WFRD

LONG

WEATHERFORD INTL PLC

Funds

Score

4.50

vs SPY

-6.5%

Stock return (since Q-end)

+9.9%

SPY return (since Q-end)

+16.3%

Current price

$103.64

News Summary

Negative

Weatherford delivered a strong Q1 2026 EPS beat (~46% above consensus) with solid cash generation, but revenue declined 11% sequentially and 3% YoY, with management citing $30–50M profit headwinds from Middle East disruption (Iran conflict) expected to persist through H1. The company revised Q2 guidance downward, reduced full-year adjusted EBITDA and free cash flow conversion guidance, and is pursuing a U.S. redomiciliation while securing new contract wins in Brazil, Guyana, and Nigeria to support a stronger H2 2026 ramp.

Red flags

•Q2 2026 guidance revised downward; Iran conflict creating $30–50M H1 profit impact
•Sequential revenue decline of 11% (Q1 2026 vs Q4 2025) and 3% YoY decline
•Operating income down 38% sequentially and 13% YoY in Q1
•Adjusted EBITDA margin compression of 235 bps sequentially (20.2% in Q1 vs 23.5% in Q4)
•Full-year adjusted free cash flow conversion guidance revised to mid-40% range (below prior expectations)
•Material Middle East business disruption with uncertain duration

Funds Buying (3)

Fund	Manager	Shares Held	∆ Shares	Position Value	QoQ	Status
Sachem Head Capital	Scott Ferguson	2.5M	+2.5M	$238.8B	—	NEW
Point72	Steve Cohen	393K	+393K	$37.2B	—	NEW
Greenlight Capital	David Einhorn	146K	+146K	$13.8B	—	NEW

Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter.