Weatherford International plc (NASDAQ:WFRD) Q2 2023 Earnings Conference Call July 26, 2023 9:00 AM ET

Company Participants

Mohammed Topiwala - Vice President, Investor Relations

Girish Saligram - President and Chief Executive Officer

Arun Mitra - Executive Vice President and Chief Financial Officer

Conference Call Participants

Luke Lemoine - Piper Sandler

Doug Becker - Capital One

Ati Modak - Goldman Sachs

Kurt Hallead - Benchmark

Connor Jensen - Raymond James

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Weatherford International Second Quarter 2023 Earnings Call. [Operator Instructions] As a reminder, this event is being recorded. I would now like to turn the conference over to Mohammed Topiwala, Vice President, Investor Relations and M&A. Sir, you may begin.

Mohammed Topiwala

Welcome everyone to the Weatherford International second quarter 2023 conference call. I am joined today by Girish Saligram, President and CEO and Arun Mitra, Executive Vice President and CFO. We will start today with our prepared remarks and then open it up for questions. You may download a copy of the presentation slides corresponding to today’s call from our website’s Investor Relations section.

I want to remind everyone that some of today’s comments include forward-looking statements. These statements are subject to many risks and uncertainties that could cause our actual results to differ materially from any expectation expressed herein. Please refer to our latest Securities and Exchange Commission filings for risk factors and cautions regarding forward-looking statements.

Our comments today also include non-GAAP financial measures. The underlying details and a reconciliation of GAAP to non-GAAP financial measures are included in our second quarter earnings press release, which can be found on our website. As a reminder, today’s call is being webcast and a recorded version will be available on our website’s Investor Relations section following the conclusion of this call.

With that, I’d like to turn the call over to Girish.

Girish Saligram

Thanks, Mohammed and thank you all for joining the call. Our second quarter results continue to build on strong momentum at the first, and I am enormously grateful to the entire One Weatherford team for delivering above expectations despite some headwinds. Our performance in the second quarter is the 12th consecutive quarter of delivering on our enterprise commitments, demonstrating the progress we continue to make in operational execution and result in financial performance. We delivered solid financial performance in revenue, margins and most importantly, cash flow.