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Schlumberger Limited Q1 Profit Beats, But Revenue Misses As Int'l Drags

SLB – Reports EPS in-line with estimates. Misses on revenues.

Schlumberger Limited (NYSE:SLB) early Friday posted mixed first quarter earnings results, as the oil & gas industry continues its slow recovery from its biggest decline in history.

The Houston-based oilfield services provider reported Q1 earnings per share (EPS) of $0.25, which was in-line with the Wall Street consensus estimate of $0.25.

Revenues rose 5.7% from last year to $6.89 billion, missing analysts’ view for $6.98 billion, however.

North America revenues rose amid higher shale activity, while offshore activity declined. SLB’s Drilling Group revenue fell 1% sequentially to $2.0 billion, hurt by pricing pressures overseas.

The company commented via press release:

“As we begin the recovery from one of the deepest downturns on record, we see four areas as critical for the industry to restore its strength and advance its capabilities. They areā€”the need for higher E&P spending to meet growing hydrocarbon demand over the coming years; the need to protect and encourage investments in R&E throughout the entire oil and gas value chain; the need for new business models that foster closer technical collaboration and commercial alignment between operators and suppliers; and the need for broader and more integrated technology platforms that combine hardware, software, data, and expertise.”

Schlumberger Limited shares rose $0.23 (+0.30%) in premarket trading Friday. Year-to-date, SLB has declined -8.30%, versus a 5.74% rise in the benchmark S&P 500 index during the same period.

SLB currently has a POWR Rating of B (Buy), and is ranked #3 of 52 stocks in the Energy – Services category.

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SLB at a Glance

SLB Current POWR Rating™
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SLB Current Price $68.43 3.92%
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SLB Price Reaction

The day of this event (Apr. 21, 2017)
SLB Closing Price$72.64 2.18%
SLB Volume14,980,383
137.99% from avg
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SLB 1-mo return2.77%
After this event
SLB 1-day return3.25%
SLB 3-day return3.24%
SLB 5-day return5.40%

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