Energy

Schlumberger (NYSE:SLB) reported quarterly earnings of $0.78 per share which beat the analyst consensus estimate of $0.77 by 1.3 percent. This is a 23.81 percent increase over earnings of $0.63 per share from the same period last year. The company reported quarterly sales of $8.31 billion which missed the analyst consensus estimate of $8.33 billion by 0.24 percent. This is a 11.14 percent increase over sales of $7.48 billion the same period last year.

Schlumberger Q3 Adj. EPS 78 Cents Vs. 63 Cents a Year Ago, Beats FactSet Consensus 77 Cent。

Schlumberger Says Continues To Target To Return $2B To Shareholders This Year

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lower our 12-month target to $70, down $1, which reflects a 13.8x multiple of EV to projected ’24 EBITDA, a premium to peers. We think a peer premium is merited based on SLB’s peer-leading international and offshore exposure (80% of ’22 revenues vs. a peer average of 66%). We cut our ’23 EPS estimate by $0.04 to $2.95, and lift ’24’s by $0.02 to $3.72. Q3 EPS of $0.78 vs. $0.63, beat consensus by $0.01. Q3 revenue ($8.3B) grew 11% Y/Y, driven by its international segment (+12%). On Wednesday (October 18), the U.S. lifted most of its restrictions against Venezuelan crude for six months. While it is still in the early stages, we think SLB should stand to benefit against its peers, given its track record