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Change Today -0.17 / -0.71%
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As of 12:06 PM 07/28/14 All times are local (Market data is delayed by at least 15 minutes).

weatherford international pl (WFT) Snapshot

Open
$24.09
Previous Close
$24.06
Day High
$24.09
Day Low
$23.81
52 Week High
07/24/14 - $24.88
52 Week Low
02/3/14 - $13.07
Market Cap
18.5B
Average Volume 10 Days
6.8M
EPS TTM
$0.67
Shares Outstanding
772.6M
EX-Date
--
P/E TM
35.7x
Dividend
--
Dividend Yield
--
Current Stock Chart for WEATHERFORD INTERNATIONAL PL (WFT)

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weatherford international pl (WFT) Details

Weatherford International Ltd. provides equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells worldwide. The company offers controlled-pressure drilling and testing services, including closed-loop, air, controlled pressure, and underbalanced drilling; drilling services, such as directional drilling, logging while drilling, measurement while drilling, and rotary steerable systems; and tubular running services, which consist of tubular connection and installation services for the drilling, completion, and work over of oil or natural gas wells. It also provides drilling tools comprising drilling jars, under reamers, rotating control devices, down hole tools, drill pipe and related tools, tubular handling equipment, and other pressure-control equipment; drilling and project management services; wire line services; re-entry, fishing, and thru-tubing services; equipment for cementing operations; liner systems, such as liner hangers; and integrated laboratory services; and surface logging systems. In addition, the company offers artificial lift systems that include reciprocating rod lift systems, progressing cavity pumps, gas lift systems, hydraulic lift systems, plunger lift systems, hybrid lift systems, and wellhead systems to produce oil or natural gas from the wells; stimulation and chemicals, including pressure pumping services, coiled tubing services equipment, and reservoir stimulation hydraulic fracturing services; and completion tools, such as cased hole and flow control systems, and well, industrial, and sand screens, as well as completion services, including upper and lower completions, and reservoir monitoring. Further, it provides services, such as inspecting, cleaning, drying, testing, improving production, running, or establishing integrity from the wellhead out, including integrated management services. The company was founded in 1972 and is headquartered in Geneva, Switzerland.

64,000 Employees
Last Reported Date: 07/23/14
Founded in 1972

weatherford international pl (WFT) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $1.9M
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $416.5K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: $949.2K
Compensation as of Fiscal Year 2013.

weatherford international pl (WFT) Key Developments

Weatherford International plc Announces Unaudited Consolidated Earnings Results for Second Quarter and Six Months Ended June 30, 2014 ; Provides Guidance for the Second Half and Full Year of 2014

Weatherford International plc announced unaudited consolidated earnings results for second quarter and six months ended June 30, 2014. For the quarter, the company reported total net revenues of $3,711 million, total operating income of $25 million, net loss before income taxes of $122 million, net loss attributable to company of $145 million or $0.19 per basic and diluted share, non-GAAP operating income of $399 million, non-GAAP income before income taxes of $252 million, non-GAAP net income of $186 million or $0.24 per diluted share, net cash provided by operating activities of $435 million compared to the total net revenues of $3,868 million, total operating income of $55 million, net loss before income taxes of $91 million, net loss attributable to company of $118 million or $0.15 per basic and diluted share, non-GAAP operating income of $286 million, non-GAAP income before income taxes of $140 million, non-GAAP net income of $116 million or $0.15 per diluted share, net cash provided by operating activities of $252 million for the same quarter year ago. Capital expenditures for property, plant and equipment was $376 million compared to the $446 million for the same quarter year ago. For the year to date, the company reported total net revenues of $7,307 million, total operating income of $155 million, net loss before income taxes of $127 million, net loss attributable to company of $186 million or $0.24 per basic and diluted share, non-GAAP operating income of $685 million, non-GAAP income before income taxes of $403 million, non-GAAP net income of $285 million or $0.36 per diluted share, net cash provided by operating activities of $29 million compared to the total net revenues of $7,705 million, total operating income of $334 million, net loss before income taxes of $56 million, net loss attributable to company of $96 million or $0.12 per basic and diluted share, non-GAAP operating income of $603 million, non-GAAP income before income taxes of $313 million, non-GAAP net income of $233 million or $0.3 per diluted share, net cash provided by operating activities of $241 million for the same period a year ago. Capital expenditures for property, plant and equipment was $662 million compared to the $846 million for the same period year ago. Net debt at June 30, 2014 was $8,854 million. The company expected that the second half of 2014 to show higher revenue and operating income in North America compared to the first half of this year, with the U.S. benefiting from higher activity levels driven by increased well counts and service intensity as well as a lower operating cost structure and a strong recovery after the spring break-up in Canada. Latin America is expected to show improvement in both revenue and profitability in the second half of 2014, as increased core business activity in Argentina, Brazil and Mexico rise to propel operating income margins into the high teens. The tax rate for the second half of the year will range between 25% and 30% with the full year tax rate converging between 25% and 28%, which will be dependent on the geographic mix of earnings. Capital expenditures are estimated higher at $1.35 billion for 2014, principally from mobilization for new core business contracts. Weatherford fully expects to generate higher levels of free cash flow in the second half of the year and continues to target $500 million of free cash flow from operations for 2014. The company expects to reduce net debt to $7 billion by year-end.

Weatherford Seeks Acquisitions

Weatherford International plc (NYSE:WFT) seeks acquisitions. "And I'll close with philosophical comments, If you think, Jim, what -- and I don't want to belabor this, I'm told I should not belabor it because people are tired of hearing it. But if you go through the process four, five years of self-destruction, the whole business of commercializing technology goes away. The happy news about us is that in that period of time of self-destruction, we never stopped the technology train, ever. We continue to develop, acquire, develop and spend money on technology without commercializing it, and we also didn't go after a number of different markets precisely because we were highly distracted," said Bernard Duroc-Danner - Weatherford International Ltd, Chief Executive Officer.

Weatherford International plc Announces Executive Changes; to Merge its Legal and Compliance Departments

Weatherford International plc announced the appointment of Ms. Dianne B. Ralston as Executive Vice President, General Counsel and Corporate Secretary. Her most recent positions with Schlumberger were of Deputy General Counsel, Corporate, as well as Deputy General Counsel, Government Affairs and Litigation. Mr. William B. Jacobson, Senior Vice President, Co-General Counsel and Chief Compliance Officer of Weatherford, will be stepping down and leaving the company to pursue other opportunities. During his five year tenure at Weatherford, Mr. Jacobson established a comprehensive best-in-class compliance program. Mr. Alejandro Cestero, Vice President, Co-General Counsel and Corporate Secretary of the company, will also be leaving the company effective July 31, 2014 to pursue other opportunities. The company announced that with this appointment, Weatherford will merge the company's legal and compliance departments under Ms. Ralston, ensuring best practices in legal and compliance activities while securing a more efficient and effective organizational structure. With the resolution of Weatherford's legacy issues, this consolidation is a natural step forward in corporate governance.

 

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