Weatherford Announces First Quarter 2024 Results and Raises Full Year Margin Guidance
HOUSTON, April 23, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) announced today its results for the first quarter of 2024.
- Operating income was $233 million in the first quarter of 2024, compared to $185 million in the first quarter of 2023 and $216 million in the fourth quarter of 2023.
- First quarter 2024 cash flows provided by operating activities were $131 million, compared to $84 million in the first quarter of 2023 and $375 million in the fourth quarter of 2023.
- Capital expenditures were $59 million in the first quarter of 2024, compared to $64 million in the first quarter of 2023 and $67 million in the fourth quarter of 2023.
- We closed the first quarter 2024 with total cash of approximately $937 million as of March 31, 2024, down $126 million sequentially.