July 26, 2018 - 7:05 AM EDT
Print Email Article Font Down Font Up Charts

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:


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:


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.


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.


Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.


The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email [email protected]. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.


A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.


This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.


For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: [email protected]
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

SOURCE: Active-Investors

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

News by QuoteMedia

Legal Notice