SLB to Report Q1 Earnings: What's in the Offing?

Core Viewpoint - SLB is expected to report first-quarter 2024 earnings on April 19, with a consensus estimate of 75 cents per share, reflecting a 19.05% improvement from the previous year [2] Group 1: Earnings Performance - In the last reported quarter, SLB's earnings were 86 cents per share, surpassing the Zacks Consensus Estimate of 84 cents, driven by higher evaluation and stimulation services [1] - SLB has consistently beaten earnings estimates in the past four quarters, with an average surprise of 2.09% [1] Group 2: Revenue Estimates - The Zacks Consensus Estimate for first-quarter revenues is $8.69 billion, indicating a 12.4% increase from the year-ago figure [2] Group 3: Factors Influencing Performance - SLB is expected to maintain stable performance due to long-term contracts with state-run entities, providing consistent revenues and protection against market fluctuations [3] - The company benefits from its strong presence in international markets and advanced technology for complex oilfield projects [3] - However, SLB may face challenges from declining oil and gas prices, influenced by a sluggish global economy and geopolitical tensions, with West Texas Intermediate crude price down 1.4% sequentially [3] Group 4: Earnings Whispers - Current analysis suggests that SLB may not achieve an earnings beat this quarter, with an Earnings ESP of -0.11% and a Zacks Rank of 3 (Hold) [4]