Weatherford reported fourth quarter diluted earnings per share of $1.91, surpassing the consensus estimate of $1.42 and marking a 27% increase from $1.50 a year ago. This performance was driven by higher activity levels in select regions, customer pull-through on product deliveries and disciplined cost management, leading to an improvement of 235 basis points in net margin year-over-year.

Revenue in Q4 reached $1,289 million, up 5% sequentially despite a 4% year-over-year decline as international markets showed signs of recovery. Operating income rose 12% sequentially to $199 million, while adjusted EBITDA of $291 million delivered a 22.6% margin, up 74 basis points quarter-to-quarter. Cash flow from operations surged 94% sequentially to $268 million and adjusted free cash flow climbed 124% to $222 million.

For the full year, Weatherford generated $4,918 million in revenue, down 11% from 2024, with operating income of $756 million reflecting a 19% decline. Net income totaled $431 million, an 8.8% margin and 15% decrease year-over-year. Full-year adjusted EBITDA was $1,067 million, representing a 21.7% margin and a 23% reduction in dollars. Annual free cash flow stood at $466 million, down 11% as capital expenditures fell 24% to $226 million.

During the quarter, Weatherford paid $18 million in dividends and repurchased $7 million of shares, bringing total shareholder returns to $25 million. The board approved a 10% increase in the quarterly dividend to $0.275 per share. Operationally, the company secured multiple multiyear contracts across the Middle East, South America and Europe, and completed the first deployment of its Xpress XT liner hanger system in Kuwait, underscoring its technology leadership in high-pressure, high-temperature applications.