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The world's largest oil fields service company Schlumberger reported better than expected Q3 earnings Friday. The report reflected the expected reduction in North America land activity and seasonal activity in the Northern Hemisphere.

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Schlumberger Ltd NYSE: SLB Reported Before Open Friday

$0.43 EPS Beat $0.40 EPS as Expected AND $8.5 Billion as Forecast in Revenue 


Schlumberger Limited (NYSE:SLB) reported third quarter of 2019 adjusted 43 cents per share, from 46 cents per share last year, hurt by higher expenses but three cents higher than what the market expected. SLB revenues was $8.5 billion flat year-over year and in line with the street estimate. Strength in international activity was offset by pricing weakness in North America.

Schlumberger Ltd NYSE: SLB

Market Reaction> Pre-market $32.31 +0.42 (+1.32%)


  • Schlumberger Revenue from international markets increased 8% to $5.6 billion
  • North America revenue slid 11% to $2.85 billion.

 Schlumberger Q3 2019


Schlumberger CEO Olivier Le Peuch said in a statement, “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.”

The company continues to get hurt by the negative sentiments on the oil & gas industry, which is particularly sensitive to the global economic slowdown. The oilfield services industry continues to face low capacity utilization and depressed margins due to lower exploration and production capital expenditure.

Schlumberger CEO and Chairman Paal Kibsgaard stepped down on Aug. 1. COO Olivier Le Peuch took over as chief executive and join the board.



Source: SLB, AlphaStrret

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