Weatherford reports Q4 EPS $1.90, consensus $1.36

Reports Q4 revenue $1.36B, consensus $1.34B. Revenues for the fourth quarter of 2023 were $1,362M an increase of 4% sequentially and 13% year-over-year. Operating income was $216M in the fourth quarter of 2023, compared to $218M in the third quarter of 2023 and $169M in the fourth quarter of 2022. Net income in the fourth quarter of 2023 was $140 million, an increase of 14% or 91 basis points sequentially, and an increase of 94% or 432 basis points year-over-year. Adjusted EBITDA* was $321 million, an increase of 5% or 34 basis points sequentially, and an increase of 21% or 157 basis points year-over-year. Basic income per share was $1.94, compared to $1.70 in the third quarter of 2023 and $1.01 in the fourth quarter of 2022.