Wed, Jul 24, 8:37 PM (45 days ago)
Weatherford International plc's Q2 2024 financial results show a 10% YoY increase in revenue to $1.4 billion, driven by higher service and product sales. Operating income rose 31% to $264 million, primarily due to improved operational efficiencies and gains on asset sales. The company reported net income of $137 million, up from $90 million in Q2 2023. Cash flow from operations was $281 million, slightly down from $285 million in H1 2023. Weatherford repaid $259 million in long-term debt, reducing interest expenses. The company also announced a $0.25 per share dividend and a $500 million share repurchase program.