We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Weatherford (WFT) Posts Narrower-Than-Expected Loss in Q3
Read MoreHide Full Article
Weatherford International Ltd reported third-quarter 2017 adjusted loss of 22 cents per share, narrower than the Zacks Consensus Estimate of 24 cents and year-earlier adjusted loss of 39 cents.
Total revenues of $1,460 million increased from $1,356 million in the year-ago period but lagged the Zacks Consensus Estimate of $1,481 million.
Weatherford International PLC Price, Consensus and EPS Surprise
North American revenues in the third quarter were $538 million, up 19.8% year over year. Operating income in the quarter was $33 million as against an operating loss of $95 million in the year-ago quarter.
Middle East/North Africa/Asia recorded revenues of $335 million, up 1.8% year over year. The company reported operating income of $8 million that compared favorably with an operating loss of $8 million in the year-ago quarter.
Europe/West Africa/FSU witnessed a 12% year-over-year increase in revenues to $252 million. The company recorded operating income of $14 million that compared favorably with an operating loss of $3 million in the year-ago quarter.
Latin American revenues were $229 million, down 10.2% year over year. Third-quarter operating loss of $5 million compared unfavorably with an operating income of $14 million in the year-ago quarter.
Liquidity
As of Sep 30, Weatherford had $445 million in cash and cash equivalents. The company’s long-term debt was $7,530 million. Weatherford spent approximately $65 million in capital expenditures during the reported quarter.
Zacks Rank & Key Picks
Currently, Weatherford carries a Zacks Rank #3 (Hold). A few better-ranked players in the energy sector are Braskem SA (BAK - Free Report) , ConocoPhillips (COP - Free Report) and Noble Midstream Partners LP . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The largest petrochemical operator in Latin America, Braskem, delivered a positive earnings surprise of 68.54% in the preceding quarter.
ConocoPhillips, based in Houston, TX, is a major global exploration and production (E&P) company. It delivered an average positive earnings surprise of 152.34% in the last four quarters.
Noble Midstream Partners, headquartered in Houston, TX, has diversified energy infrastructure properties. The company delivered a positive earnings surprise of 30.67% in the preceding quarter.
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors.
Image: Bigstock
Weatherford (WFT) Posts Narrower-Than-Expected Loss in Q3
Weatherford International Ltd reported third-quarter 2017 adjusted loss of 22 cents per share, narrower than the Zacks Consensus Estimate of 24 cents and year-earlier adjusted loss of 39 cents.
Total revenues of $1,460 million increased from $1,356 million in the year-ago period but lagged the Zacks Consensus Estimate of $1,481 million.
Weatherford International PLC Price, Consensus and EPS Surprise
Weatherford International PLC Price, Consensus and EPS Surprise | Weatherford International PLC Quote
Operational Performance
North American revenues in the third quarter were $538 million, up 19.8% year over year. Operating income in the quarter was $33 million as against an operating loss of $95 million in the year-ago quarter.
Middle East/North Africa/Asia recorded revenues of $335 million, up 1.8% year over year. The company reported operating income of $8 million that compared favorably with an operating loss of $8 million in the year-ago quarter.
Europe/West Africa/FSU witnessed a 12% year-over-year increase in revenues to $252 million. The company recorded operating income of $14 million that compared favorably with an operating loss of $3 million in the year-ago quarter.
Latin American revenues were $229 million, down 10.2% year over year. Third-quarter operating loss of $5 million compared unfavorably with an operating income of $14 million in the year-ago quarter.
Liquidity
As of Sep 30, Weatherford had $445 million in cash and cash equivalents. The company’s long-term debt was $7,530 million. Weatherford spent approximately $65 million in capital expenditures during the reported quarter.
Zacks Rank & Key Picks
Currently, Weatherford carries a Zacks Rank #3 (Hold). A few better-ranked players in the energy sector are Braskem SA (BAK - Free Report) , ConocoPhillips (COP - Free Report) and Noble Midstream Partners LP . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The largest petrochemical operator in Latin America, Braskem, delivered a positive earnings surprise of 68.54% in the preceding quarter.
ConocoPhillips, based in Houston, TX, is a major global exploration and production (E&P) company. It delivered an average positive earnings surprise of 152.34% in the last four quarters.
Noble Midstream Partners, headquartered in Houston, TX, has diversified energy infrastructure properties. The company delivered a positive earnings surprise of 30.67% in the preceding quarter.
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors.
Click here for Zacks' private trades >>