Weatherford International plc (NASDAQ:WFRD) Q1 2022 Earnings Conference Call April 28, 2022 9:30 AM ET

Company Participants

Mohammed Topiwala - Director of IR

Girish Saligram - President & CEO

Keith Jennings - EVP & CFO

Conference Call Participants

Ian MacPherson - Piper Sandler

Doug Baker - Benchmark Research

Anna Leonard - Bank of America

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Weatherford International First Quarter 2022 Earnings Call. All participants will be in listen-only mode. [Operator Instructions] As a reminder, this event is being recorded.

I would now like to turn the conference over to Mohammed Topiwala, Director, Investor Relations and M&A. Please go ahead, Sir.

Mohammed Topiwala

Welcome, everyone, to the Weatherford International First Quarter 2022 Conference Call. I'm joined today by Girish Saligram, President and CEO; and Keith Jennings, 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 that correspond with 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 materially differ 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 first quarter press release, which can be found on our website.

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

Girish Saligram

Thanks, Mohammed, and thank you all for joining the call today. I am very pleased with our first quarter results and incredibly proud of and grateful to the entre Weatherford team for their efforts and outcomes. We've made a solid start in Q1 that lays a firm foundation for our total year outlook of top line growth, margin expansion and free cash flow generation.

This quarter, along with the broader industry, we experienced several headwinds driven by inflation, supply chain issues, disruptions related to the COVID 19 pandemic and unprecedented challenges caused by geopolitical events. Foremost in everyone's mind is the ongoing crisis in Ukraine caused the invasion. We have over 100 employees in Ukraine and I am relieved, grateful and glad that they're all safe and accounted for. The safety and wellbeing of all of our employees is our first priority and we have approached this situation with the same mindset. I want to acknowledge and recognize our employees globally for their support in many different forms for our team in Ukraine. This is a great example of the one Weatherford spirit in action.