Weatherford International (WFRD) Proxy filing summary

Executive summary

• First quarter 2026 revenue was $1,152 million, down 3% year-over-year and 11% sequentially, with operating income of $123 million, down 13% year-over-year and 38% sequentially.

• Net income rose 42% year-over-year to $108 million, with a 9.4% margin, but fell 22% sequentially; adjusted EBITDA was $233 million, down 8% year-over-year.

• Adjusted free cash flow increased 29% year-over-year to $85 million, despite a 62% sequential drop; capital expenditures were $54 million, down 30% year-over-year.

• Operational disruptions in the Middle East due to geopolitical tensions impacted results, but offsetting contributions came from other regions.

• Management expects near-term uncertainty but maintains second-half and full-year guidance for adjusted free cash flow.

Voting matters and shareholder proposals

• Shareholders are asked to approve the proposed redomestication of the company from Ireland to the United States, with Texas as the new legal home.

• The redomestication proposal aims to simplify the corporate structure, reduce compliance costs, and align operations with the U.S. market.

Board of directors and corporate governance

• The board declared a cash dividend of $0.275 per share, payable June 4, 2026, to shareholders of record as of May 6, 2026.

• Directors and executive officers are participants in the proxy solicitation for the redomestication proposal.