Weatherford International Ltd. (WFT) reported a first quarter net income dropped to $22 million, or $0.03 per share from $122 million, or $0.16 per share in the same quarter last year.
On an adjusted basis, the comapny posted a profit of $117 million, or $0.15 per share for the current quarter and adjusted for after-tax losses of $95 million.
Meanwhile, net revenues for the quarter to $3.83 billion from $3.59 billion in the prior year quarter.
32 analysts, on average, polled by Thomson Reuters expected the company to report earnings of $0.15 per share on revenues of $3.90 billion for the quarter. Analysts' estimates typically exclude special items.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.