finance
Weatherford Expects Iran-Related Earnings Impact to Peak This Quarter Before Recovery
Weatherford, a major oilfield-service provider, reported an earnings hit following events in Iran. The company stated the impact will intensify this quarter before improving. The warning highlights ongoing challenges in the sector.
Apr 22, 11:54 AM·1m read1 source
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Weatherford stated that a hit to its earnings occurred in the wake of events in Iran, with the impact expected to worsen this quarter before an eventual rebound. The company, one of the world’s largest oilfield-service providers, issued the warning as part of its financial outlook. @business reported the details, attributing the statements directly to Weatherford.
Weatherford's assessment points to immediate pressures from the Iran-related developments, followed by a projected recovery later in the year.
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