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”
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”
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 Field Services Giant SLB Earnings Beat Expectations, Raises Dividend
The world’s largest oil fields service company SLB (formerly known as Schlumberger) reported better than expected fourth quarter earnings Friday before the market opened. SLB increased its quarterly dividend by 43%, raised it to 25.0 cents a share from 17.5 cents a share. Higher demand for its services and equipment, as producers capitalize on the global energy crisis and higher crude and natural gas production. Growth was driven by its core divisions. The oil service giant’s peers Baker Hughes (BKR) … Continue reading “Oil Field Services Giant SLB Earnings Beat Expectations, Raises Dividend”
Halliburton Earnings Doubled on Structural demand for More Oil and Gas Supply
Houston-based oil and gas servicing giant Halliburton reported better than expected third quarter earnings Tuesday before the market. HAL followed up last quarters ‘biggest since 2018 numbers’ by more than doubling the figure from a year earlier with revenue up 6% from the previous quarter. HAL stock was trading up 1.05% on the news. Improved North American and international markets for drilling, completion, and production with $HAL’s aggressive approach to cutting costs flowed through. Peers Schlumberger and Baker Hughes also … Continue reading “Halliburton Earnings Doubled on Structural demand for More Oil and Gas Supply”
Oil Drilling Ramp and Record Natural Gas Production Deliver for Schlumberger
The world’s largest oil fields service company Schlumberger reported better than expected third quarter earnings Friday before the market opened. SLB reported its strongest adjusted profit since 2015 sending $SLB up to $48.65 +2.96 (+6.48%) after the releases. Higher demand for its services and equipment, as producers capitalize on the global energy crisis and rebound in crude and natural gas prices. Growth was driven by its core divisions. Updated: The oil service giant results compared with its peers Baker Hughes … Continue reading “Oil Drilling Ramp and Record Natural Gas Production Deliver for Schlumberger”
What to Expect from Schlumberger Earnings with OPEC+ and Record Natural Gas Production
The world’s largest oil fields service company Schlumberger report third quarter earnings Friday before the market open, stepping up this quarter’s Energy earnings. Last quarter $SLB increased its full fiscal year outlook as it’s EPS soared 66%. Higher demand for its services and equipment, as producers capitalize on a rebound in crude and natural gas prices. Growth was driven by its core divisions. The oil service giant results compare with its peers Baker Hughes (BKR) on Wednesday and Halliburton (HAL) … Continue reading “What to Expect from Schlumberger Earnings with OPEC+ and Record Natural Gas Production”