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Recap: Schlumberger Q2 Earnings

Benzinga Insights
·1 min read

Shares of Schlumberger (NYSE:SLB) were flat in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share decreased 85.71% year over year to $0.05, which beat the estimate of ($0.01).

Revenue of $5,356,000,000 declined by 35.23% from the same period last year, which missed the estimate of $5,400,000,000.

Looking Ahead

Earnings guidance hasn't been issued by the company for now.

Schlumberger hasn't issued any revenue guidance for the time being.

Conference Call Details

Date: Jul 24, 2020

View more earnings on SLB

Time: 08:30 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/5g89fmg8

Technicals

Company's 52-week high was at $41.14

Company's 52-week low was at $11.87

Price action over last quarter: Up 26.36%

Company Description

Schlumberger is the world's largest supplier of products and services to the oil and gas industry. The company operates its business via multiple groups: Reservoir Characterization, Drilling, Production, and Cameron. The firm is investing more than any other services firm to make its offerings more bundled, which it believes is likely to be one of the key industry trends during the next 10 years. Its efforts on this front are most visible via its Schlumberger Production Management (SPM) business, which now accounts for 10% of its revenue.

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