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News Breaks
November 12, 2012
17:44 EDTWFTWeatherford restates 1Q12 results, sees material weakness in internal controls
The company has restated previously reported results for the first quarter 2012 and revised its preliminary second quarter 2012 results to correct errors in revenue and operating income amounts associated with a percentage of completion contract. In connection with these corrections we identified a material weakness in internal controls over financial reporting related to the accounting for a percentage of completion contract in Iraq. The unfavorable adjustments to the first and second quarters operating income total $24M and $55M, respectively. The company has implemented additional controls and procedures over percentage of completion accounting during the third quarter of 2012 to remediate the issues related to Iraq and these will be taken into account in our internal control assessment at year end 2012.
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July 30, 2014
13:01 EDTWFTWeatherford shares defended at Sterne Agee
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July 24, 2014
08:42 EDTWFTWeatherford sees increased sales in all regions in Q3
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08:40 EDTWFTWeatherford sees FY14 EPS $1.13-$1.20, consensus $1.08
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08:40 EDTWFTWeatherford sees Q3 EPS 33c-36c, consensus 33c
Sees Q4 EPS 43c-47c. Comments made on the Q2 earnings conference call.
05:30 EDTWFTWeatherford sees higer revenue in 2H14
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05:27 EDTWFTWeatherford reports Q2 EPS 24c, consensus 21c
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July 23, 2014
15:30 EDTWFTNotable companies reporting after market close
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