Schlumberger (NYSE:SLB) earnings for the oilfield services company’s third quarter of 2019 have SLB stock up on Friday. That includes its earnings per share of 43 cents on revenue of $8.54 billion. These are both above Wall Street’s estimates, which cover EPS of 40 cents and revenue of $8.50 billion.
Now let’s dive deeper into the Schlumberger earnings report for the third quarter of the year.
- Per-share earnings are down 7% YoY from 46 cents.
- Revenue for the quarter remains largely unchanged from Q3 2018’s $8.50 billion.
- Operating income of $1.10 billion is 5% lower than $1.15 billion in the same period of the year prior.
- Operating margin for the period is 12.80%, as compared to 13.50% during the same time last year.
- The Schlumberger earnings report also sees the company’s net income from the third quarter of 2018 change to a net loss for the current quarter.
- Cash flow from operations during the quarter comes in at $1.70 billion.
- The company’s free cash flow for the quarter is sitting at $1.10 billion.
Olivier Le Peuch, CEO of SLB, says this about the Schlumberger earnings report.
“This quarter’s results reflected a macro environment of slowing production growth rate in North America land as operators maintained capital discipline, reducing drilling and frac activity. Our year-to-date high single-digit international revenue growth continues to be underpinned by international investment levels. Market uncertainty, however, is weighing on future oil demand outlook in a climate where trade concerns are seen as challenging global economic growth.”
SLB stock was up 1.29% as of Friday afternoon, but is down 14.27% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
