July 26, 2018 - 7:05 AM EDT
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Free Research Report as Schlumberger's Quarterly Earnings Advanced 22.86%

LONDON, UK / ACCESSWIRE / July 26, 2018 / If you want access to our free earnings report on Schlumberger Ltd (NYSE: SLB), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=SLB. The Company reported its financial results on July 20, 2018, for the second quarter of the fiscal year 2018, ended June 30, 2018. The Company's earnings for Q2 FY18 were in-line with analysts' consensus estimates, but missed revenue forecasts. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Schlumberger most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For Q2 FY18, Schlumberger's total revenues reached $8.30 billion, reflecting an increase of 11.27% from $7.46 billion in Q2 FY17. The Company's revenue numbers missed analysts' consensus estimates by $60 million.

During the quarter under review, Schlumberger's North America's sales increased 42.55% to $3.14 billion on a y-o-y basis, while its Latin America's sales decreased 11.55% to $919 million on a y-o-y basis. Moreover, the Company's Europe/CIS/Africa's sales jumped 1.60% to $1.78 billion on a y-o-y basis, and its Middle-East & Asia's sales advanced 0.85% to $2.37 billion on a y-o-y basis in Q2 FY18.

Schlumberger had interest and other income of $40 million in Q2 FY18, 35.48% lower than $62 million in Q2 FY17. The Company had a pre-tax operating income of $1.10 billion in the reported quarter, 15.16% higher than $950 million in the year ago same quarter.

During Q2 FY18, Schlumberger's cost of revenues was $7.18 billion, 10.99% higher than $6.47 billion in Q2 FY17. For the reported quarter, the Company's research & engineering expenses fell 10.71% to $175 million on a y-o-y basis, while its general and administrative expenses increased 3.64% to $114 million on a y-o-y basis. Schlumberger had an income before taxes of $547 million in Q2 FY18 compared to $17 million in Q2 FY17.

Schlumberger's net income attributable to common shareholders was $430 million in the quarter ended June 30, 2018, compared to a net loss attributable to common shareholders of $74 million in the same period of last year. The Company had diluted earnings per share (EPS) of $0.31 in Q2 FY18 compared to diluted loss per share of $0.05 in Q2 FY17. The Company's reported results included workforce reductions. Excluding special items, Schlumberger had adjusted diluted EPS of $0.43 in the reported quarter, up 22.86% from $0.35 in the prior year's same quarter. This was consistent with analysts' consensus estimates for Q2 FY18.

Segment Details

During Q2 FY18, Schlumberger's Reservoir Characterization segment generated net revenues of $1.64 billion, down 6.99% on a y-o-y basis. The segment had an income before taxes of $350 million in Q2 FY18, 17.06% higher than $299 million in Q2 FY17, mainly due to the recovery in higher-margin Wireline activity and stronger sales of SIS software licenses.

Schlumberger's Drilling segment reported revenues of $2.23 billion in Q2 FY18, reflecting an increment of 10.76% from the previous year's comparable quarter. The segment's income before taxes fell 4.30% to $289 million in Q2 FY18 from $302 million in Q2 FY17. This was because mobilization of resources for new projects across the Company's international operations resulted in additional costs.

Schlumberger's Production segment's revenues rose 30.49% to $3.26 billion on a y-o-y basis in Q2 FY18. The segment had income before taxes of $316 million in the quarter under review compared to $221 million in the year ago corresponding quarter, reflecting an increase of 42.99%. This growth was led by an increased activity and operational efficiency improvements of OneStim hydraulic fracturing operations in the North America Land GeoMarket.

Schlumberger's Cameron segment reported revenues of $1.30 billion in Q2 FY18, up 2.37% on a y-o-y basis. The segment had income before taxes of $166 million in the reported quarter, 4.60% lower than $174 million in the previous year's same quarter.

Cash Matters

Schlumberger had cash and short-term investments of $3.05 billion as on June 30, 2018, representing a decrease of 40.09% from $5.09 billion as on December 31, 2017. The Company's long-term debt declined 6.79% to $13.87 billion as on June 30, 2018, from $14.88 billion as on December 31, 2017.

Schlumberger's cash flow from operations was $1.56 billion in the six months ended June 30, 2018, 2.71% higher than $1.51 billion in the comparable period of last year. The Company had a free cash outflow of $100 million in the first half of 2018 compared to $112 million in the comparable period of last year.

Schlumberger incurred a capital expenditure of $974 million in H1 FY18, up 10.18% from $884 million in H1 FY17.

Schlumberger distributed dividends of $1.39 billion in H1 FY18, down 0.57% from H1 FY17. The Company spent $200 million on the repurchase of stock in H1 FY18 compared to $770 million in H1 FY17.

Outlook

On July 18, 2018, Schlumberger's Board of Directors approved a quarterly cash dividend of $0.50 per share of outstanding common stock, payable on October 12, 2018, to stockholders of record as on September 05, 2018.

Stock Performance Snapshot

July 25, 2018 - At Wednesday's closing bell, Schlumberger's stock marginally advanced 0.40%, ending the trading session at $65.78.

Volume traded for the day: 7.58 million shares, which was above the 3-month average volume of 6.99 million shares.

Stock performance in the last month – up 0.53%

After yesterday's close, Schlumberger's market cap was at $92.45 billion.

The stock has a dividend yield of 3.04%.

The stock is part of the Basic Materials sector, categorized under the Oil & Gas Equipment & Services industry. This sector was up 1.0% at the end of the session.

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Source: ACCESSWIRE Investor Awareness (July 26, 2018 - 7:05 AM EDT)

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