Weatherford beats by $0.51, beats on revs; raises FY outlook (92.51 -0.32)
- Reports Q3 (Sep) earnings of $1.66 per share, excluding non-recurring items, $0.51 better than the FactSet Consensus of $1.15; revenues rose 3.1% year/year to $1.31 bln vs the $1.28 bln FactSet Consensus.
- Girish Saligram, President and Chief Executive Officer, commented, "The first three quarters of 2023 are a springboard to close the year with strong momentum, as we expect revenues to continue to grow in the fourth quarter and we now expect full year adjusted EBITDA margins to expand over 400 basis points year-over-year, with adjusted free cash flow over $450 million."