On Wednesday, Shares of Weatherford International Plc (NYSE:WFT), lost - 5.51% to $9.09.
Weatherford International stated a net loss before charges of $77 million ($0.10 net loss per share non-GAAP) on revenues of $2.39 billion for the second quarter of 2015. GAAP net loss for the second quarter of 2015 was $489 million, or a net loss of $0.63 per share.
Second Quarter 2015 Highlights
- Positive free cash flow of $104 million, principally on improved working capital performance and lower capital expenditures;
- Free cash flow improved sequentially $370 million, despite lower earnings; and
- Accomplished 97% of the reduction in force target of 10,000 employees by June 30, 2015, with predictable annualized savings of $686 million.
Second Quarter 2015 Results
Revenue for the second quarter of 2015 was $2.39 billion contrast with $2.79 billion in the first quarter of 2015 and $3.71 billion in the second quarter of 2014. Second quarter revenues declined 14% sequentially and 36% from the preceding year. Sequentially, North America comprised the bulk of the revenue decline with only a small decrease in revenues internationally.
Net loss on a non-GAAP basis for the second quarter of 2015 was $77 million contrast to net income of $186 million in the second quarter of the preceding year and a net loss of $33 million in the first quarter of 2015.
Weatherford International plc provides equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells worldwide.
Shares of JetBlue Airways Corporation (NASDAQ:JBLU), declined -0.42% to $23.94, during its last trading session.
JetBlue Airways Corporation, declared the appointment of Steve Priest to the role of Vice President, Structural Programs. Priest joins JetBlue effective recently and will report to JetBlue’s Chief Financial Officer, Mark Powers.
In his new role, Priest will be responsible for leading many of JetBlue’s large-scale planned and structural initiatives. He will play a critical cross-functional role assisting the company in identifying new opportunities to drive key structural improvements and greater efficiency while balancing the needs of its customers and crewmembers. Priest will also have oversight of Fleet Programs, Continuous Improvement and Planned Sourcing.
“With Steve’s considerable cross-functional experience across multiple geographies he is an ideal leader to assist us execute our major structural and planned initiatives,” said Powers. “We intend to deliver on our commitment to improve efficiency and shareholder returns and I am very happy to have Steve supporting us in these ongoing efforts.”
JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2014, the company operated a fleet of 13 Airbus A321 aircrafts, 130 Airbus A320 aircrafts, and 60 EMBRAER 190 aircrafts.
Finally, Wyndham Worldwide Corporation (NYSE:WYN), ended its last trade with 0.09% loss, and closed at $80.42.
Stephen P. Holmes, chairman and chief executive officer, Wyndham Worldwide; and Faith Taylor, senior vice president, corporate social responsibility, Wyndham Worldwide, presented a check for $100,000 to “Birdies Fore Backpacks” from the Company’s Wishes by Wyndham Foundation. “Birdies Fore Backpacks” launched in 2014 to fight childhood food insecurity in the Piedmont Triad and is perhaps the most important charitable initiative in tournament history.
“Birdies Fore Backpacks” is the official charity of the Wyndham Championship, and supports charitable organizations, which fill backpacks with nutritionally sound meals for low income kids and families to take home every weekend. During its inaugural run last year, “Birdies Fore Backpacks” raised nearly $200,000 to assist feed hungry children in the Piedmont Triad region. This year, fans have the opportunity to comprise a donation to “Birdies Fore Backpacks” of $1 or more when purchasing tickets on-line at WyndhamChampionship.com, or merchandise and concessions on course.
Held annually at Sedgefield Country Club in Greensboro, N.C., the Wyndham Championship offers a week full of golf, charitable giving, in addition to family-fun activities and prizes. For many fans, the tournament may be their last escape of the summer, and for the players, it’s the last PGA TOUR stop before the FedExCup Playoffs and seen as a must-play for those looking to win points to either qualify for or improve their standing entering the Playoffs. Earlier this year, the PGA TOUR and Wyndham Worldwide declared that Wyndham has extended its title sponsorship of the Tournament, one of the TOUR’s longest-running tournaments, through 2026.
Wyndham Worldwide Corporation provides hospitality services and products to individual consumers and business customers worldwide. It operates three in segments: Lodging, Vacation Exchange, and Rentals, and Vacation Ownership.
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