Jefferies Tweaks Weatherford (WFT) PT Down to $9

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Go back to Jefferies Tweaks Weatherford (WFT) PT Down to $9

Weatherford Reports First Quarter 2016 Results

May 4, 2016 5:45 PM EDT

BAAR, Switzerland, May 4, 2016 /PRNewswire/ -- Weatherford International plc (NYSE: WFT) reported a net loss before charges and credits of $239 million ($0.29 net loss per share before charges) on revenues of $1.59 billion for the first quarter of 2016. GAAP net loss for the first quarter of 2016 was $498 million, or a net loss of $0.61 per share.

First Quarter 2016 Highlights

The Company completed negotiations to refinance our existing revolving credit facility into a consolidated $1.651 billion package, to be made up of a new 3-year $1.151 billion revolving credit facility and a new 4-year... More