Oil Field Services Giant SLB Reports International Revenue Jumped 18% in Q4

The world’s largest oil fields service company SLB (formerly known as Schlumberger) reported better than expected fourth quarter earnings before the market opened Friday. For the full year, revenue rose 18% year over year, while adjusted earnings jumped 37%. SLB also raised its quarterly dividend 10% to 27.5 cents from 25 cents. SLB reported adjusted earnings of 86 cents a share for the quarter, beating Wall Street’s call for 84 cents, according to FactSet. Revenue of $8.99 billion was above … Continue reading “Oil Field Services Giant SLB Reports International Revenue Jumped 18% in Q4”

Oil Field Services Giant SLB Reports Reduced Drilling in the U.S. and Gulf of Mexico

The world’s largest oil fields service company SLB (formerly known as Schlumberger) reported mixed third quarter earnings on lower-than-expected revenue Friday before the market opened. SLB EPS beat by a penny while total revenues came in roughly as expected. $SLB stock was down 4% after the release with concerns about and activity in the North American onshore market may have plateaued this year. Q3 net income rose to $1.12B, or $0.78/share, from $907M, or $0.63/share, in the year ago quarter, … Continue reading “Oil Field Services Giant SLB Reports Reduced Drilling in the U.S. and Gulf of Mexico”

Oil Field Services Giant SLB Reports International and Offshore Growth

The world’s largest oil fields service company SLB (formerly known as Schlumberger) reported better than expected second quarter earnings on lower-than-expected revenue Friday before the market opened. $SLB stock was down 1% after the release with concerns about and activity in the North American onshore market may plateau this year. Earnings per share rose to $0.72 per-share from $0.50 a year earlier, just above the consensus of $0.71. Revenue jumped 20% to nearly $8.1 billion but fell short of the … Continue reading “Oil Field Services Giant SLB Reports International and Offshore Growth”

Halliburton Generating Free Cash Flow Well Above Analyst Expectations

Houston-based oil and gas servicing giant Halliburton reported better than expected second quarter earnings Wednesday before the market. HAL posted net income of $610 million, adjusted net income per share of 77 cents, ahead of consensus 75 cents. Despite lower natural gas and oil prices HAL and fellow top oilfield services peers SLB and Baker Hughes (BKR) have been generating free cash flow well above analyst expectations. Revenue grew 14.3% to $5.8 billion year on year but slightly under expectations. … Continue reading “Halliburton Generating Free Cash Flow Well Above Analyst Expectations”

Oil Service Giant Baker Hughes Orders Rise 28%, Including $900 million in LNG Awards

Houston based energy services giant Baker Hughes reported stronger than expected second quarter earnings on Wednesday before the market open. The company sees Q3 and FY23 revenues in line with estimates BKR reported revenue of $5.7 billion for the first quarter of 2023, 25% over the same period last year, and slightly better than the 24% increase that Wall Street expected. Net income of $410 million handily beat expectations, compared to a loss of $839 million last year. Orders increased … Continue reading “Oil Service Giant Baker Hughes Orders Rise 28%, Including $900 million in LNG Awards”

Halliburton Earnings Double as Completion and Production Revenue Jump 45%

Houston-based oil and gas servicing giant Halliburton reported better than expected first quarter earnings Tuesday before the market. HAL posted net income of $651 million, or 72 cents a share, ahead of consensus 67 cents. Revenue grew 32.5% to $5.68 billion as completion and production revenue jumped 45% to $3.4 billion and drilling and evaluation revenue increased 17% to $2.3 billion. It wasn’t long ago oil services companies were debt laden and loss making, free cash flow continues to surge. HAL … Continue reading “Halliburton Earnings Double as Completion and Production Revenue Jump 45%”

Oil Field Services Giant SLB Reports Weaker Cashflow & Plateauing North American Activity

The world’s largest oil fields service company SLB (formerly known as Schlumberger) reported better than expected first quarter earnings Friday before the market opened. However, $SLB stock was down 4% after the release with concerns about reported weaker-than-expected cash flow and activity in the North American onshore market may plateau this year. Earnings per share were 63 cents, compared with an average estimate of 60 cents among analysts surveyed by FactSet. Revenue was $7.74 billion, compared with expectations for $7.44 … Continue reading “Oil Field Services Giant SLB Reports Weaker Cashflow & Plateauing North American Activity”

Oil Service Giant Baker Hughes Strongest Growth in LNG and New Energies Segments

Houston based energy services giant Baker Hughes reported stronger than expected first quarter earnings on Wednesday before the market open. BKR reported a a net profit of $576 million compared to a $72 million return for the same quarter of 2022 and a $182 million net profit in the previous quarter. Revenues were $5.7 billion for the first quarter of 2023, up 18% year-on-year. Orders were $7.6 billion were up 12% year-on-year in Q1. Growth was strongest in its liquefied … Continue reading “Oil Service Giant Baker Hughes Strongest Growth in LNG and New Energies Segments”

Halliburton Earnings Beat with Free Cash Flow Up 79% in a Year

Houston-based oil and gas servicing giant Halliburton reported better than expected fourth quarter earnings Tuesday before the market. HAL posted adjusted income of $656 million, or 72 cents per share, for the quarter compared with a 67 cent EPS consensus. It wasn’t long ago oil services companies were debt laden and loss making, free cash flow was up 79% y/y in Q4 2022. HAL followed up a mixed start to earnings season for the world’s top oilfield services providers with … Continue reading “Halliburton Earnings Beat with Free Cash Flow Up 79% in a Year”

Oil Service Giant Baker Hughes Received Record Orders of $8.0 Billion in Fourth Quarter

Energy services company Baker Hughes reported weaker than expected fourth quarter earnings on Monday before the market open. However, $BKR said it had record orders of $8.0 billion for the fourth quarter. Baker Hughes reported fourth-quarter net income of $182 million, or 18 cents a share. On an adjusted basis, BKR earned 38 cents a share, up from 25 cents a share a year before. Last quarter the company reported a loss of $17 million for the second-straight quarterly loss … Continue reading “Oil Service Giant Baker Hughes Received Record Orders of $8.0 Billion in Fourth Quarter”