Weatherford International PLC reports results for the quarter ended June 30 - Earnings Summary

• Weatherford International PLC WFRD.OQ reported quarterly adjusted earnings of 91 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of $1.66. The mean expectation of seven analysts for the quarter was for earnings of 96 cents per share. Wall Street expected results to range from 86 cents to $1.02 per share.

• Revenue fell 14.3% to $1.20 billion from a year ago; analysts expected $1.17 billion.

• Weatherford International PLC's reported EPS for the quarter was $1.87​.

• The company reported quarterly net income of $136 million.

• Weatherford International PLC shares had risen by 6.2% this quarter and lost 25.4% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 23.7% in the last three months.​

• In the last 30 days, two analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy," 2 "hold" and no "sell" or "strong sell." The average consensus recommendation for the oil related services and equipment peer group is also "buy"

• Wall Street's median 12-month price target for Weatherford International PLC is $69.00, about 22.5% above its last closing price of $53.45

This summary was machine generated from LSEG data July 22 at 09:01 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)