Group 1 - The author expresses a bullish outlook on oil and gas, offshore services, commodities, and emerging markets, while being bearish on energy transition [1] - The article emphasizes that the author's opinions are personal and not investment advice, highlighting the importance of conducting due diligence [2][3] Group 2 - The author holds a beneficial long position in SLB shares, indicating confidence in the company's performance [2] - There is a clear distinction made that past performance does not guarantee future results, underscoring the inherent uncertainties in investment [3]

Earnings Performance - SLB reported a 10% year-over-year increase in Q3 revenue to $9.16 billion, missing consensus estimates by $100 million [1] - Earnings per share (EPS) came in at 83 cents, 4 cents below forecasts [1] - North American revenue rose 3% to $1.69 billion, constrained by lower drilling activity in U.S. land due to gas prices and capital discipline by operators [1] - International revenue surged 12% to $7.43 billion, driven by higher demand in the Middle East & Asia, while Latin American revenue declined by 3% [1] Impact of Commodity Prices - Lower commodity prices negatively affected SLB's quarterly results, leading customers to reduce activity and discretionary spending [1] - The decline in oil and natural gas prices also dragged down the S&P Energy Sector Index [1] - SLB shares fell approximately 4% to $42.25 on Friday, with a year-to-date decline of 19% [2] CEO Commentary on Market Conditions - CEO Olivier Le Peuch noted that commodity prices have been under pressure due to uncertainty around OPEC+ supply releases, weaker demand from China, and softer economic growth in the U.S. and Europe [2] - These factors resulted in a cautious approach by customers, impacting SLB's earnings [2] Industry Impact - SLB was not the only company affected by falling commodity prices, as the S&P Energy Sector Index also declined slightly [2]

Financial Data and Key Metrics Changes - The third-quarter earnings per share excluding charges and credits was $0.89, an increase of $0.04 sequentially and $0.11, or 14%, year-over-year [18] - Third-quarter revenue was $9.2 billion, essentially flat sequentially, but represented another quarter of margin expansion [19] - Adjusted EBITDA margin increased by 55 basis points to 25.6%, the highest level since Q1 2016 [19] Business Line Data and Key Metrics Changes - Digital & Integration revenue was $1.1 billion, up 4% sequentially, with margins expanding 456 basis points to 35.5% [20] - Reservoir Performance revenue was flat at $1.8 billion, with margins contracting 53 basis points due to an unfavorable technology mix [20] - Well Construction revenue decreased 3% sequentially to $3.3 billion, with margins decreasing 19 basis points [21] - Production Systems revenue increased 3% sequentially to $3.1 billion, with margins expanding 110 basis points to 16.7% [21] Market Data and Key Metrics Changes - Revenue in North America increased 3% sequentially, driven by higher offshore activity in the Gulf of Mexico, while U.S. land drilling activity remained constrained [8] - International markets saw steady revenue despite lower reactivity due to cautious discretionary spending influenced by commodity prices [8] - Revenue in Europe and Africa was largely unchanged, with strong production in North Africa offset by declines in Latin America [8] Company Strategy and Development Direction - The company aims to leverage its differentiated market positioning, digital leadership, and operational efficiency to navigate the evolving macro environment [7] - SLB is focused on maintaining margin expansion and expects to deliver full-year adjusted EBITDA margins at or above 25% for 2024 [16] - The company is well-positioned to benefit from long-cycle deepwater projects and gas investments, particularly in Asia and the Middle East [14] Management's Comments on Operating Environment and Future Outlook - Management noted that commodity prices have been under pressure due to oversupply concerns and weaker demand, leading to cautious spending by customers [13] - Despite current market conditions, long-term fundamentals for oil and gas remain strong, with increasing energy demand and a focus on energy security [14] - The company anticipates muted revenue growth in Q4, with a favorable mix of digital and product sales offset by budget exhaustion in U.S. land [16] Other Important Information - The company generated strong free cash flow of $1.81 billion in Q3, a $1 billion increase compared to the previous quarter [21] - SLB signed a definitive agreement to sell its interests in the Palliser APS project for approximately $430 million, which will reduce capital intensity and earnings volatility [22][23] - The company reaffirmed its commitment to return at least $4 billion to shareholders in 2025, reflecting confidence in cash flow generation [24] Q&A Session Summary Question: Can you discuss the drivers of margin expansion as we move into 2025? - Management expressed confidence in maintaining margin expansion through digital technology and cost optimization initiatives [27][28] Question: What were the key takeaways from the recent digital forum? - The forum was deemed a success, showcasing the digital value proposition and the acceleration of digital adoption among customers [30][31] Question: How does the sale of the Palliser Block impact financials? - The sale will remove approximately $500 million in revenue and $150 million in annual CapEx, along with significant future abandonment liabilities [45][46] Question: What is the outlook for deepwater projects driving growth beyond 2025? - Management indicated that deepwater projects are expected to remain a growth engine, with significant offshore FIDs anticipated [36] Question: How does the company view the pricing dynamics in the current environment? - The pricing environment is seen as constructive, with capital discipline in the industry supporting pricing stability [48] Question: What are the growth opportunities in the lithium extraction space? - The company is optimistic about its lithium DLE technology and plans to work with partners to commercialize it [50][51] Question: How will free cash flow and capital discipline impact returns to shareholders? - Management confirmed that free cash flow is expected to increase in 2025, supporting the commitment to return capital to shareholders [56][57]

SLB (SLB) reported third-quarter 2024 earnings of 89 cents per share (excluding charges and credits), which beat the Zacks Consensus Estimate of 88 cents. The bottom line also increased from the year-ago quarter’s level of 78 cents.The oilfield service giant recorded total quarterly revenues of $9.16 billion, which missed the Zacks Consensus Estimate of $9.28 billion. The top line improved from the year-ago quarter’s figure of $8.31 billion.The strong quarterly earnings were primarily driven by broad-based ...

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. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.14%. A quarter ago, it was expected that this world's largest oilfield services company would post earnings of $0.83 per share when it actually produced earnings of $0.85, delivering a surprise of 2.41%.Over the last ...

News Release Exhibit 99 SLB Announces Third-Quarter 2024 Results • Revenue of $9.16 billion was steady sequentially and increased 10% year on year • GAAP EPS of $0.83 increased 8% sequentially and 6% year on year • EPS, excluding charges and credits, of $0.89 increased 5% sequentially and 14% year on year • Net income attributable to SLB of $1.19 billion increased 7% sequentially and 6% year on year • Adjusted EBITDA of $2.34 billion increased 2% sequentially and 13% year on year • Cash flow from operations ...

Schlumberger Limited SLB will release earnings results for its third quarter, before the opening bell on Friday, Oct. 18.Analysts expect the Buffalo, New York-based company to report quarterly earnings at 88 cents per share, up from 71 cents per share in the year-ago period. SLB projects to report revenue of $9.25 billion for the quarter, compared to $7.58 billion a year earlier, according to data from Benzinga Pro.On Thursday, SLB agreed to sell its interests in Palliser Block.SLB shares gained 0.7% to clo ...

SLB (SLB) is set to report third-quarter 2024 results on Friday, before the opening bell.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.The Zacks Consensus Estimate for third-quarter earnings is pegged at 88 cents per share, implying growth of 12.8% from the year-ago reported number. The estimate was revised downward by three analysts in the past seven days against zero upward movements. The Zacks Consensus Estimate for third-quarter revenues is currently pegged at $9.3 billion, indi ...

The most recent trading session ended with Schlumberger (SLB) standing at $44.78, reflecting a +0.4% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.61% gain on the day. Meanwhile, the Dow experienced a rise of 0.97%, and the technology-dominated Nasdaq saw an increase of 0.33%.The world's largest oilfield services company's shares have seen an increase of 12.06% over the last month, surpassing the Oils-Energy sector's loss of 2.26% and the S&P 500's gain of 5.36%.Investor ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Schlumberger (SLB) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on October 18, 2024, might help the stock move higher if these key numbers are better than ...