Weatherford Investors Seek `More Boring' From Oilfield Servicer
- Company aims for positive cash flow first time in five years
- Missed analyst earning estimates 20 times over past decade
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Weatherford International Plc shareholders are asking the company for one thing this quarter: Please, just be a little more boring.
Over the past decade, the oilfield-services provider has missed analyst estimates 20 times, settled a corruption probe and spent more than $150 million in professional fees to fix errors in its accounting. And last month, it abandoned plans to raise $1 billion for an acquisition just hours after announcing them.