Schlumberger (SLB) posts earnings in line, revenues fall short of expectations

Earnings in line with expectations: The world’s #1 oilfield services company Schlumberg limited liability company SLB reported first-quarter earnings per share from continuing operations (adjusted for fees and credits) of 38 cents, in line with the Zacks Consensus Estimate.

Estimate the history of trends and change surprises: Investors should note that the Zacks Consensus Estimate for the quarter remained unchanged over the past seven days.

Nevertheless, Schlumberger has an impressive track record of earnings surprises. Before the publication of the first quarter results, the company delivered positive surprises in two of the previous four quarters. Overall, the company has a surprising positive performance of 6.4% over the last four quarters.

Schlumberger Limited price and EPS surprise

Limited Schlumberger price and EPS surprise | Schlumberger limited offer

Revenues: Schlumberger reported revenues of $7,829 million, missing the Zacks Consensus Estimate of $7,852 million. However, this compared favorably with the previous year’s figure of $6,894 million.

Key Statistics: Pre-tax operating income from the Reservoir Characterization segment was $307 million, up 9% year-over-year. Additionally, the Drilling Group generated revenue of $293 million, up 28% year-over-year. Additionally, the Production Group’s revenue increased 96% to $216 million.

Zacks Rank: Schlumberger currently has a Zacks Rank of #3 (Hold), which may change following the earnings release.

(You can see see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)

Check out our full analysis of Schlumberger’s earnings report later!

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