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Weatherford (WFT) Q2 Loss in Line, Revenues Lag

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Weatherford International Ltd. (WFT) is a leading oilfield services company. It manufactures and provides equipment and services for drilling, completion, and production of oil and natural gas wells. The company’s operations are divided into five separate segments – North America, Latin America, Europe/SSA/Russia, the Middle East/North Africa/Asia Pacific and Land Drilling Rigs.
Currently, Weatherford has a Zacks Rank #4 (Sell) but that could change following its second quarter 2017 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:

Earnings: Weatherford loss per share from continuing operations (excluding special items) came in at 28 cents in line with the Zacks Consensus Estimate.
Revenue: Revenues of $1,363 million came below the Zacks Consensus Estimate of $1,417 million.

Key Stats:
North American revenues for the second quarter were $475 million, up 18.5% from the year-ago comparable quarter.

Middle East/North Africa/Asia posted revenues of $340 million, down 15% or $60 million from the year-earlier quarter.

Europe/West Africa/FSU posted revenues of $244 million, down from $243 million from the year-earlier quarter.

Latin American revenues of $203 million were down $46 million or 18.5% year over year.
(You can see the complete list of today’s Zacks #1 Rank stocks here)

Check back later for our full write up on this Helmerich & Payne earnings report later!
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