WFRD earnings analysis
What we found in WFRD's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Weatherford reported Q2 2026 revenue of $1.105 billion and diluted EPS of $0.55. Revenue was approximately 4% below Q1 2026 and 8% below Q2 2025, while EPS fell substantially from $1.49 sequentially and $1.87 a year earlier. Offsetting factors included $139 million of adjusted free cash flow, 10% Europe/Africa/Russia growth, and continued share repurchases, but management slightly reduced its full-year outlook because of Middle East disruption.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Adjusted free cash flow reached $139M
- Adjusted free cash flow was $139 million, up 64% sequentially, despite the revenue decline.
- Europe/Africa/Russia grew 10%
- Europe, Africa and Russia revenue increased 10% year over year, providing a regional offset to weaker activity elsewhere.
- Buyback capacity remains $274M
- The company repurchased 161,988 ordinary shares for an average $95.94 per share during Q2; approximately $274 million remained under the $500 million authorization at June 30, 2026.
- Revenue exceeded consensus by about $37M
- Revenue of $1.105 billion exceeded the $1.068 billion consensus estimate by approximately $37 million.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- EPS declined sharply to $0.55
- Q2 diluted EPS was $0.55, down from $1.49 in Q1 2026 and $1.87 in Q2 2025; it was also $0.35 below the $0.90 consensus estimate.
- Revenue declined sequentially and year over year
- Revenue fell to $1.105 billion from $1.150 billion in Q1 2026 and $1.200 billion in Q2 2025, declines of approximately 4% sequentially and 8% year over year.
- Middle East disruption lowered outlook
- Management slightly reduced its 2026 outlook due to Middle East disruption, despite expecting a second-half margin-contribution ramp versus the first half.
- No new 10-Q risk-factor changes
- The company reported no material change in its risk-factor assessment as of June 30, 2026, but incorporated risks described in its July 13, 2026 proxy statement and July 17, 2026 amended Form S-4.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.55
- Segment
- Europe, Africa and Russia revenue increased 10% year over year.
What they said about what is next.
Management said its full-year 2026 outlook was “slightly reduced” because of Middle East disruption, while expecting a significant second-half margin-contribution ramp versus the first half. The 10-Q did not provide numeric revenue or EPS guidance.
The filing reads about the same as the one before it.
What came before.
- 10-Q · April 22, 2026
- Weatherford reported Q1 2026 revenue of $1,152.0 million and diluted EPS of $1.49. Revenue and margins were down modestly versus Q1 2025, but profitability (EPS) and cash generation remained solid with operating cash…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
Read the next one first.
We read every filing WFRD makes the day it lands, and put it next to what the options market did about it. Members get both, and an alert when a filing arrives.
Cancel anytime · Month to month · Switch tiers whenever