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Weatherford Ups Cash Flow in 3Q; North America Revenues Increase
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Weatherford International plc reported a net loss before charges of $42 million ($0.05 net loss per share non-GAAP) on revenues of $2.24 billion for the third quarter of 2015. GAAP net loss for the third quarter of 2015 was $170 million, or a net loss of $0.22 per share.
Third Quarter 2015 Highlights Net debt decreased by $28 million and positive free cash flow from operations was $123 million; Operating income increased 3% and by 47 basis points sequentially, driven mostly by improvements in North America where revenue increased by 2% and operating margins increased 493 basis points with the modest recovery from spring break up in Canada and continued cost reduction measures; Best-in-class sequential incrementals of 2% and year-on-year decrementals of 29%; Completed the previous…- ✓ Full news archive — U.S., Canada & international coverage
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