participants should log in or dial in approximately 10 minutes prior to the start of the call.

A telephonic replay of the conference call will be available until August 05, 2026, at 5:00 p.m. Eastern Time. To access the replay, please dial +1 855-669-9658 (within the U.S.) or +1 412-317-0088 (outside of the U.S.) and reference conference number 2958915.

About Weatherford

Weatherford is a global energy services company that helps customers drill smarter, complete wells more effectively, and maximize production across the entire well lifecycle. With a differentiated portfolio of market-leading solutions, integrated technologies, and a broad global customer footprint across six continents, we blend advanced engineering, digital intelligence, and world-class field expertise to reduce risk, improve performance, and maximize the value of customer assets. Together, we elevate every operation, delivering stronger wells, sharper decisions, and better energy for the world. Visit weatherford.com for more information and connect with us on social media.

Contact:

Luke Lemoine
Weatherford Investor Relations
+1 713-836-7777
[email protected]

Key Takeaways WFRD to report Q1 2026 April 22, with consensus EPS at $1.02 and revenue at $1.14B.WFRD's Q1 EPS estimate was revised down in the past seven days and is 0.97% below the year-ago figure.WFRD may see support from March WTI at $91.38, aiding demand for pressure, production and interventions. Weatherford International plc (WFRD - Free Report) is set to report first-quarter 2026 results on April 22, before the opening bell.

In the last reported quarter, its earnings of $1.91 per share beat the Zacks Consensus Estimate of $1.42. The company’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, while missing the same once, delivering an average surprise of 35.1%. This is depicted in the graph below:

Estimate Trend for WFRDThe Zacks Consensus Estimate for first-quarter earnings per share of $1.02 has been revised downward over the past seven days. The estimated figure indicates a 0.97% decline from the prior-year reported number.

The Zacks Consensus Estimate for revenues of $1.14 billion implies a 4.6% decrease from the year-ago recorded figure.

Factors to Consider for WFRDTo have an idea of how oil prices behaved in the March quarter, let's analyze the commodity prices from the data provided by the U.S. Energy Information Administration (“EIA”). The average Cushing, OK, WTI spot prices for January, February and March of this year were $60.04 per barrel, $64.51 per barrel and $91.38 per barrel, respectively, per EIA data. The crude pricing environment was quite favorable for exploration and production activities, especially in the last month of the quarter. Thus, WFRD is likely to have witnessed favorable demand for its services such as managing pressure wells, production and interventions, and others.

Earnings WhispersOur proven model does not indicate an earnings beat for WFRD this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. That is not the case here, as you will see below.

Earnings ESP: WFRD has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.

Zacks Rank: WFRD currently carries a Zacks Rank #3.

Stocks to ConsiderHere are some stocks that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.

Patterson-UTI Energy (PTEN - Free Report) : It has an Earnings ESP of +11.11% and a Zacks Rank #1. Patterson-UTI Energy is scheduled to release earnings on April 22.

You can see the complete list of today’s Zacks #1 Rank stocks here.

Patterson-UTI Energy beat the Zacks Consensus Estimate for earnings in three of the last four quarters and missed in the other, with the average being 43%. The company has witnessed an upward movement for the first-quarter 2026 bottom line in the past 60 days.

ConocoPhillips (COP - Free Report) has an Earnings ESP of +9.91% and a Zacks Rank #1. ConocoPhillips is scheduled to release earnings on April 30.

The Zacks Consensus Estimate for COP’s first-quarter 2026 earnings is pegged at $1.68 per share, suggesting a decline from the prior-year reported figure.

Valero Energy (VLO - Free Report) has an Earnings ESP of +3.48% and a Zacks Rank #3. Valero Energy is scheduled to release earnings on April 30.

The Zacks Consensus Estimate for VLO’s earnings is pegged at $3.14 per share, suggesting a 252.8% increase from the prior-year reported figure.

Weatherford (WFRD - Free Report) came out with quarterly earnings of $1.49 per share, beating the Zacks Consensus Estimate of $1.02 per share. This compares to earnings of $1.03 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +46.08%. A quarter ago, it was expected that this oilfield service company would post earnings of $1.42 per share when it actually produced earnings of $1.91, delivering a surprise of +34.51%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Weatherford, which belongs to the Zacks Oil and Gas - Field Services industry, posted revenues of $1.15 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 1.20%. This compares to year-ago revenues of $1.19 billion. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Weatherford shares have added about 27.9% since the beginning of the year versus the S&P 500's gain of 3.9%.

What's Next for Weatherford?While Weatherford has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Weatherford was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.05 on $1.16 billion in revenues for the coming quarter and $5.64 on $4.8 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Field Services is currently in the top 16% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Helix Energy (HLX - Free Report) , is yet to report results for the quarter ended March 2026. The results are expected to be released on April 22.

This offshore oil and gas services contractor is expected to post quarterly loss of $0.09 per share in its upcoming report, which represents a year-over-year change of -550%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Helix Energy's revenues are expected to be $265.92 million, down 4.4% from the year-ago quarter.

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May 05, 2026 08:30 ET  | Source: Weatherford International, LLC

HOUSTON, May 05, 2026 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced it has been awarded multiple managed pressure drilling (“MPD”) contracts and a global aftermarket agreement with Noble Corporation (“Noble”), further strengthening the long-standing relationship between the two companies and reinforcing Weatherford’s leadership in MPD systems and lifecycle support.

The awards include the delivery of two deepwater managed pressure drilling systems to support Noble’s Guyana operations, with delivery expected before year-end. Weatherford is also executing an upgrade on a third-party MPD system that is being assembled and configured at the Company’s Managed Pressure Wells Center of Excellence in Houston with deployment to Nigeria expected in the third quarter. In addition, Weatherford and Noble have entered into a global aftermarket agreement covering MPD systems across Noble’s fleet, providing standardized lifecycle support, parts, and services to enhance operational reliability worldwide.

Girish Saligram, Weatherford’s President and Chief Executive Officer, commented, “These awards reflect both the strength of our partnership with Noble and the value our managed pressure drilling technology delivers in complex offshore environments. Our MPD systems are designed to provide precise pressure control, enhance safety, and improve drilling efficiency, and our global manufacturing and aftermarket capabilities ensure consistent performance throughout the asset lifecycle. We are proud to support Noble with technologies and services that help drive reliable execution across their global operations.”

Joey Kawaja, Noble’s Senior Vice President of Operations, commented, “Managed pressure drilling plays a critical role in enabling safe and efficient execution in some of the world’s most complex offshore environments. Weatherford has been a trusted partner to Noble for many years, and these awards reinforce our confidence in their MPD technology, operational expertise, and global support capabilities. The addition of new systems further strengthens our ability to deliver top-tier performance across our fleet and support our customers worldwide.”

Weatherford’s MPD solutions deliver precise wellbore pressure control to support drilling performance in complex and high-pressure environments while improving safety and reducing non-productive time. Combined with the Company’s global Centers of Excellence and aftermarket infrastructure, Weatherford provides customers with consistent quality, responsiveness, and long-term asset value.

About Weatherford
Weatherford is a global energy services company that helps customers drill smarter, complete wells more effectively, and maximize production across the entire well lifecycle. With a differentiated portfolio of market-leading solutions, integrated technologies, and a broad global customer footprint across six continents, we blend advanced engineering, digital intelligence, and world-class field expertise to reduce risk, improve performance, and maximize the value of customer assets. Together, we elevate every operation, delivering stronger wells, sharper decisions, and better energy for the world. Visit weatherford.com for more information and connect with us on social media.

For Investors:
Luke Lemoine
Weatherford Investor Relations
+1 713-836-7777
[email protected]

For Media:
Kelley Hughes
Weatherford Corporate Communications, Marketing & Sustainability
[email protected]

May 07, 2026 08:30 ET  | Source: Weatherford International, LLC

HOUSTON, May 07, 2026 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced that it has been selected by Ventura Offshore Holding Ltd (“Ventura Offshore”) to provide a complete managed pressure drilling (“MPD”) solution for the SSV Victoria offshore drilling rig in Brazil.

As part of the award, Weatherford will deliver its G3 Integrated Riser Joint (“IRJ”) MPD system, along with turnkey rig preparation, system integration, and a long‑term aftermarket maintenance services package for offshore operations in Brazil’s Búzios Field. The single, OEM‑led scope enables seamless execution from system delivery and installation through long‑term operation, while the aftermarket services support predictable costs, high efficiency, and system reliability over the life of the contract.

Weatherford’s MPD IRJ technology enhances safety, performance, and uptime in deepwater wells with tight pressure windows and is the most widely deployed MPD solution in Brazil, supported by proven offshore experience and strong local teams providing engineering, maintenance, and field support. Global engineering and configuration support is delivered through Weatherford’s Managed Pressure Wells Center of Excellence in Houston, Texas.

Girish Saligram, Weatherford’s President and Chief Executive Officer, commented, “We appreciate Ventura Offshore’s confidence in Weatherford and the opportunity to support the SSV Victoria as it prepares for offshore operations in Brazil. This award underscores our shared focus on reliable execution, leveraging our proven MPD experience in offshore Brazil and the strength of our local teams to deliver safe, efficient, and consistent performance alongside Ventura Offshore.”

Guilherme Coelho, CEO of Ventura Offshore, commented, “An integrated MPD solution is key to safe, predictable, and high-performance operations on SSV Victoria. Weatherford’s end-to-end scope and strong track record in Brazil align well with our focus on reducing interfaces and operational risk. We look forward to working together to enhance the operational capabilities of the SSV Victoria and deliver consistent results for our client.”

This award represents new work for Weatherford and reinforces the Company’s position as a trusted MPD partner in Brazil’s offshore market, leveraging proven technology, local expertise, and integrated execution capabilities to support complex deepwater operations.

About Weatherford
Weatherford is a global energy services company that helps customers drill smarter, complete wells more effectively, and maximize production across the entire well lifecycle. With a differentiated portfolio of market-leading solutions, integrated technologies, and a broad global customer footprint across six continents, we blend advanced engineering, digital intelligence, and world-class field expertise to reduce risk, improve performance, and maximize the value of customer assets. Together, we elevate every operation, delivering stronger wells, sharper decisions, and better energy for the world. Visit weatherford.com for more information and connect with us on social media.

About Ventura Offshore Holding Ltd.
Ventura Offshore Holding Ltd. is a deep-water drilling contractor providing offshore drilling services to the oil and gas industry since 1998 in Brazil and worldwide. The Company owns and operates one drillship, DS Carolina, and two semisubmersible drilling rigs, SSV Victoria and SSV Catarina, and further manages one drillship, Atlantic Zonda. The drilling rigs are currently operating offshore Brazil and Indonesia. The Company is incorporated under the laws of Bermuda and was listed on Euronext Growth Oslo on June 5, 2024, under the ticker “VTURA.” Additional information about Ventura Offshore Holding can be found at https://ventura-offshore.com/en/a-ventura/

For Investors:
Luke Lemoine
Weatherford Investor Relations
+1 713-836-7777
[email protected]

For Media:
Kelley Hughes
Weatherford Corporate Communications, Marketing & Sustainability
[email protected]

May 14, 2026 16:30 ET  | Source: Weatherford International, LLC

HOUSTON, May 14, 2026 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) announced today the release of the 2025 Sustainability Report, reflecting continued sustainability progress and highlighting the impact of efforts across operations.

Girish Saligram, Weatherford’s President and Chief Executive Officer, commented, “At Weatherford, sustainability continues to be an important factor in how we operate, innovate, and deliver value to our customers. Over the past year, we have built on our progress, strengthening our approach and advancing initiatives that support long-term performance. As the global landscape continues to shift, we remain focused on driving meaningful impact and working alongside our customers to help shape the future of the industry.”

We invite you to explore the 2025 Sustainability Report at weatherford.com/sustainability.   

About Weatherford

Weatherford is a global energy services company that helps customers drill smarter, complete wells more effectively, and maximize production across the entire well lifecycle. With a differentiated portfolio of market-leading solutions, integrated technologies, and a broad global customer footprint across six continents, we blend advanced engineering, digital intelligence, and world-class field expertise to reduce risk, improve performance, and maximize the value of customer assets. Together, we elevate every operation, delivering stronger wells, sharper decisions, and better energy for the world. Visit weatherford.com for more information and connect with us on social media.

For Investors:
Luke Lemoine
Weatherford Investor Relations
+1 713-836-7777
[email protected]

For Media:
Kelley Hughes
Senior Director, Communications, Marketing & Sustainability
[email protected]

May 21, 2026 08:30 ET  | Source: Weatherford International, LLC

HOUSTON, May 21, 2026 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced it has been awarded a deepwater integrated completions contract by Esso Exploration & Production Nigeria Ltd. (“EEPNL”), an ExxonMobil affiliate, for offshore Nigeria.

The contract falls within Weatherford’s Well Construction and Completions portfolio. Weatherford will provide integrated upper and lower completions solutions for deepwater wells, with a scope focused on supporting safety, reliability, well integrity, and operational efficiency over the lifecycle of the well.

The integrated completions equipment will be configured and prepared through Weatherford’s global supply chain and supported locally in Nigeria, in line with contract terms, to enable in-country execution and service delivery.

Girish Saligram, Weatherford’s President and Chief Executive Officer, commented, “This contract reflects our ability to deliver integrated completions solutions for deepwater operations. We will provide technologies designed to support well integrity, reliability, and efficient execution in complex offshore environments.”

About Weatherford

Weatherford is a global energy services company that helps customers drill smarter, complete wells more effectively, and maximize production across the entire well lifecycle. With a differentiated portfolio of market-leading solutions, integrated technologies, and a broad global customer footprint across six continents, we blend advanced engineering, digital intelligence, and world-class field expertise to reduce risk, improve performance, and maximize the value of customer assets. Together, we elevate every operation, delivering stronger wells, sharper decisions, and better energy for the world. Visit weatherford.com for more information and connect with us on social media.

For Investors:
Luke Lemoine
Weatherford Investor Relations
+1 713-836-7777
[email protected]

For Media:
Kelley Hughes
Weatherford Corporate Communications, Marketing & Sustainability
[email protected]

HOUSTON, June 01, 2026 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) and NCS Multistage Holdings, Inc. (NASDAQ: NCSM) (“NCS Multistage”) today announced that Weatherford has entered into a definitive agreement to acquire NCS Multistage. Under the terms of the agreement, NCS Multistage stockholders have an election to receive either Weatherford common stock or a combination of Weatherford common stock and cash. On a blended basis, this is expected to be the equivalent of 0.463 shares of Weatherford common stock for each NCS Multistage share with up to 19.99% of this payable in cash. Annual cost synergies are expected to be at least $15 million and be realized within 18 months of closing. The deal is expected to be immediately accretive to adjusted Free Cash Flow per share.

NCS Multistage brings a complementary technology portfolio aimed at supporting the optimization of oil and gas well completions and field development strategies. Its solutions are designed to enhance reliability and performance in complex well environments and are widely recognized for engineering rigor and capital-efficient deployment.

Compelling Strategic Benefits
The acquisition is expected to complement and enhance Weatherford’s portfolio by:

Expanding offerings in the well completions segment, while deepening Weatherford’s capabilities in the unconventional space. 
Supporting the delivery of differentiated, technology-enabled solutions that help customers improve operational and production outcomes.Providing an avenue for further growth of NCS Multistage’s portfolio by leveraging Weatherford’s international footprint. Girish Saligram, Weatherford’s President and Chief Executive Officer, commented, “The acquisition of NCS Multistage is a natural complement to our completions strategy and enhances the application fit of our well construction products portfolio. NCS Multistage's technology is expected to enhance our ability to serve customers across the completion lifecycle, from well design through production optimization and late-life interventions, while deepening our exposure to the growing unconventional resource market. We expect to realize at least $15 million in annual run-rate cost synergies over a period of 18 months. Additionally, we see a meaningful opportunity to create additional value by bringing this technology to our global customer base, and we look forward to welcoming NCS Multistage into Weatherford.”

Ryan Hummer, NCS Multistage’s Chief Executive Officer, commented, “This is a significant step for NCS Multistage that we believe positions our business—and the talented people who built it—for the next phase of growth as part of a leading global energy services company. I am proud of the company that our team at NCS Multistage has built, and it is clear from our interactions that Weatherford recognizes the strength of our technology, the quality of our operations, and the commitment of our people. This combination creates an opportunity for our products, technology, and people to reach a broader set of customers and markets faster than we could on our own, supported by Weatherford’s financial strength and international footprint, providing long-term opportunity and value for our stakeholders.”

Transaction Details and Approvals
The transaction has been approved by the Board of Directors of Weatherford, the Board of Directors of NCS Multistage, and the controlling stockholder of NCS Multistage that owns more than 50% of NCS Multistage’s outstanding common stock. The transaction is subject to certain customary closing conditions, including regulatory approvals, and is expected to close in the second half of 2026. Until the transaction closes, Weatherford and NCS Multistage will continue to operate as separate, independent companies.

Under the terms of the agreement, NCS Multistage stockholders can elect to receive either 0.554 shares of Weatherford common stock at closing, or a combination of 0.239 shares of Weatherford common stock and a cash amount equal to 0.137 shares of Weatherford common stock at closing, subject to proration and certain limitations and adjustments. On a blended basis, this is expected to be the equivalent of 0.463 shares of Weatherford common stock with up to 19.99% of the total equity consideration payable in cash.

Advisors
King & Spalding LLP is acting as legal counsel to Weatherford and Baker Botts L.L.P. is acting as legal counsel to NCS Multistage. Piper Sandler & Co. is serving as financial advisor to NCS Multistage.

About Weatherford
Weatherford is a global energy services company that helps customers drill smarter, complete wells more effectively, and maximize production across the entire well lifecycle. With a differentiated portfolio of market-leading solutions, integrated technologies, and a broad global customer footprint across six continents, we blend advanced engineering, digital intelligence, and world-class field expertise to reduce risk, improve performance, and maximize the value of customer assets. Together, we elevate every operation, delivering stronger wells, sharper decisions, and better energy for the world. Visit weatherford.com for more information and connect with us on social media.

About NCS Multistage
NCS Multistage is a leading provider of highly engineered products and support services that facilitate the optimization of oil and natural gas well construction, well completion and field development strategies. NCS Multistage provides products and services primarily to exploration and production companies for use in onshore and offshore wells, predominantly those that have been drilled with horizontal laterals in both unconventional and conventional oil and natural gas formations. NCS Multistage’s products and services are utilized in oil and natural gas basins throughout North America and in selected international markets, including the North Sea, the Middle East and Argentina. Visit ncsmultistage.com for more information.

Forward-Looking Statements
This communication includes statements, which, to the extent they are not statements of historical or present fact, constitute “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements, and any related oral statements, can be identified by the use of terms such as “believe,” “project,” “expect,” “anticipate,” “estimate,” “outlook,” “budget,” “intend,” “strategy,” “plan,” “guidance,” “may,” “should,” “could,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions, although not all forward-looking statements contain these identifying words. These statements include, but are not limited to, statements about the expected timing and completion of the proposed transaction between Weatherford and NCS Multistage, the anticipated benefits of the proposed transaction, and plans and expectations for the new combined company after the completion of the proposed transaction. Such statements are based upon the current beliefs of Weatherford’s and NCS Multistage’s management and are subject to significant risks, assumptions, and uncertainties. Should one or more of these risks or uncertainties materialize, or underlying assumptions prove incorrect, actual results may vary materially from those indicated in our forward-looking statements. Readers are cautioned that forward-looking statements are only estimates and may differ materially from actual future events or results, based on factors including but not limited to the ability to complete the proposed transaction on the timeframe or on the terms currently anticipated or at all, including due to a failure to obtain requisite regulatory approvals; risks related to difficulties, inabilities or delays in integrating the parties’ businesses; the ability to realize the anticipated benefits of the proposed transaction, including estimated synergies; the occurrence of any event, change or other circumstance that could give rise to the right of either or both parties to terminate the Merger Agreement; the potential impact of the announcement or consummation of the proposed transaction on the parties’ stock price and on their respective business, contractual and operational relationships; risks related to business disruptions from the proposed transaction that may harm the business or current plans and operations of either or both parties, including diversion of management time from ongoing business operations; the risk that the proposed transaction and its announcement could have an adverse effect on the ability of either or both parties to hire and retain key personnel; the outcome of any legal proceedings that may be instituted against Weatherford or NCS Multistage, or their respective directors; the possibility that the proposed transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events, or unforeseen or unknown liabilities; Weatherford’s ability to receive, in a timely manner and on satisfactory terms, required shareholder and court approval, and to satisfy the other conditions to the proposed redomestication within the expected timeframe or at all; our ability to realize the expected benefits from the proposed redomestication; the occurrence of difficulties in connection with the redomestication, including any costs related thereto; the risk that the proposed redomestication disrupts current plans and operations; global political, economic and market conditions, political disturbances, war or other global conflicts, terrorist attacks, public health issues such as pandemics, changes in global trade policies, tariffs and sanctions, weak local economic conditions and international currency fluctuations; general global economic repercussions related to U.S. and global inflationary pressures and potential recessionary concerns; as well as the factors and risks described in Weatherford’s Annual Report on Form 10-K for the year ended December 31, 2025 and NCS Multistage’s Annual Report on Form 10-K for the year ended December 31, 2025, and, in each case, in subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable factors not discussed in this communication could also have material adverse effects on forward-looking statements. You should not place undue reliance on any of Weatherford’s or NCS Multistage’s forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and Weatherford and NCS Multistage undertake no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law, and we caution you not to rely on them unduly.

No Offer or Solicitation
This communication is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the “Securities Act”), or in a transaction exempt from the registration requirements of the Securities Act.

Additional Information About the Transaction and Where to Find It
In connection with the proposed transaction, Weatherford intends to file a registration statement on Form S-4 (the “Form S-4”) that also constitutes a prospectus of Weatherford with respect to the shares of Weatherford to be issued in the proposed transaction (the “prospectus”) and NCS Multistage intends to file an information statement on Schedule 14C, with the Securities and Exchange Commission (the “SEC”). Each of Weatherford and NCS Multistage may also file other relevant documents with the SEC regarding the proposed transaction. This document is not a substitute for the Form S-4 or prospectus or any other document that Weatherford or NCS Multistage may file with the SEC. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, THE INFORMATION STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders will be able to obtain free copies of the Form S-4 and the information statement/prospectus (if and when available) and other documents containing important information about Weatherford, NCS Multistage and the proposed transaction, once such documents are filed with the SEC through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with, or furnished to, the SEC by Weatherford will be available free of charge on Weatherford’s website at https://weatherford.com/investor-relations/home. Copies of the documents filed with, or furnished to, the SEC by NCS Multistage will be available free of charge on NCS Multistage’s website at https://ir.ncsmultistage.com. The information included on, or accessible through, Weatherford’s or NCS Multistage’s website is not incorporated by reference into this communication.

For Investors:
Luke Lemoine
Weatherford Investor Relations
+1 713-836-7777
[email protected]

Mike Morrison
NCS Multistage Holdings Chief Financial Officer and Treasurer
+1 281-453-2222
[email protected]

For Media:
Kelley Hughes
Weatherford Corporate Communications, Marketing & Sustainability
[email protected]

HOUSTON, June 01, 2026 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) filed its definitive proxy statement (the “Proxy Statement”) with the Securities and Exchange Commission (the “SEC”) on April 21, 2026, in connection with Weatherford’s proposal to Redomesticate from Ireland to the United States of America (the “U.S.”). Capitalized terms used herein but not defined have the meanings set forth in the Proxy Statement.

As explained in the Proxy Statement, we believe that moving from Ireland back to the U.S. provides Weatherford and its shareholders with certain unique financial, operational, and other benefits. These include the following:

Financial Benefits: The Redomestication has expected financial benefits for Weatherford and its shareholders, which we estimate could result in approximately $20 million to $30 million in annual cash savings to Weatherford beginning in 2027, if the Redomestication is completed in 2026. Additionally, we view the Redomestication as fundamental to achieving our long-term goal of approximately 50% annual adjusted free cash flow conversion*;Key Value Drivers: The Redomestication is expected to enhance long-term shareholder value by simplifying our corporate structure, increasing financial and operational flexibility, broadening our U.S. shareholder and lending base, improving access to capital, enhancing cash management and administrative efficiency, and providing certain tax benefits, all of which are expected to contribute to the financial benefits discussed above;Eases M&A Process and Regulation: Moving to the U.S. will enable us to more effectively and efficiently execute merger and acquisition transactions, including to closely align with our peers with respect to the M&A and regulatory framework in the U.S. and to streamline transactions that Weatherford may pursue to enhance shareholder value;Court Approved Process: The Redomestication is being effected through a Scheme of Arrangement under Irish Law, which provides added protection to our shareholders and which must be sanctioned by the Irish High Court at a hearing where interested parties may appear (including Weatherford-Ireland shareholders) in person or by counsel;Headquarters Rationalized with Jurisdiction: We are moving our corporate jurisdiction to Texas to align with our Texas headquarters and longstanding Texas operations.
* Adjusted free cash flow conversion is a non-GAAP measure.  See Non-GAAP Financial Measure Defined below.  

Our Redomestication proposal is a move from Ireland to the U.S. and is distinct in many regards from many of the domestic state-to-state standalone reincorporations currently being presented to shareholders of other companies. We are moving from a foreign domicile back to the U.S. principally for financial, operational and other benefits. Our proposal supports Weatherford’s value and addresses its specific needs – accordingly, we ask for your support.

We were disappointed to learn that certain proxy advisory firms are recommending that our shareholders vote to keep Weatherford as an Irish domiciled company, rather than moving back to the U.S. We believe both Glass Lewis and ISS overlooked the financial, operational and other benefits of moving back to the U.S. described in our Proxy Statement and referenced herein. We encourage you to evaluate this transaction on its own merits.

Since the current management team and board of directors joined Weatherford in 2020, the company has been intensely focused on creating and delivering shareholder value. As evidence of this focus, we have significantly grown Weatherford's equity value, deleveraged the business by paying down over $1 billion in notes since Q1’24, and substantially improved our liquidity. We have also implemented a $500 million share repurchase program, initiated an annual dividend, and subsequently increased it. Building on this track record, our board of directors and management team recommend that shareholders approve the redomestication of the Company from Ireland to the U.S., which will better position us to continue advancing this focus on shareholder value.

Weatherford strongly believes the Redomestication will enhance shareholder value over the long-term and strongly encourages you to vote “FOR” each of the proposals at the shareholder meetings. Please vote today.

You can vote at proxyvote.com with your 16-digit control number. Your control number was emailed to you from [email protected]. If you can’t find your control number, or you need assistance voting your shares, you can also call our proxy solicitor, Okapi Partners, toll-free at +1 (855) 208-8902, or e-mail [email protected].

 Forward-Looking Statements
This release, as well as other statements we make, include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that are not historical facts, including statements about Weatherford’s beliefs, plans, estimates, or expectations, are forward-looking statements. Forward-looking statements often use words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “plan,” “potential,” “should,” “target,” “will,” and other words of similar meaning. Such forward-looking statements include, but are not limited to, statements regarding the Redomestication, that include, among other things, the anticipated timing and benefits of the Redomestication, including the realization of additional cost savings and operational efficiencies, and statements relating to future financial performance and results and goals. These statements are based on current beliefs, plans, estimates, and expectations, all of which involve risk and uncertainty. Actual results may differ materially from those included in such forward-looking statements and therefore you should not place undue reliance on them.

The factors that could cause actual results to differ materially from current expectations include, but are not limited to, our ability to receive, in a timely manner and on satisfactory terms, required shareholder and court approval, and to satisfy the other conditions to the Redomestication within the expected timeframe or at all; our ability to realize the expected benefits from the Redomestication; the occurrence of difficulties in connection with the Redomestication, including any costs related thereto; the risk that the Redomestication disrupts current plans and operations; any changes in tax laws, tax treaties or tax regulations or the interpretation or enforcement thereof by the tax authorities in Ireland, the United States and other jurisdictions following the Redomestication; and the future financial performance of Weatherford following the Redomestication.

The foregoing factors are in addition to those other risks, uncertainties, and factors included in the “Risk Factors” section and elsewhere in Weatherford’s reports filed with the SEC, including annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, the proxy statement described below, and other documents filed with the SEC. There may be other risks and uncertainties that we are not currently aware of or are unable to predict and which may also affect Weatherford’s forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. The forward-looking statements made in this communication are made only as of the date hereof or as of the dates indicated in the forward-looking statements and Weatherford undertakes no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

Additional Information and Where to Find It
In connection with the Redomestication, Weatherford filed a definitive proxy statement with the SEC on April 21, 2026. Weatherford may also file other relevant documents with the SEC regarding the Redomestication. The definitive proxy statement has been mailed to shareholders of Weatherford. This communication is not a substitute for any proxy statement or any other document that is or may be filed with the SEC or sent to Weatherford’s shareholders in connection with the Redomestication.

INVESTORS AND SECURITY HOLDERS OF WEATHERFORD ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT WEATHERFORD AND THE REDOMESTICATION AND RELATED MATTERS.

Investors and security holders are and will be able to obtain free copies of the definitive proxy statement and other documents containing important information about Weatherford and the Redomestication through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by Weatherford are available free of charge on Weatherford’s website at www.weatherford.com.

Participants in the Solicitation
Weatherford and its directors, executive officers and other members of management and employees may, under the rules of the SEC, be deemed to be participants in the solicitation of proxies from Weatherford’s shareholders in connection with the Redomestication. Information about the directors and executive officers of Weatherford and their ownership of Weatherford’s securities is set forth in the definitive proxy statement relating to the Redomestication https://www.sec.gov/ix?doc=/Archives/edgar/data/1603923/000119312526166847/d120523ddef14a.htm, which was filed with the SEC on April 21, 2026, including under the sections entitled “2025 Director Compensation,” “2025 Summary Compensation Table,” “Grants of Plan-Based Awards,” “Outstanding Equity Awards at December 31, 2025,” “Option Exercises and Shares Vested in 2025,” and “Share Ownership.” You may obtain free copies of these documents using the sources indicated above.

Non-GAAP Financial Measure Defined
Adjusted Free Cash Flow Conversion - Adjusted free cash flow conversion is a non-GAAP measure that is calculated by dividing adjusted free cash flow by adjusted EBITDA. Management believes adjusted free cash flow conversion is useful to assess the level of normalized liquidity generated in the operating cycle. Adjusted free cash flow conversion should be considered in addition to, but not as a substitute for the GAAP measures described above for the respective components, and should be viewed in addition to the Company’s reported results prepared in accordance with GAAP. The statement of adjusted free cash flow conversion above is a statement of Weatherford’s long-term goal, rather than a statement as to expected future performance.

About Weatherford
Weatherford is a global energy services company that helps customers drill smarter, complete wells more effectively, and maximize production across the entire well lifecycle. With a differentiated portfolio of market-leading solutions, integrated technologies, and a broad global customer footprint across six continents, we blend advanced engineering, digital intelligence, and world-class field expertise to reduce risk, improve performance, and maximize the value of customer assets. Together, we elevate every operation, delivering stronger wells, sharper decisions, and better energy for the world. Visit weatherford.com for more information and connect with us on social media.

For Investors:
Luke Lemoine
Weatherford Investor Relations
+1 713-836-7777
[email protected]

For Media:
Kelley Hughes
Weatherford Corporate Communications, Marketing & Sustainability
[email protected]

June 11, 2026 16:30 ET  | Source: Weatherford International, LLC

HOUSTON, June 11, 2026 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced the results of its shareholder meetings held on June 11, 2026, which included a Special Court-Convened Meeting in compliance with Irish law and the Company’s 2026 Annual General Meeting.

Shareholders representing approximately 89.78% of the Company’s 71,933,662 outstanding shares, cast votes at the meetings. All items related to routine matters brought before the shareholders at the Company’s annual meeting were approved, including the election of Weatherford’s directors, the ratification of the Company’s external auditor in KPMG, and other matters.

Shareholders also voted on certain non-routine proposals related to the Company’s proposed redomestication from Ireland to Texas in the U.S. at the meetings. While more than 60% of votes cast were in support of the redomestication proposals, those requiring a higher 75% approval did not receive the level of votes needed to pass.

Given the level of support for the proposed redomestication from Ireland to the U.S. and the associated value to be created thereby, the Company will continue engaging with shareholders and intends to present an updated proposal in the coming weeks to redomicile to Delaware in the U.S. at a future meeting. Further details will be announced in due course.

Girish Saligram, Weatherford’s President and Chief Executive Officer, commented, “We are encouraged by the strong shareholder engagement and the majority support we received for the redomestication proposals. While we are disappointed that we did not achieve the 75% threshold required to move forward, the conversations held as part of our shareholder interactions and the resulting support for the proposed move back to the U.S. reinforces our conviction in the value creation potential of this initiative. We remain confident that aligning our corporate structure with a U.S. domicile will better position Weatherford for long-term growth, enhanced market access, and increased shareholder value. The leadership team and our board of directors remain deeply committed to value creation and believe that the timing is right for the Company to make this move. We are hopeful and confident that the amended proposal to move to Delaware will have broad support. Further, we expect that the modest delay resulting from the transition to Delaware will not impact our employees, customers, operations or the anticipated financial or simplification outcomes for 2027 and beyond, assuming the redomestication is completed. We look forward to continuing our engagement with shareholders as we advance our path forward.”

About Weatherford
Weatherford is a global energy services company that helps customers drill smarter, complete wells more effectively, and maximize production across the entire well lifecycle. With a differentiated portfolio of market-leading solutions, integrated technologies, and a broad global customer footprint across six continents, we blend advanced engineering, digital intelligence, and world-class field expertise to reduce risk, improve performance, and maximize the value of customer assets. Together, we elevate every operation, delivering stronger wells, sharper decisions, and better energy for the world. Visit weatherford.com for more information and connect with us on social media.

Forward-Looking Statements
This release, as well as other statements we make, include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that are not historical facts, including statements about Weatherford’s beliefs, plans, estimates, or expectations, are forward-looking statements. Forward-looking statements often use words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “plan,” “potential,” “should,” “target,” “will,” and other words of similar meaning. Such forward-looking statements include, but are not limited to, statements regarding the redomestication, that include, among other things, the anticipated timing and benefits of the redomestication, including the realization of additional cost savings and operational efficiencies, and statements relating to future financial performance and results and goals. These statements are based on current beliefs, plans, estimates, and expectations, all of which involve risk and uncertainty. Actual results may differ materially from those included in such forward-looking statements and therefore you should not place undue reliance on them.

The factors that could cause actual results to differ materially from current expectations include, but are not limited to, our ability to receive, in a timely manner and on satisfactory terms, required shareholder and court approval, and to satisfy the other conditions to the redomestication within the expected timeframe or at all; our ability to realize the expected benefits from the redomestication; the occurrence of difficulties in connection with the redomestication, including any costs related thereto; the risk that the redomestication disrupts current plans and operations; any changes in tax laws, tax treaties or tax regulations or the interpretation or enforcement thereof by the tax authorities in Ireland, the United States and other jurisdictions following the redomestication; and the future financial performance of Weatherford following the redomestication.

The foregoing factors are in addition to those other risks, uncertainties, and factors included in the “Risk Factors” section and elsewhere in Weatherford’s reports filed with the SEC, including annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, the proxy statement for the meetings, and other documents filed with the SEC. There may be other risks and uncertainties that we are not currently aware of or are unable to predict and which may also affect Weatherford’s forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. The forward-looking statements made in this communication are made only as of the date hereof or as of the dates indicated in the forward-looking statements and Weatherford undertakes no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

For Investors:

Luke Lemoine
Weatherford Investor Relations
+1 713-836-7777
[email protected]

For Media:
Kelley Hughes
Weatherford Communications, Marketing and Sustainability
[email protected]