Weatherford International Net Income Jumps 42% to $108M in Q1 2026

Weatherford International plc, an oilfield services provider, posted net income of $108 million for the three months ending March 31, 2026, up 42% from $76 million in the same period a year earlier. Earnings per diluted share rose to $1.49 from $1.03. Read more earnings reports.

Operating income for the quarter fell 13% to $123 million from $142 million in Q1 2025. The company recorded a $4 million income tax benefit in the current quarter, reversing from a $10 million tax expense in the prior-year period.

Selling, general and administrative expenses increased to $168 million from $161 million, while research and development spending declined to $21 million from $29 million. Cost of goods sold rose to $476 million from $464 million year-over-year.

Cash from operations totaled $136 million, down 4% from $142 million in the first quarter of 2025. The company used $68 million for investing activities and $56 million for financing activities during the quarter.

Weatherford ended the quarter with $1.05 billion in cash and restricted cash, up from $930 million at March 31, 2025. Total assets stood at $5.09 billion as of March 31, 2026, down from $5.20 billion at December 31, 2025.

Total liabilities declined to $3.33 billion from $3.50 billion at year-end 2025. Long-term debt remained flat at $1.18 billion. Stockholders' equity rose to $1.76 billion from $1.70 billion at the end of 2025, with the retained earnings deficit narrowing to $1.04 billion from $1.13 billion.

The company had 71.9 million common shares outstanding at quarter-end, up from 71.6 million at December 31, 2025. Weighted average diluted shares outstanding for the quarter totaled 72.2 million, down from 73.4 million in the prior-year period.

First Quarter 2026 Financial Summary