Bulletin
Investor Alert

Market Pulse Archives

Jan. 17, 2020, 7:04 a.m. EST

Schlumberger's stock surges after profit and revenue beat expectations

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Schlumberger Ltd. (SLB)
  • X
    VanEck Vectors Oil Services ETF (OIH)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Shares of Schlumberger Ltd. /zigman2/quotes/201012972/lastsale SLB -6.67% rallied 1.7% in premarket trading Friday, after the oil services company reported fourth-quarter profit and revenue that exceeded expectations. Net income fell to $333 million, or 24 cents a share, from $538 million, or 39 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to 39 cents, up from 36 cents, and above the FactSet consensus of 37 cents. Revenue rose to $8.32 billion from $8.18 billion, beating the FactSet consensus of $8.16 billion, as revenue from its reservoir characterization, drilling, production and Cameron business segments all topped expectations. Free cash flow was $1.5 billion for the quarter and $2.7 billion for the year. "After a strong free cash flow performance in the second half of 2019, we are confident in our ability to further improve cash flow generation in 2020," said Chief Executive Olivier Le Peuch. The stock has run up 21.6% over the past three months through Thursday, while the VanEck Vectors Oil Services ETF /zigman2/quotes/207596637/lastsale OIH -6.47% has gained 13.9% and the S&P 500 /zigman2/quotes/210599714/realtime SPX -4.41% has advanced 10.6%.

/zigman2/quotes/201012972/lastsale
US : U.S.: NYSE
$ 12.59
-0.90 -6.67%
Volume: 25.39M
April 1, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
15.89%
Market Cap
$18.73 billion
Rev. per Employee
$328,150
loading...
/zigman2/quotes/207596637/lastsale
US : U.S.: NYSE Arca
$ 3.76
-0.26 -6.47%
Volume: 7.70M
April 1, 2020 8:00p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
2,470.50
-114.09 -4.41%
Volume: 3.67B
April 1, 2020 5:09p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.