Schlumberger (SLB) Q3 Earnings In-Line, Revenues Lag

Houston, TX-based Schlumberger Limited (SLB – Free Report) is a leading oilfield services company, providing technology, project management, and information services to the global oil and gas industry.

Schlumberger’s reporting segments can be categorized under four segments: Reservoir Characterization, Drilling, Production, and Cameron. In the last four trailing quarters, the company has reported a positive average earnings surprise of 7.58%.

Currently, Schlumberger has a Zacks Rank #3 (Hold) but that could change following its third quarter 2017 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:

Earnings: Earnings per share (excluding special items) came in at 42 cents, in-line with the Zacks Consensus Estimate.

Revenue: Revenues of $7,905 million came slightly below the Zacks Consensus Estimate of $7,910 million.

Key Stats: Pre-tax operating income from Reservoir Characterization segment was $311 million, down 5% year over year. However, Drilling Group contributed income of $301 million, surged 38% year over year. Also, income from Production Group jumped 212% to $283 million.

Schlumberger N.V. Price and EPS Surprise