Energy Services Name Surging to Record Highs

What to expect from WFRD's Q1 earnings report this month

Apr 20, 2022 at 4:06 PM

WFRD

Weatherford International plc (NASDAQ:WFRD) is a global energy services company operating in more than 75 countries. WFRD provides equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells. The energy company has a network of manufacturing, research and development, service, and training facilities. Shares of WFRD are flat at $38.78, at last check.

WFRD is scheduled to host a conference call on Thursday, April 28, to discuss Weatherford International's results for the first quarter of fiscal 2022. Prior to the conference call, the company will also issue a press release announcing the results. Last quarter, Weatherford reported earnings of -$2.30 per share. However, Wall Street analysts currently expect that WFRD will report a dramatically increased, though still negative EPS (earnings per shared) of -$0.54 for the upcoming Q1 earnings report.

Weatherford stock has increased a notable 268% year-over-year and has soared 290% since bottoming at a 52-week low of $10.00 last April. Additionally, shares of WFRD have grown 35% year-to-date and Weatherford stock just hit a brand new all-time high of $40.16 on Monday, April 18.

However, the energy company’s fundamentals offer next to no stability or any long-term security. Weatherford International carries a weak balance sheet with $951 million in cash and $2.62 billion in total debt. Still, from a purely fundamental point of view, WFRD continues to be nothing more than a trading opportunity, with Weatherford stock’s price-sales ratio of 0.74 allowing for more upside in the short-term.

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