Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Weatherford (NASDAQ: WFRD) and the best and worst performers in the upstream & integrated industry.

Upstream and integrated energy companies engage in oil and gas exploration, production, and often refining and marketing operations. Vertical integration provides revenue diversification and hedging against commodity price volatility. Tailwinds include strong global energy demand, disciplined capital allocation improving returns, and strategic positioning across the value chain. Technological advancements enhance recovery rates and operational efficiency. Headwinds include commodity price cyclicality, substantial capital requirements, regulatory and permitting challenges, and mounting pressure from the energy transition. ESG concerns increasingly affect financing access and investor appetite, while geopolitical risks and operational hazards add complexity to global operations.

The 21 upstream & integrated stocks we track reported a very strong Q1. As a group, revenues beat analysts’ consensus estimates by 6.3%.

In light of this news, share prices of the companies have held steady as they are up 4.7% on average since the latest earnings results.

Weatherford (NASDAQ: WFRD)

Operating in roughly 75 countries with over 300 facilities worldwide, Weatherford (NASDAQ: WFRD) provides equipment and services for drilling, completing, and maintaining oil and gas wells.

Weatherford reported revenues of $1.15 billion, down 3.4% year on year. This print exceeded analysts’ expectations by 0.6%. Overall, it was a satisfactory quarter for the company with a beat of analysts’ EPS estimates but a miss of analysts’ EBITDA estimates.

Girish Saligram, President and Chief Executive Officer, commented, “I am deeply grateful to and proud of the One Weatherford team for delivering excellent operating results in the midst of a very complex and challenged environment in the first quarter. With significant operational disruptions in the Middle East, we stayed focused on what matters the most - protecting our employees, maintaining continuity of operations for our customers, and controlling the variables we could. While we faced losses in revenue and increased costs due to the Iran conflict, we were able to offset the impact of those through additional contributions from other parts of the business.

Interestingly, the stock is up 7.8% since reporting and currently trades at $107.44.

Is now the time to buy Weatherford? Access our full analysis of the earnings results here, it’s free.

Best Q1: Noble Corporation (NYSE: NE)

With origins dating back over a century to 1921, Noble Corporation (NYSE: NE) operates drilling rigs that oil and gas companies charter to drill wells in deep ocean waters and shallow seas.

Noble Corporation reported revenues of $785.7 million, down 10.2% year on year, outperforming analysts’ expectations by 6.8%. The business had an incredible quarter with a beat of analysts’ EPS and EBITDA estimates.

The market seems content with the results as the stock is up 1.5% since reporting. It currently trades at $50.29.

Is now the time to buy Noble Corporation? Access our full analysis of the earnings results here, it’s free.

Core Laboratories (NYSE: CLB)

With roots dating back to the first commercial oil boom, Core Laboratories (NYSE: CLB) analyzes rock and fluid samples from oil and gas reservoirs to help energy companies optimize production and recovery.

Core Laboratories reported revenues of $121.8 million, down 1.4% year on year, exceeding analysts’ expectations by 0.7%. Still, it was a disappointing quarter as it posted a significant miss of analysts’ EBITDA and EPS estimates.

As expected, the stock is down 2.5% since the results and currently trades at $16.86.

Read our full analysis of Core Laboratories’s results here.

Solaris Energy Infrastructure (NYSE: SEI)

After acquiring Mobile Energy Rentals in 2024 to enter the distributed power market, Solaris Energy Infrastructure (NYSE: SEI) leases mobile power equipment and provides logistics services for oil and gas well completion.

Solaris Energy Infrastructure reported revenues of $196.2 million, up 55.3% year on year. This print surpassed analysts’ expectations by 6.8%. It was an incredible quarter as it also put up a beat of analysts’ EPS and EBITDA estimates.

Solaris Energy Infrastructure pulled off the fastest revenue growth among its peers. The stock is up 1.5% since reporting and currently trades at $71.70.

Read our full, actionable report on Solaris Energy Infrastructure here, it’s free.

Halliburton (NYSE: HAL)

Behind nearly every oil and gas well drilled worldwide, Halliburton (NYSE: HAL) provides drilling, completion, and production services that help oil and gas companies extract hydrocarbons from underground reservoirs.

Halliburton reported revenues of $5.40 billion, flat year on year. This number beat analysts’ expectations by 1.9%. Overall, it was a strong quarter as it also recorded a beat of analysts’ EPS estimates and a decent beat of analysts’ EBITDA estimates.

The stock is up 13.7% since reporting and currently trades at $41.72.

Read our full, actionable report on Halliburton here, it’s free.

Market Update

Late in 2025 into early 2026, there was hand wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.