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Weatherford International PLC (WFT)

WFT on New York Consolidated

3.39USD
16 Nov 2017
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$0.00 (+0.00%)
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Latest Key Developments (Source: Significant Developments)

Weatherford International Q3 loss per share $0.26
Wednesday, 1 Nov 2017 06:45am EDT 

Nov 1 (Reuters) - Weatherford International Plc :Weatherford reports third quarter 2017 results.Q3 revenue $1.46 billion versus I/B/E/S view $1.48 billion.Q3 loss per share $0.26.Q3 earnings per share view $-0.24 -- Thomson Reuters I/B/E/S.Weatherford International Plc - ‍specific actions to achieve $300 million in cost savings are already underway​.Weatherford International Plc - qtrly non-GAAP diluted net loss of $0.22 per share​.Weatherford International Plc - with negative free cash flow during quarter, co's "highest priority is free cash flow generation"​.Weatherford -‍sequentially, Q3 north america revenue up 13% due to higher U.S. Average land rig count, seasonal recovery from spring break-up in Canada​.Weatherford International - initiated transformation program targeting improvements in results of about $1 billion, with timeline of 18-24 mnths ‍​.  Full Article

Weatherford announces closing of registered exchange offer for previously issued 9.875 pct senior notes due 2024
Monday, 23 Oct 2017 04:10pm EDT 

Oct 23 (Reuters) - Weatherford International Plc ::Weatherford announces closing of registered exchange offer for previously issued 9.875% senior notes due 2024.  Full Article

Weatherford announces registered exchange offer for previously issued 9.875 pct senior notes due 2024
Friday, 22 Sep 2017 05:02pm EDT 

Sept 22 (Reuters) - Weatherford International Plc :Weatherford announces registered exchange offer for previously issued 9.875% senior notes due 2024.  Full Article

WEATHERFORD PRICES PRIVATE OFFERING OF $250 MILLION OF SENIOR NOTES
Monday, 26 Jun 2017 05:14pm EDT 

June 26 (Reuters) - Weatherford International Plc :WEATHERFORD PRICES PRIVATE OFFERING OF $250 MILLION OF SENIOR NOTES.PRICING OF A PRIVATE OFFERING OF AN ADDITIONAL $250 MILLION AGGREGATE PRINCIPAL AMOUNT OF ITS 9.875% SENIOR NOTES DUE 2024.PRICING OF A PRIVATE OFFERING AT 101% OF PAR.  Full Article

Weatherford International in June identified an immaterial error, with no cash flow impact, of nearly $28 mln, net - SEC Filing
Monday, 26 Jun 2017 07:40am EDT 

June 26 (Reuters) - Weatherford International Plc :Weatherford International - In June 2017, company identified an immaterial error, with no cash flow impact, of approximately $28 million, net - SEC filing.Weatherford - Identified error related to recognition of revenue with a customer, Petróleos De Venezuela, S.A..Weatherford International Plc - Impact of correction will reduce accounts receivable by approximately $28 million as of June 30, 2017.Weatherford International says will correct immaterial error in quarterly report on form 10-Q for the three and six month periods ended June 30, 2017‍​.Weatherford - Immaterial error resulted in overstatement of both accounts receivable & revenue of about $22 million & $23 million, respectively, as of and for 2016.Weatherford says ‍beginning Q3 2016, time expected to collect revenue earned with pdvsa exceeds contractual payment terms, represents implied financing arrangement​.Weatherford - Correction to reduce revenue, increase interest income by about $31 million and $3 million, respectively, for three and six months ended June 30‍​.Weatherford - Error resulted in overstatement of both accounts receivable & revenue of about $6 million & $8 million, respectively, as of & for 3-mths ended March 31, 2017.Weatherford - Impact of error would have no impact on previously reported compliance with covenants under senior revolving & term loan credit facilities‍​.  Full Article

Weatherford announces private offering of $250 mln of senior notes
Monday, 26 Jun 2017 07:18am EDT 

June 26 (Reuters) - Weatherford International Plc :Weatherford announces private offering of $250 million of senior notes.Weatherford International Plc - Launch of a private offering of an additional $250 million aggregate principal amount of its 9.875% senior notes due 2024.Weatherford International Plc - New notes will have identical terms, other than issue date, as initial notes.Weatherford International Plc - New notes and initial notes will be treated as a single class of securities under indenture governing notes.Weatherford-‍new notes to be issued as additional securities under indenture pursuant to which weatherford bermuda issued $540 million of 9.875% senior notes due 2024​.Weatherford International - Purpose of offering is to repay amounts outstanding under co's revolving credit facility, give co additional liquidity throughout 2017.  Full Article

Weatherford International Q1 loss per share $0.45
Friday, 28 Apr 2017 07:00am EDT 

April 28 (Reuters) - Weatherford International Plc :Weatherford reports first quarter 2017 results.Q1 revenue $1.39 billion.Q1 loss per share $0.45.Q1 earnings per share view $-0.31, revenue view $1.36 billion -- Thomson Reuters I/B/E/S.  Full Article

State Street Global Advisors says received a paymentfrom class action settlement
Friday, 21 Apr 2017 04:48pm EDT 

April 21 (Reuters) - State Street Corp ::State Street Global Advisors says received a payment as authorized claimant from a class action settlement related to Weatherford International Ltd.  Full Article

Weatherford International CEO Krishna Shivram's FY 2016 total compensation was $4.3 mln versus $4.9 mln in FY 2015
Wednesday, 29 Mar 2017 05:03pm EDT 

Weatherford International Plc : Weatherford International - CEO Krishna Shivram's FY 2016 total compensation was $4.3 million versus $4.9 million in FY 2015 .Weatherford international - former chairman, Bernard Duroc-Danner's FY 2016 total compensation was $31.43 million versus $15.72 million in FY 2015 - sec filing.  Full Article

Weatherford and Schlumberger to form OneStim joint venture
Friday, 24 Mar 2017 04:45pm EDT 

Weatherford International Plc : Weatherford and Schlumberger to form OneStim joint venture . Weatherford International Plc - Schlumberger and Weatherford will have 70/30 ownership of joint venture, respectively . Weatherford International Plc - Schlumberger will manage joint venture and consolidate it for financial reporting purposes .Weatherford International Plc says Weatherford will receive a one-time $535 million cash payment from Schlumberger.  Full Article

BRIEF-Community Health Systems completes divestiture of Weatherford, Texas hospital

* Community Health Systems completes divestiture of Weatherford, Texas hospital Source text for Eikon: Further company coverage: