Weatherford International plc announced its financial results for the third quarter ended September 30, 2026, reporting a revenue of $1.143 billion. This figure represents a 3% increase from the previous quarter and a 7% decrease compared to the same period in the prior year.

Operating income for the quarter was $153 million, a sequential increase of 43% and a year-over-year decrease of 14%. The company reported net income of $120 million, with a net income margin of 10.5%. This profit represents a 208% increase from the previous quarter and a 48% increase year-over-year.

On a per-share basis, Weatherford reported basic and diluted income per share of $1.66 for the quarter, marking a 200% sequential increase and a 47% year-over-year increase.

Weatherford also reported adjusted EBITDA of $254 million, with a margin of 22.2%, an increase of 14% sequentially. Cash provided by operating activities was $192 million, and adjusted free cash flow was $155 million. Capital expenditures for the quarter totaled $45 million.

In terms of shareholder returns, Weatherford paid $19 million in dividends and repurchased $28 million in shares, resulting in a total shareholder return of $47 million for the quarter. The company also declared a cash dividend of $0.275 per share, payable on December 3, 2026.

Strategically, Weatherford completed the acquisition of NCS Multistage Holdings, Inc. in a stock-and-cash transaction. Additionally, the company issued a notice to redeem $236 million in principal amount of its 8.625% Senior Notes due 2030, expected to reduce annualized cash interest expense by approximately $20 million.

Shareholders approved the company’s redomestication to Delaware, a move expected to generate $20 million to $30 million in annual cash savings beginning in 2027. Credit ratings were updated by Fitch Ratings and S&P Global Ratings to a 'Positive Outlook' from 'Stable Outlook', while Moody’s affirmed its 'Ba2' rating with a 'Positive Outlook'.

Weatherford also secured several new contracts during the quarter, including a two-year extension and new offshore completions awards from Equinor for the Statfjord and Oseberg licenses, a 46-unit contract for Progressive Cavity Pumping systems in Venezuela, and a contract to supply MPD equipment for a drillship offshore Indonesia.