What's In The Offing For Weatherford (WFT) In Q2 Earnings?
Zacks Investment Research | Jul 25, 2017 09:06PM ET
Leading oilfield services company Weatherford International Ltd. (NYSE:WFT) is expected to report second-quarter 2017 earnings results, before the opening bell on Jul 28.
The company has a mixed earnings history. Weatherford beat the Zacks Consensus Estimate in two and missed the same in the other two of the trailing four quarters. In the last reported quarter, the company saw a negative earnings surprise of 3.23%.
Factors at Play
The commodity pricing scenario did not show any improvement in the second quarter. Oil and gas prices have been low for almost three years now and prices slipped further during second-quarter 2017. The prolonged weakness can be attributed to a persistent supply glut in the commodity market.
During the April-to-June quarter of this year, oil and natural gas prices fell 8.4% and 5%, respectively. Hence, the OPEC’s historical production cut Zacks Investment Research
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