Weatherford International's Earnings Improve Slightly, but It Still Has a Long Way to Go [The Motley Fool]
WEATHERFORD INTL (WFT)
Last weatherford intl earnings: 2/1 06:50 am
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US:NYSE Investor Relations:
weatherford.com/en/investor-relations
Company Research
Source: The Motley Fool
Weatherford International needs several more quarters of improving results in order to return to profitability. Weatherford International ( NYSE:WFT ) has been an undead company for several years now. Despite the fact that it hasn't produced a profitable year since 2012, has been burning through cash for longer, and has more debt than the total capitalization of the business, it somehow hasn't gone bankrupt. This entire time, management has been promising a turnaround with ambitious plans to reduce its costs, but these efforts have been all for naught as its financial situation continues to worsen. This past quarter, we got an update on the progress of the most recent iteration of its turnaround plan. Somewhat surprisingly, some things in that plan are showing results. Though not the sweeping changes investors were hoping for, it was something. Let's take a look at what happened at Weatherford International this past quarter and how investors should be approaching this
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