Group 1: Company Overview - National Energy Services Reunited (NESR) shares increased by 14.3% to close at $14.1, with a notable trading volume compared to typical sessions, and a total gain of 20.3% over the past four weeks [1][2] - NESR is one of the largest oilfield service providers in the Middle East and North Africa (MENA) region, benefiting from increased demand for oilfield services due to rising oil and gas demand [2] Group 2: Market Dynamics - The company is experiencing growth in drilling activity in the MENA region, particularly in Algeria, Libya, the UAE, Oman, and Kuwait, while also expanding into Latin America, specifically Guyana and Brazil [2] - NESR is focusing on securing a robust backlog and building a solid project pipeline to ensure sustained demand for its services and maintain profitability amid rising global oil and gas demand [2] Group 3: Financial Performance Expectations - NESR is expected to report quarterly earnings of $0.15 per share, reflecting a year-over-year decline of 51.6%, with revenues projected at $291.25 million, down 13.4% from the previous year [3] - The consensus EPS estimate for NESR has been revised 25% lower over the last 30 days, indicating a negative trend in earnings estimate revisions, which typically does not lead to price appreciation [4] Group 4: Industry Comparison - NESR is part of the Zacks Oil and Gas - Mechanical and Equipment industry, where USA Compression Partners (USAC) has a Zacks Rank of 2 (Buy) and is expected to report an EPS of $0.22, reflecting a 69.2% increase year-over-year [5][6]

Core Viewpoint - Tenaris S.A. reported its financial results for the third quarter of 2025, showing mixed performance compared to previous periods, with net sales slightly increasing year-on-year but declining sequentially, while operating income improved. Financial Performance - Net sales for Q3 2025 were $2,978 million, a 2% increase from Q3 2024 but a 3% decrease from Q2 2025 [3] - Operating income rose to $597 million, up 11% year-on-year and 2% sequentially [3] - Net income decreased by 1% year-on-year to $453 million, and fell 16% from the previous quarter [3] - EBITDA for Q3 2025 was $753 million, reflecting a 9% increase year-on-year, with an EBITDA margin of 25.3% [3][11] Segment Analysis - Tubes segment net sales decreased by 2% sequentially to $2,875 million but increased by 3% year-on-year [10] - Seamless pipe sales volume decreased by 3% sequentially but increased by 5% year-on-year, while welded pipe sales volume increased by 11% sequentially [10] - The North America region showed a 3% increase in net sales compared to Q2 2025, while Europe experienced a 12% decline [10] Cash Flow and Liquidity - Free cash flow for Q3 2025 was $133 million, down from $373 million in Q3 2024, primarily due to a $312 million increase in working capital [5][18] - The net cash position decreased to $3,483 million, impacted by $351 million spent on share buybacks [5][18] Dividend Announcement - The board approved an interim dividend of $0.29 per share, totaling approximately $300 million, with payment scheduled for November 26, 2025 [6][7] Market Outlook - Oil prices have softened due to increased inventories and production, leading to a volatile market environment [6] - Despite a reduction in drilling activity in the U.S., overall drilling remains resilient as operators focus on long-term strategies [8] - The company anticipates sales for Q4 2025 to remain stable compared to Q3, although costs and margins will be affected by tariff increases [9]

Core Insights - Schlumberger's total revenue for the quarter ending September 2025 was $8.93 billion, reflecting a year-over-year decline of 2.5% [4] - The company's international revenue streams are crucial for assessing its financial resilience and growth prospects [2][3] International Revenue Breakdown - Latin America contributed $1.48 billion, accounting for 16.6% of total revenue, with a surprise decline of -2.91% compared to analyst expectations of $1.53 billion [5] - Middle East & Asia generated $3 billion, representing 33.6% of total revenue, with a surprise decline of -1.04% against expectations of $3.03 billion [6] - Europe & Africa provided $2.43 billion, making up 27.3% of total revenue, exceeding the consensus estimate of $2.41 billion by +1.02% [7] Future Revenue Expectations - Analysts project Schlumberger's revenues for the current fiscal quarter to reach $9.5 billion, an increase of 2.3% year-over-year, with expected contributions of 17.3% from Latin America ($1.65 billion), 34.4% from Middle East & Asia ($3.26 billion), and 27% from Europe & Africa ($2.56 billion) [8] - For the full year, total annual revenue is expected to be $35.47 billion, a decrease of 2.3% compared to the previous year, with projected contributions of 17.4% ($6.16 billion) from Latin America, 34.5% ($12.25 billion) from Middle East & Asia, and 27% ($9.58 billion) from Europe & Africa [9] Market Performance and Outlook - The reliance on international markets presents both opportunities and challenges for Schlumberger, making it essential to track international revenue trends for future projections [10] - The company's current Zacks Rank is 4 (Sell), indicating potential underperformance in the near term [12] - Over the past month, Schlumberger's stock has declined by 1.4%, while the Zacks S&P 500 composite increased by 1.2% [13]

Core Points - KLX Energy Services Holdings, Inc. will report its 2025 third quarter financial results on November 6, 2025, at 10:00 a.m. Eastern Time [1][2] - The conference call can be accessed via phone or live webcast, with a replay available until November 20, 2025 [2] Company Overview - KLX is a growth-oriented provider of diversified oilfield services, focusing on drilling, completion, production, and intervention activities for technically demanding wells [3] - The company operates over 60 service and support facilities across the United States, catering to both conventional and unconventional oil and natural gas exploration and production companies [3] - KLX's services are supported by technically skilled personnel and a broad portfolio of innovative in-house manufacturing, repair, and maintenance capabilities [3]

Core Insights - Schlumberger reported quarterly earnings of $0.69 per share, exceeding the Zacks Consensus Estimate of $0.66 per share, but down from $0.89 per share a year ago, indicating an earnings surprise of +4.55% [1] - The company posted revenues of $8.93 billion for the quarter ended September 2025, slightly missing the Zacks Consensus Estimate by 0.02% and down from $9.16 billion year-over-year [2] - Schlumberger shares have underperformed the market, losing about 14.1% since the beginning of the year compared to the S&P 500's gain of 12.7% [3] Earnings Outlook - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the next quarter is $0.74 on revenues of $9.51 billion, and for the current fiscal year, it is $2.86 on revenues of $35.46 billion [7] Industry Context - The Oil and Gas - Field Services industry, to which Schlumberger belongs, is currently ranked in the bottom 28% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor sentiment [5]

Core Insights - SLB is scheduled to report its third-quarter 2025 results on October 17, with adjusted earnings expected at 67 cents per share, reflecting a 24.7% decline from the previous year [1][2][9] - Revenue is projected to be $8.9 billion, indicating a 2.4% decrease compared to the same quarter last year [3][9] - The pricing environment for WTI crude oil has been less favorable in the third quarter of 2025, which may have negatively impacted demand for SLB's oilfield services [4][5][9] Earnings Performance - In the last reported quarter, SLB's adjusted earnings of 74 cents per share exceeded the Zacks Consensus Estimate of 73 cents, driven by international growth and strong digital revenues [1] - SLB has missed the Zacks Consensus Estimate for earnings once in the last four quarters and has beaten it three times, with an average surprise of 0.51% [2] Market Conditions - Average spot prices for WTI crude oil in July, August, and September were $68.39, $64.86, and $63.96 per barrel, respectively, compared to higher prices in the same months of the previous year [4] - The decline in crude oil prices is expected to have softened demand for SLB's services in the September quarter [5][9] Earnings Expectations - The Earnings ESP for SLB is -2.82%, indicating that the model does not predict an earnings beat for this reporting cycle [6] - SLB currently holds a Zacks Rank of 4 (Sell), which further suggests a challenging outlook for the upcoming earnings report [6]

Core Viewpoint - Tenaris S.A. reported its financial results for the second quarter of 2025, showing a sequential increase in net sales and operating income compared to the first quarter of 2025, but a decline compared to the same quarter in 2024 [2][3][4]. Financial Performance - Net sales for Q2 2025 were $3,086 million, a 6% increase from Q1 2025 but a 7% decrease from Q2 2024 [3][4]. - Operating income rose to $583 million in Q2 2025, up 6% sequentially and 14% year-on-year [3][4]. - Net income for Q2 2025 was $542 million, reflecting a 5% increase from Q1 2025 and a 56% increase from Q2 2024 [3][4]. - EBITDA for Q2 2025 was $733 million, a 5% increase from Q1 2025 and a 13% increase from Q2 2024 [3][4]. Segment Analysis - Tubes segment net sales increased 6% sequentially to $2,920 million but decreased 7% year-on-year [9][10]. - Seamless pipe sales volume was 803 thousand metric tons in Q2 2025, a 4% increase from Q1 2025, while welded pipe sales volume decreased by 16% [9][10]. - North America saw a 13% increase in net sales for the Tubes segment compared to Q1 2025, driven by higher OCTG prices [9][10]. Cash Flow and Liquidity - Free cash flow for Q2 2025 was $538 million, with a net cash position of $3.7 billion as of June 30, 2025 [5][18]. - Cash generated from operating activities was $673 million in Q2 2025, down from $821 million in Q1 2025 [17][18]. Market Outlook - Oil prices have softened due to OPEC+ production cuts and subdued demand growth amid economic uncertainty [6][7]. - U.S. OCTG imports are expected to decline due to increased tariffs, which may lead to higher prices over time [7]. Operational Efficiency - Selling, general and administrative expenses (SG&A) were $484 million, representing 15.7% of net sales in Q2 2025, slightly up from 15.6% in Q1 2025 [12]. - Operating working capital days were 128 days as of June 30, 2025, compared to 129 days in the previous year [53].

Core Viewpoint - Baker Hughes (BKR) is expected to report second-quarter 2025 results on July 22, with indications of a decline in both earnings and revenues compared to the previous year [1][7]. Group 1: Earnings Performance - In the last reported quarter, BKR's adjusted earnings were 51 cents per share, exceeding the Zacks Consensus Estimate of 47 cents, driven by higher demand for natural gas technology and improved EBITDA margins [2]. - The Zacks Consensus Estimate for second-quarter earnings per share is 55 cents, reflecting a 3.5% decline from the prior year's reported figure [2]. - The estimated revenue for the second quarter is $6.6 billion, indicating a 7.1% decline from the year-ago figure [2]. Group 2: Market Conditions - The average WTI spot prices for April, May, and June were $63.54, $62.17, and $68.17 per barrel, respectively, suggesting a favorable pricing environment for exploration and production companies [3]. - The advantageous crude pricing is expected to boost demand for oilfield services, aiding exploration and production players in efficiently managing oil and gas wells [3]. Group 3: Order and Revenue Estimates - The Zacks Consensus Estimate for BKR's total orders is $6.8 billion, down from $7.5 billion reported in the same quarter last year [4]. - Orders from the Oilfield Services & Equipment business are estimated at $3.5 billion, lower than the $4.1 billion reported in the previous year [4]. - Revenue from the Oilfield Services & Equipment segment is projected to decline by 10% year-over-year, which may negatively impact overall results for the upcoming quarter [5][7]. Group 4: Earnings Expectations - The current Earnings ESP for BKR is +3.03%, but the model does not indicate a definitive earnings beat this time [6][8]. - BKR holds a Zacks Rank of 4 (Sell), which suggests a less favorable outlook compared to other stocks in the sector [8].

Core Viewpoint - Wall Street anticipates a year-over-year decline in earnings for Schlumberger due to lower revenues, with the actual results being crucial for near-term stock price movements [1][2]. Earnings Expectations - Schlumberger is expected to report quarterly earnings of $0.74 per share, reflecting a year-over-year decrease of 12.9% [3]. - Revenues are projected to be $8.48 billion, down 7.2% from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has been revised 2.86% lower in the last 30 days, indicating a bearish sentiment among analysts [4]. - The Most Accurate Estimate for Schlumberger is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -2.26% [12]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive or negative reading indicates the likely deviation from the consensus estimate, with positive readings being more predictive of earnings beats [9][10]. - Schlumberger currently holds a Zacks Rank of 5, complicating predictions of an earnings beat [12]. Historical Performance - In the last reported quarter, Schlumberger was expected to earn $0.74 per share but delivered $0.72, resulting in a surprise of -2.70% [13]. - Over the past four quarters, Schlumberger has beaten consensus EPS estimates three times [14]. Conclusion - Schlumberger does not appear to be a strong candidate for an earnings beat, and investors should consider other factors when making decisions regarding the stock ahead of the earnings release [17].

Core Insights - ConocoPhillips (COP) has confirmed the Slagugle oil discovery in the Norwegian Sea with the successful drilling of the second appraisal well, 6507/5-12 S, in production license (PL) 891 [1][9] - The discovery is estimated to contain approximately 30.8-61.6 million barrels of oil equivalent (Mboe) and is located 270 kilometers north of Kristiansund [2][9] - The second appraisal well encountered multiple columns of oil in high-quality sandstone reservoirs, with a maximum production rate of 650 standard cubic meters of oil per day [4][5] Exploration and Development - PL 891 was awarded in 2016, and the Slagugle discovery was first reported in 2020 [2] - The well 6507/5-12 S is the third exploration well drilled in this license, following previous attempts that did not yield commercially viable quantities of oil [3] - The data collected from the exploration campaign will be analyzed to determine the potential for developing the Slagugle discovery [5] Technical Details - The formation test conducted during the drilling aimed to evaluate reservoir quality and connectivity between geological layers [4] - The well struck oil in a 188-meter interval between the Are Formation and the Grey Beds, indicating promising results for future development [4][5]