Weatherford Q3 revenue falls due to disruptions in Middle East
WFRD•Weatherford’s Q3 revenue fell 7% year over year to $1.14 billion, slightly above analyst expectations, while adjusted EBITDA declined 6% to $254 million and beat estimates. The company expects a meaningful adjusted EBITDA ramp in Q4 2026 and raised its full-year 2026 adjusted free cash flow guidance.
1. Quarterly results
Weatherford reported Q3 revenue of $1.14 billion, down 7% year over year and slightly above the $1.13 billion analyst consensus. Adjusted EBITDA fell 6% to $254 million, beating the $249.64 million estimate. Net income attributable to Weatherford was $120 million, and EPS was $1.66.
2. Disruptions and outlook
CEO Girish Saligram said conflict-related operational disruptions in the Middle East weighed on activity levels and dampened expectations of a quick recovery. Weatherford expects a meaningful ramp in adjusted EBITDA in Q4 2026 and raised its full-year 2026 adjusted free cash flow guidance. Higher Drilling Services and MPD activity in Latin America drove segment growth; the company attributed margin expansion and strong cash generation to portfolio diversification, cost discipline and execution.
3. Acquisition
Weatherford completed its acquisition of NCS Multistage during the quarter, expanding its completions and diagnostics portfolio.
