$WFRD
Weatherford International plc

2024 Q2 Form 10-Q Financial Statement

#000160392324000086 Filed on April 24, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q4
Revenue $1.405B $1.358B $1.362B
YoY Change 10.28% 14.5% 12.66%
Cost Of Revenue $891.0M $884.0M $899.0M
YoY Change 5.19% 11.9% 11.4%
Gross Profit $514.0M $474.0M $463.0M
YoY Change 20.37% 19.7% 15.17%
Gross Profit Margin 36.58% 34.9% 33.99%
Selling, General & Admin $216.0M $164.0M $9.000M
YoY Change 36.71% -13.68% -94.55%
% of Gross Profit 42.02% 34.6% 1.94%
Research & Development $31.00M $31.00M $29.00M
YoY Change 14.81% 19.23% 20.83%
% of Gross Profit 6.03% 6.54% 6.26%
Depreciation & Amortization $86.00M $85.00M $83.00M
YoY Change 6.17% 6.25% -1.19%
% of Gross Profit 16.73% 17.93% 17.93%
Operating Expenses $247.0M $236.0M $1.133B
YoY Change 9.78% 9.26% 399.12%
Operating Profit $264.0M $238.0M -$670.0M
YoY Change 30.69% 28.65% -482.86%
Interest Expense -$24.00M -$29.00M -$31.00M
YoY Change -72.73% -6.45% -20.51%
% of Operating Profit -9.09% -12.18%
Other Income/Expense, Net -$20.00M -$22.00M -$34.00M
YoY Change -48.72% -37.14% 13.33%
Pretax Income $210.0M $182.0M $149.0M
YoY Change 183.78% 52.94% 53.61%
Income Tax $73.00M $59.00M $2.000M
% Of Pretax Income 34.76% 32.42% 1.34%
Net Earnings $125.0M $112.0M $140.0M
YoY Change 52.44% 55.56% 94.44%
Net Earnings / Revenue 8.9% 8.25% 10.28%
Basic Earnings Per Share $1.71 $1.54
Diluted Earnings Per Share $1.66 $1.50 $1.89
COMMON SHARES
Basic Shares Outstanding 73.15M shares 72.32M shares 72.12M shares
Diluted Shares Outstanding 75.30M shares 74.70M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $862.0M $824.0M $958.0M
YoY Change 9.53% -1.08% 5.27%
Cash & Equivalents $862.0M $824.0M $958.0M
Short-Term Investments
Other Short-Term Assets $239.0M $335.0M $278.0M
YoY Change -23.64% 32.41% 9.88%
Inventory $884.0M $850.0M $788.0M
Prepaid Expenses
Receivables $1.319B $1.303B $1.216B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.362B $3.312B $3.345B
YoY Change 13.16% 8.84% 9.92%
LONG-TERM ASSETS
Property, Plant & Equipment $1.007B $1.123B $957.0M
YoY Change -2.52% 22.2% 4.25%
Goodwill
YoY Change
Intangibles $384.0M $417.0M $370.0M
YoY Change -12.73% -12.03% -26.88%
Long-Term Investments
YoY Change
Other Assets $220.0M $212.0M $258.0M
YoY Change 24.29% 48.25% 86.96%
Total Long-Term Assets $1.749B $1.778B $1.723B
YoY Change 4.29% 6.72% 2.74%
TOTAL ASSETS
Total Short-Term Assets $3.362B $3.312B $3.345B
Total Long-Term Assets $1.749B $1.778B $1.723B
Total Assets $5.111B $5.090B $5.068B
YoY Change 9.96% 8.09% 7.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $771.0M $716.0M $679.0M
YoY Change 53.59% 42.63% 47.61%
Accrued Expenses $339.0M $345.0M $433.0M
YoY Change 1.19% 9.52% 5.35%
Deferred Revenue $35.00M $66.00M $58.00M
YoY Change -2.78% 26.92% 7.41%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $20.00M $101.0M $168.0M
YoY Change -39.39% -15.83% 273.33%
Total Short-Term Liabilities $1.691B $1.800B $1.866B
YoY Change 15.51% 19.13% 26.94%
LONG-TERM LIABILITIES
Long-Term Debt $1.628B $1.629B $1.715B
YoY Change -18.31% -21.19% -22.15%
Other Long-Term Liabilities $147.0M $561.0M $152.0M
YoY Change -71.68% 264.29% -59.89%
Total Long-Term Liabilities $147.0M $2.190B $152.0M
YoY Change -94.15% 1322.08% -59.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.691B $1.800B $1.866B
Total Long-Term Liabilities $147.0M $2.190B $152.0M
Total Liabilities $3.871B $3.999B $4.146B
YoY Change -3.3% -3.01% -0.55%
SHAREHOLDERS EQUITY
Retained Earnings -$1.717B -$1.842B -$1.954B
YoY Change -22.55% -19.88% -17.59%
Common Stock $2.997B $2.985B $2.906B
YoY Change 3.67% 3.47% -0.75%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.228B $1.091B $924.0M
YoY Change
Total Liabilities & Shareholders Equity $5.111B $5.090B $5.068B
YoY Change 9.96% 8.09% 7.37%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income $125.0M $112.0M $140.0M
YoY Change 52.44% 55.56% 94.44%
Depreciation, Depletion And Amortization $86.00M $85.00M $83.00M
YoY Change 6.17% 6.25% -1.19%
Cash From Operating Activities $150.0M $131.0M $375.0M
YoY Change -25.37% 55.95% 94.3%
INVESTING ACTIVITIES
Capital Expenditures $62.00M $59.00M $67.00M
YoY Change 72.22% -7.81% 36.73%
Acquisitions $36.00M
YoY Change 800.0%
Other Investing Activities $1.000M $5.000M -$64.00M
YoY Change -104.55% -28.57% -476.47%
Cash From Investing Activities -$61.00M -$54.00M -$131.0M
YoY Change 5.17% -15.63% 309.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -102.0M -187.0M -126.0M
YoY Change -40.0% 47.24% -20.75%
NET CHANGE
Cash From Operating Activities 150.0M 131.0M 375.0M
Cash From Investing Activities -61.00M -54.00M -131.0M
Cash From Financing Activities -102.0M -187.0M -126.0M
Net Change In Cash -13.00M -110.0M 118.0M
YoY Change -51.85% -14.73% 5800.0%
FREE CASH FLOW
Cash From Operating Activities $150.0M $131.0M $375.0M
Capital Expenditures $62.00M $59.00M $67.00M
Free Cash Flow $88.00M $72.00M $308.0M
YoY Change -46.67% 260.0% 113.89%

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