AdrianHancu
Schlumberger (NYSE:SLB) is scheduled to announce Q3 earnings results on Friday, Oct. 21, before market open.
The consensus EPS estimate is $0.55 (+52.8% Y/Y) and the consensus revenue estimate is $7.1B (+21.4% Y/Y).
Over the last 2 years, SLB has beaten EPS estimates 100% of the time and revenue estimates 75% of the time.
Over the last 3 months, EPS estimates have seen 18 upward revisions, while revenue estimates have seen 13 upward revisions.
The oilfield services firm’s shares rose after Q2 earnings topped estimates, driven by a rise in offshore activity, and its full-year guidance was raised. At the time, CEO Olivier Le Peuch said he expects “very robust” drilling activity in H2, as heightened concern over energy security “continues to drive structural activity increase”.
SA contributor Daniel Jones in a bullish analysis said Schlumberger’s (SLB) management is playing the long game and shares are attractively priced right now.
Recent news:
- Schlumberger (SLB) is evaluating unspecified options for its 10K Russian employees as the Ukraine war escalates, CEO Olivier Le Peuch told Reuters. The firm has come under pressure for staying in the country.
- Schlumberger (SLB) is exploring a sale of part of its U.S. valves business for over $800M, Bloomberg reported.
- The firm and Saudi Aramco (ARMCO) unveiled plans to develop a digital platform to provide sustainability solutions for hard-to-abate industrial sectors.
- Schlumberger (SLB), Aker Solutions (OTC:AKRTF) and Subsea 7 (OTCPK:SUBCY) will reportedly form a JV combining their subsea oil and gas construction business.
Shares of Schlumberger (SLB) gained ~44% YTD, outperforming the broader S&P 500 index.
