Weatherford’s third-quarter 2026 revenue rose 3% from the preceding quarter to $1.143 billion, while remaining 7% below the same period last year. Net income increased to $120 million, according to the oilfield-services company’s October 20 official release.
The mixed revenue comparison is central: a sequential recovery does not mean annual growth has resumed. Weatherford also announced a planned redemption of $236 million in notes, adding a near-term financing event to the operating results.
Reported results and adjusted earnings
| Measure | Verified disclosure | Primary source |
|---|---|---|
| Revenue | $1.143 billion; up 3% quarter-on-quarter, down 7% year-on-year | official release |
| Operating income | $153 million; up 43% sequentially, down 14% year-on-year | official release |
| Net income | $120 million; up 208% sequentially and 48% year-on-year | official release |
| Diluted earnings per share | $1.66 | official release |
| Adjusted EBITDA | $254 million; 22.2% margin; non-GAAP | official release |
| Cash provided by operating activities | $192 million | official release |
Operating income measures the result from operations before items such as financing costs and taxes. Net income is a later accounting result, while adjusted EBITDA removes specified items and also excludes interest, tax, depreciation and amortization. The $254 million adjusted figure therefore should not be labeled the company’s net profit.
Weatherford disclosed adjusted free cash flow of $155 million, another non-GAAP measure, alongside $45 million of capital expenditure. Operating cash flow and adjusted free cash flow should remain separate: a reader cannot assume that subtracting the stated capital expenditure alone reproduces every adjustment in the company’s free-cash-flow definition.
A debt redemption is scheduled for October 30
On October 20, Weatherford issued notice to redeem the remaining $236 million principal amount of its 8.625% senior notes due in 2030. The disclosed redemption date is October 30, 2026, at 100% of principal plus accrued and unpaid interest through that date.
The company expects to fund the transaction with cash on hand and estimates approximately $20 million of annualized cash interest savings. Those savings are a future run-rate estimate—not additional third-quarter profit or cash already received. At this report’s observation time, the redemption was an announced upcoming transaction rather than verified completed repayment.
For the operating business, the next question is whether sequential improvement extends beyond one quarter and narrows the year-on-year revenue decline. For funding, readers should look for actual redemption completion and the subsequent cash and interest-cost disclosures. Neither the earnings release nor the debt plan establishes a future share-price outcome.
The second official publication of this issuer announcement also records the result and its principal qualifications. It is another version of the same issuer release, not independent corroboration. Second primary record checked: .
Official source observed: . This report uses the linked issuer primary record; it is not independent human editorial approval or investment advice.