Free Research Report as Schlumberger’s Quarterly Revenues Jumped 14%; EPS Soared 52%

Stock Monitor: CARBO Ceramics Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 2, 2018 / Active-Investors.com has just released a free earnings report on Schlumberger Ltd (NYSE: SLB). If you want access to this report 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 first quarter fiscal 2018 operating and financial results on April 18, 2018. The world’s largest oilfield services Company outperformed top- and bottom-line expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for CARBO Ceramics Inc. (NYSE: CRR), which also belongs to the Basic Materials sector as the Company Schlumberger. Do not miss out and become a member today for free to access this upcoming report at:

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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:

www.active-investors.com/registration-sg/?symbol=SLB

Earnings Highlights and Summary

For the first quarter of the fiscal year 2018, Schlumberger recorded revenues of $7.83 billion compared to $6.89 billion in Q1 2017, but down 4% sequentially, led by the Cameron Group. The Company’s revenue numbers topped analysts’ estimates of $7.85 billion.

Schlumberger reported a net income of $525 million, or $0.38 per share, in Q1 2018 compared to $279 million, or $0.20 per share, in Q1 2017; and a net loss of $2.26 billion, or $1.63 loss per share, in Q4 2017.

Schlumberger’s earnings per share (EPS), excluding charges and credits, was $0.38 in Q1 2018 compared to $0.25 in Q1 2017 and $0.48 in Q4 2017. The Company’s EPS beat Wall Street’s estimates of $0.37.

Segment Results by Area

On a geographical basis, Schlumberger’s North America Area’s revenues grew 1% to $2.84 billion sequentially, as increased land activity was partially offset by lower offshore revenues due to reduced WesternGeco multi-client license sales.

During Q1 2018, Schlumberger’s revenues in the Latin America Area fell 16% to $870 million sequentially, from lower Schlumberger Production Management (SPM) project revenues in Ecuador on project delays, and decreased Production Group activity in Argentina due to a lower hydraulic fracturing stage count. The Company’s revenues in the Mexico & Central America GeoMarket was slightly higher from increased onshore workover activity.

Schlumberger’s revenues from Europe/CIS/Africa Area declined 6% to $1.70 billion on a q-o-q basis in Q1 2018, primarily due to the seasonal activity reduction in Russia and the Caspian Sea region that impacted all product lines. The UK & Continental Europe GeoMarket also experienced lower activity, which was made worse by delays from both weather and customer drilling plans, as well as reduced Software Integrated Solutions (SIS) software sales.

For Q1 2018, Schlumberger’s Middle-East & Asia Area’s revenues dropped 4% to $2.31 billion on a q-o-q basis, driven by pricing pressure and lower drilling and hydraulic fracturing activity on land in the Middle-East. Revenue in the Far East & Australia GeoMarket was lower due to reduced SIS software sales, while well construction project activity declined.

Segment Results by Group

Reservoir Characterization Group – During Q1 2018, Schlumberger’s Reservoir Characterization Group’s revenues decreased 5% to $1.6 billion sequentially, driven by the effects of a seasonal decline in Wireline activity in Russia and reduced WesternGeco multi-client license sales in the US, Gulf of Mexico, Asia, and Australia. Lower SIS software sales also contributed to the revenue decline. The Group’s pre-tax operating margin was 20%, 224 basis points (bps) lower on a sequential basis due to seasonally lower high-margin Wireline activity in Russia and decreased sales of SIS software.

Drilling Group – For Q1 2018, Schlumberger’s Drilling Group’s revenues fell 2% to $2.1 billion on a q-o-q basis, as strong directional drilling activity on land in North America was more than offset by seasonally lower drilling activity in the International Areas. The Group’s pre-tax operating margin was 14%, declining 85 bps sequentially as pricing momentum from the increased uptake of Drilling & Measurements and Bits & Drilling Tools technologies in the US was more than offset by the pricing pressure and seasonally lower activity in the international markets.

Production Group – For Q1 2018, Schlumberger’s Production Group’s revenues decreased 4% to $3.0 billion sequentially, primarily attributed to the decline in the international markets due to the seasonal drop in activity in Russia and lower hydraulic fracturing stage counts in Argentina and Saudi Arabia. The Group’s pre-tax operating margin was 7%, decreasing 291 bps sequentially due to the transient headwinds that impacted the hydraulic fracturing market in North America.

Cameron Group – For Q1 2018, Schlumberger’s Cameron Group’s revenues fell 7% to $1.3 billion sequentially, primarily due to seasonally lower project volumes and reduced product sales. OneSubsea revenues were lower on declining project backlog. The Group’s other product lines, including Drilling Systems, Surface Systems, and Valves & Measurement, recorded sequential revenue declines due to seasonality. The Group’s pre-tax operating margin was 13%, decreasing 169 bps sequentially, largely due to the declining project backlog in OneSubsea.

Share Repurchase and Dividend

During Q1 2018, Schlumberger repurchased 1.4 million shares of its common stock at an average price of $69.79 per share, for a total purchase price of $97 million.

On April 18, 2018, the Company’s Board of Directors approved a quarterly cash dividend of $0.50 per share of outstanding common stock, payable on July 13, 2018, to stockholders of record as on June 06, 2018.

Stock Performance Snapshot

May 01, 2018 – At Tuesday’s closing bell, Schlumberger’s stock slightly fell 0.23%, ending the trading session at $68.40.

Volume traded for the day: 6.20 million shares.

Stock performance in the last month – up 7.75%; previous six-month period – up 7.63%; and year-to-date – up 1.50%

After yesterday’s close, Schlumberger’s market cap was at $94.83 billion.

The stock has a dividend yield of 2.92%.

The stock is part of the Basic Materials sector, categorized under the Oil & Gas Equipment & Services industry.

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