On July 22, Weatherford International PLC rose 8.88% in regular trading, trading at $90.775/share, with turnover of approximately $84.62 million. The movement followed the release of the company's second-quarter earnings report.

Weatherford International reported Q2 earnings of $0.55 per diluted share, missing the analyst consensus estimate of $0.89 by 38.2%, and down from $1.87 a year earlier. However, revenue for the quarter ended June 30 came in at $1.105 billion, exceeding the analyst expectation of $1.069 billion, though still down from $1.20 billion a year ago. The company also adjusted its second-half outlook to reflect current market dynamics and made a slight downward revision to its full-year guidance.

For context, Weatherford had delivered a strong Q4 beat earlier this year with EPS of $1.91 versus a $1.43 estimate. The company also announced a proposal to redomesticate to the United States, establishing Texas as its new legal domicile, and secured a multi-year Integrated Completions contract from TotalEnergies in Denmark.

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