SLB Stock Recent News

Schlumberger (SLB) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.

SLB recently reported strong Q2 earnings, but the North American rig count data indicates a bearish outlook for the business.

SLB is not cheap but has been growing revenue and earnings at impressive rates. The market has been penalizing the company due to misunderstanding Saudi Arabia's shift from new offshore developments to the Jafurah unconventional gas field. SLB will benefit from the Saudi focus on Jafurah and the latest earnings report confirms the growth trend in the Middle East remains intact.

Schlumberger Limited (NYSE:SLB ) Q2 2024 Results Conference Call July 19, 2024 9:30 AM ET Company Participants James McDonald - SVP of IR & Industry Affairs Olivier Le Peuch - CEO Stephane Biguet - EVP & CFO Conference Call Participants James West - Evercore ISI David Anderson - Barclays Scott Gruber - Citigroup Arun Jayaram - JPMorgan Neil Mehta - Goldman Sachs Dan Kutz - Morgan Stanley Luke Lemoine - Piper Sandler Saurabh Pant - Bank of America Marc Bianchi - TD Cowen Kurt Hallead - Benchmark Operator Thank you everyone for standing by. Welcome to the SLB Second Quarter Earnings Conference Call.

U.S. stocks traded lower midway through trading, with the Dow Jones index falling more than 300 points on Friday.

SLB's Q2 earnings gain from significant contributions from Middle East & Asia projects and enhanced offshore exposure in key regions, including the Gulf of Mexico.

Schlumberger (SLB) came out with quarterly earnings of $0.85 per share, beating the Zacks Consensus Estimate of $0.83 per share. This compares to earnings of $0.72 per share a year ago.

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

LONDON--(BUSINESS WIRE)--Regulatory News: SLB (NYSE: SLB) today announced results for the second-quarter 2024. Second-Quarter Results (Stated in millions, except per share amounts) Three Months Ended   Change Jun. 30, 2024   Mar. 31, 2024   Jun. 30, 2023   Sequential   Year-on-year Revenue $9,139 $8,707 $8,099 5%   13% Income before taxes - GAAP basis $1,421 $1,357 $1,293 5%   10% Income before taxes margin - GAAP basis 15.5% 15.6% 16.0% -4 bps   -42 bps Net income attributable to SLB - GAAP ba.

SLB's stock (NYSE: SLB), formerly known as Schlumberger, which provides oil field services including drilling, completion, and production solutions to upstream oil & gas companies in the U.S. and abroad, is scheduled to report its fiscal second-quarter results on Friday, July 19. We expect SLB's stock to likely trade higher with revenues and earnings coming slightly ahead of market expectations in Q2.