September 5, 2018 / 4:14 PM / 20 days ago

Weatherford CEO expects 2018 EBITDA to nearly double

HOUSTON, Sept 5 (Reuters) - Weatherford International’s full-year earnings before expenses will nearly double from last year, Chief Executive Mark McCollum said on Wednesday, a shift he expects to position the oilfield services provider to begin generating free cash flow.

McCollum also said earnings before interest, tax, depreciation and amortization (EBITDA), a measure of operating profitability excluding most expenses, will grow around the mid-teens percent in the third quarter compared with the prior quarter. (Reporting by Liz Hampton, Editing by Rosalba O’Brien)

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