Business Context and Reporting Period
Company: Weatherford International plc
Filing Type: Form 8-K (Current Report)
Date of Report: May 11, 2020
Reporting Period: First quarter ended March 31, 2020
Key Event: The filing announces Q1 2020 results and confirms the delisting of ordinary shares from the New York Stock Exchange (NYSE), which became effective on April 27, 2020.
Financial Metrics
This Form 8-K serves as a notification of the Q1 2020 results and incorporates the news release as Exhibit 99.1. The filing text itself does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. Investors must refer to the incorporated news release (Exhibit 99.1) for detailed financial data.
Material Changes
- Delisting: The NYSE filed a Form 25 on April 17, 2020, delisting Weatherford's ordinary shares. The delisting became effective 10 days after filing.
- Deregistration: Deregistration of ordinary shares under Section 12(b) of the Exchange Act will become effective 90 days from the Form 25 filing date.
- Trading Status: The filing indicates the trading symbol is WFTLF, but the exchange name is listed as N/A following the NYSE delisting.
Guidance, Outlook, and Risks
The filing text does not contain specific guidance, outlook, management commentary, or risk factors beyond the notification of the Q1 results and the delisting event. Detailed commentary and risk assessments are contained within the news release furnished as Exhibit 99.1.
Key Facts for Investor Verification
- Verify the specific Q1 2020 financial results (revenue, net income, cash flow) in the news release (Exhibit 99.1) referenced in this filing.
- Confirm the current trading venue for Weatherford shares following the NYSE delisting effective April 27, 2020.
- Monitor the timeline for the deregistration of shares under Section 12(b), which is scheduled to become effective 90 days after April 17, 2020.
- Review the full text of the news release for any updated guidance or liquidity discussions related to the Q1 performance.