SLB Stock Recent News

SLB's Q3 earnings benefit from broad-based growth and margin expansion in the Middle East, Asia and offshore North America, alongside cost optimization and digital solutions.

Schlumberger (SLB) came out with quarterly earnings of $0.89 per share, beating the Zacks Consensus Estimate of $0.88 per share. This compares to earnings of $0.78 per share a year ago.

Earnings per share came in at $0.89 in the third quarter, compared with $0.85 in the second quarter and analyst expectations for $0.88.

SLB beat analysts' estimates for third-quarter profit on Friday, as the oilfield services provider benefited from steady demand for its drilling equipment and technology in its international markets.

Schlumberger Limited SLB will release earnings results for its third quarter, before the opening bell on Friday, Oct. 18.

SLB's overall business is expected to remain bearish due to a moderation in drilling activity among upstream companies globally.

In the closing of the recent trading day, Schlumberger (SLB) stood at $44.78, denoting a +0.4% change from the preceding trading day.

Schlumberger's international division shows robust growth, particularly in the Middle East and Asia, despite North America's decline due to weak prices and lower drilling activities. Tailwinds from offshore projects and the company's focus on geographic expansion along with operational improvements should drive long-term revenue growth and margin improvement. SLB is trading at a discount to historical levels, making it an attractive buy given its promising long-term outlook.

Schlumberger, with a $62 billion market cap, faces challenges during downturns but has rebuilt operations to generate strong returns. The company's future opportunities and shareholder returns are promising, despite risks tied to industry downturns and weaker oil prices. The Federal Reserve's potential rate cuts could signal an economic downturn, impacting Schlumberger's ability to drive future returns.

SLB and Velesto partner to enhance rig performance and reduce emissions with advanced digital tools, marking a three-year collaboration to boost drilling efficiency.