Weatherford’s Strategic Execution Sparks Turnaround As Global Energy Demand Rebounds! What’s Next?

Weatherford International recently discussed its fourth-quarter and full-year 2024 results, highlighting both challenges and achievements. During the quarter, the company faced a significant revenue shortfall due to reduced activity in Latin America, particularly in Mexico, and scheduled shifts in the North Sea. This decline impacted Weatherford’s ability to meet revenue expectations, although it still managed to achieve its objective of over 25% adjusted EBITDA margins for the year. Looking at regional performance in Q4, North America experienced a 2% sequential revenue decline, driven primarily by decreasing U.S. land activity, despite improvements in offshore business. Internationally, revenues were down 6% sequentially and 3% year-over-year, primarily affected by Latin America. Despite these challenges, the international division posted a 10% revenue growth for the year, with significant contributions from the Middle East, North Africa, and Asia.