Weatherford Reports First Venezuela Revenue in Q3, Sees Growth Through 2028
Photo: TokenPost
Weatherford International plc recorded its first revenue from Venezuela in the third quarter, while President and CEO Girish Saligram described a possible expansion through 2028 as the oilfield services company set its next-quarter outlook. Weatherford’s third-quarter sales totaled $1.143 billion, a 3% increase from the prior quarter and a 7% decline from the year-earlier period. Net income attributable to Weatherford rose 48% year over year to $120 million. Diluted EPS was $1.66, up from $1.12 in the year-earlier quarter. Adjusted EBITDA was $254 million, down 6% year over year, while its margin increased 39 basis points to 22.2%.
Source: TokenPost
