Weatherford International plc reported a total revenue of $4.918 billion for the fiscal year ending December 31, 2025, marking an 11% decrease from $5.513 billion in 2024. The decline in revenue was attributed to a softening market that led to reduced activity across all segments, particularly in Latin America, which accounted for 83% of the revenue drop. Operating income also fell by 19% to $756 million, down from $938 million in the previous year, primarily due to lower revenues, although this was partially offset by reduced costs in products and services.
The company experienced a decrease in both product and service revenues, with product revenues declining by 9% and service revenues by 12%. The Drilling and Evaluation (DRE) segment saw a revenue drop of 18%, while the Well Construction and Completions (WCC) and Production and Intervention (PRI) segments reported decreases of 5% and 8%, respectively. The overall decrease in revenues was accompanied by a higher cost of products and services as a percentage of revenues, which rose to 69% in 2025 from 65% in 2024.
In terms of strategic developments, Weatherford completed the sale of its pressure pumping business in Argentina in April 2025, generating a gain of $70 million. The company also continued to focus on operational efficiency, resulting in restructuring charges of $58 million, up from $42 million in 2024. Weatherford's employee headcount stood at approximately 16,700 as of December 31, 2025, with some operations subject to union contracts covering about 9% of employees.
Looking ahead, Weatherford anticipates continued challenges in the energy services industry, particularly in the first half of 2026, as customers remain focused on capital discipline and efficiency. The company expects a gradual improvement in activity levels in the latter half of 2026, projecting that full-year results will be slightly lower or in line with 2025. Weatherford remains committed to enhancing its technology offerings and expanding its market presence, which it believes will be crucial for long-term growth and profitability amidst ongoing market volatility.
About Weatherford International plc
Weatherford International plc is a global energy services company providing equipment and services across the oil and natural gas well lifecycle, including drilling, evaluation, well construction, completion, production, intervention, and abandonment. Operating in approximately 75 countries with diverse segments, it leverages advanced technologies, digital solutions, and a focus on safety, sustainability, and customer value to optimize reservoir development and production.
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