Weatherford Intl., Ltd. (WFT) Posts Surprise Q1 Loss

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Go back to Weatherford Intl., Ltd. (WFT) Posts Surprise Q1 Loss

Weatherford Reports First Quarter 2015 Results

April 22, 2015 6:51 PM EDT

BAAR, Switzerland, April 22, 2015 /PRNewswire/ -- Weatherford International plc (NYSE: WFT) reported a net loss before charges of $33 million ($0.04 net loss per share non-GAAP) on revenues of $2.79 billion for the first quarter of 2015.

First Quarter 2015 Highlights

International operating income margins improved 120 basis points sequentially, led by Latin America and the Middle East/North Africa/Asia Pacific region; Free cash flow improved $426 million over the first quarter of 2014 and capital expenditures of $224 million ($194 million net of lost-in-hole) remain in line with our reduced full-year guidance; As of March 31,... More