Market Overview

Weatherford Shares Sink Amid Restatement News, Q3 Results

Related WFT
Oil & Gas Stock Roundup: Anadarko Surges on Cleanup Settlement - Analyst Blog
Weatherford to Relocate to Ireland - Analyst Blog
Corporate Cash Kings Escape U.S. Taxes (Fox Business)

Weatherford International (NYSE: WFT) reported Q3 preliminary sales of $3.82 billion vs $3.78 billion est.

The company announced an unfavorable adjustment for operating income of $24 million in Q1 and an adjustment for operating income of $55 million for Q2. Weatherford will restate its Q1 2012 results and revised the preliminary Q2 loss before taxes to $753M.

On the conference call, an exec said Q4 North American results will be flat compared to Q3. International work during the quarter will be "stronger" than Q3.

Posted-In: Earnings News Guidance

 

Most Popular

Related Articles (WFT)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free