Weatherford Reports Third Quarter 2015 Results

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Go back to Weatherford Reports Third Quarter 2015 Results

Weatherford (WFT) Tops Q3 EPS by 4c, Offers Outlook

October 21, 2015 4:41 PM EDT

Weatherford (NYSE: WFT) reported Q3 EPS of ($0.05), $0.04 better than the analyst estimate of ($0.09). Revenue for the quarter came in at $2.24 billion versus the consensus estimate of $2.34 billion.

Outlook

We expect positive free cash flow in the fourth quarter and for the full year driven by further reductions in working capital balances, and continued discipline on capital expenditure spending. The full year forecast for capital expenditures has now been further revised downwards by another $100 million to $650 million, which is 55% lower than 2014 levels.

We successfully completed all of the previously announced headcount reduction of... More