Weatherford International plc Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 06, 2024 at 04:35 pm EST
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Weatherford International plc reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 1,362 million compared to USD 1,209 million a year ago. Revenue was USD 1,362 million compared to USD 1,209 million a year ago. Net income was USD 140 million compared to USD 72 million a year ago. Basic earnings per share from continuing operations was USD 1.94 compared to USD 1.01 a year ago. Diluted earnings per share from continuing operations was USD 1.9 compared to USD 0.99 a year ago.
For the full year, sales was USD 5,135 million compared to USD 4,331 million a year ago. Revenue was USD 5,135 million compared to USD 4,331 million a year ago. Net income was USD 417 million compared to USD 26 million a year ago. Basic earnings per share from continuing operations was USD 5.79 compared to USD 0.37 a year ago. Diluted earnings per share from continuing operations was USD 5.66 compared to USD 0.36 a year ago.
Weatherford International plc is a global energy services company. It provides equipment and services used in the drilling, evaluation, well construction, completion, production, intervention, and responsible abandonment of wells in the oil and natural gas exploration and production industry as well as new energy platforms. It operates through three segments: Drilling and Evaluation (DRE), Well Construction and Completions (WCC), and Production and Intervention (PRI). DRE offers a suite of services, including managed pressure drilling, drilling services, wireline, and drilling fluids. WCC offers products and services for well integrity assurance across the full life cycle of the well. It offers tubular running services, cementation products, completions, liner hangers, and well services. PRI offers production optimization technologies. Its offerings are intervention services and drilling tools, artificial lift, digital solutions, sub-sea intervention, and pressure pumping services.
WEATHERFORD INTERNATIONAL PLC 
