Oil Servicer Weatherford Sees War Impacts Deepening This Quarter

Weatherford International Plc., one of the world’s largest oilfield-service providers, is warning that a hit to earnings in the wake of the Iran war will get worse this quarter, before an eventual rebound.

The conflict will likely hurt company profits by about $30 million to $50 million over the first half of the year, Chief Executive Officer Girish Saligram said during a call with analysts. That’s based on the outlook that oilfield activity starts to normalize by the end of this quarter, he said Wednesday.