Weatherford Says Full Year Adjusted EBITDA Margin Is Now Expected To Hit 25% In 2024 Versus 2025, While Reaffirming Previous Revenue Guidance
Portfolio Pulse from Benzinga Newsdesk
Weatherford International plc (WFRD) has updated its financial outlook, now expecting to achieve a full year adjusted EBITDA margin of 25% in 2024, a year earlier than previously forecasted. The company reaffirmed its revenue guidance, citing strong international and offshore activity that offsets North American market softness. This update follows a robust first quarter performance, despite ongoing macroeconomic volatility and geopolitical conflicts.
April 23, 2024 | 9:22 pm
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Weatherford International plc (WFRD) anticipates reaching a 25% adjusted EBITDA margin by 2024, surpassing previous expectations and maintaining revenue forecasts amid a strong market.
The upward revision of Weatherford's EBITDA margin forecast to 25% by 2024, ahead of the previously anticipated timeline, signals strong operational performance and market positioning. This positive adjustment, coupled with the reaffirmation of revenue guidance, reflects the company's resilience and growth potential in a challenging macroeconomic and geopolitical environment. The strong international and offshore activity that offsets the softer North American market is likely to be viewed positively by investors, potentially leading to a short-term uplift in WFRD's stock price.
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