Q1 2025 Weatherford International PLC Earnings Call Transcript
Key Points
- Weatherford International PLC (WFRD) reported adjusted free cash flow of $66 million for the first quarter, demonstrating strong collections and financial discipline.
- The company achieved adjusted EBITDA margins of 21.2% despite lower revenues, indicating effective cost management.
- Weatherford International PLC (WFRD) has successfully paid three quarterly dividends of $0.25 per share and repurchased approximately $152 million worth of shares over the past three quarters.
- The company reported year-on-year growth in the Middle East and Asia regions, showcasing resilience and stability in these markets.
- Weatherford International PLC (WFRD) continues to win high-impact contracts across key regions, demonstrating the strength of its technology and customer trust.
- Activity levels in key segments and geographies, such as Mexico and North America, have softened, impacting overall performance.
- The company expects a significant decline in Mexico's activity, down around 60% year-on-year, which is worse than previously anticipated.
- North America revenues are expected to decline high single to mid-double digits year-on-year, reflecting a challenging market environment.
- Recent US tariffs and retaliatory tariffs have added significant uncertainty to the market, potentially causing demand destruction in the short to mid-term.
- Weatherford International PLC (WFRD) has reduced its headcount by over 1,000 and annualized personnel expenses by over $100 million, indicating cost-cutting measures in response to market conditions.
Good day and welcome to the Weatherford first quarter 2025 results conference call.
(Operator Instructions) Please note this event is being recorded.
I would now like to turn the conference over to Mr. Luke Lemoine. Please go ahead, sir.
Welcome everyone to the Weatherford International first quarter 2025 earnings conference call. I'm joined today by Girish Saligram, President and CEO; and Anuj Dhruv, Executive Vice President, and CFO.
We'll start today with our prepared remarks and then open it up for questions. You may download a copy of the presentation slides corresponding to today's call from our website's Investor Relations section.
I want to remind everyone that some of today's comments include forward-looking statements. These statements are subject to many risk and uncertainties. They could cause our actual results to differ materially from any expectation expressed herein.
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