Weatherford International (NYSE: WFT ) reported earnings on July 30. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), Weatherford International met expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded slightly. Non-GAAP earnings per share grew. GAAP loss per share contracted.
Gross margins contracted, operating margins grew, net margins expanded.
Weatherford International logged revenue of $3.87 billion. The 20 analysts polled by S&P Capital IQ foresaw sales of $3.87 billion on the same basis. GAAP reported sales were 3.2% higher than the prior-year quarter's $3.75 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $0.15. The 30 earnings estimates compiled by S&P Capital IQ forecast $0.15 per share. Non-GAAP EPS were $0.15 for Q2 against -$0.99 per share for the prior-year quarter. GAAP EPS were -$0.15 for Q2 compared to -$1.11 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 10.5%, much worse than the prior-year quarter. Operating margin was 7.4%, 120 basis points better than the prior-year quarter. Net margin was -3.1%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $4.10 billion. On the bottom line, the average EPS estimate is $0.23.
Next year's average estimate for revenue is $16.15 billion. The average EPS estimate is $0.81.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 991 members out of 1,022 rating the stock outperform, and 31 members rating it underperform. Among 192 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 186 give Weatherford International a green thumbs-up, and six give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Weatherford International is outperform, with an average price target of $15.55.
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