Weatherford (WFT) Q3 Loss Narrower than Expected

Weatherford International Ltd. (WFT) is a leading oilfield services company. It manufactures and provides equipment and services for drilling, completion, and production of oil and natural gas wells. The company’s operations are divided into five separate segments – North America, Latin America, Europe/SSA/Russia, the Middle East/North Africa/Asia Pacific and Land Drilling Rigs.

Currently, Weatherford has a Zacks Rank #3 (Hold) but that could change following its third quarter 2017 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:

Earnings: Weatherford loss per share from continuing operations (excluding special items) came in at 22 cents narrower than the Zacks Consensus Estimate of a loss of 24 cents.

Revenue: Revenues of $1,460 million came above the Zacks Consensus Estimate of $1,356 million.

Key Stats:
North American revenues for the third quarter were $538 million, up 19.8% from the year-ago comparable quarter.

Middle East/North Africa/Asia posted revenues of $335 million, up 1.8% from the year-earlier quarter.

Europe/West Africa/FSU posted revenues of $252 million, down from $225 million from the year-earlier quarter and the Zacks Consensus Estimate revenue from this segment of $255 million.

Latin American revenues of $229 million were down 10.2% year over year.

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Check back later for our full write up on this Weatherford earnings report later!

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