Schlumberger Ltd. (SLB) Q3 Sales Plunge 33%, EPS 48% YoY; CEO Warns of 'Delayed' Recovery
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Go back to Schlumberger Ltd. (SLB) Q3 Sales Plunge 33%, EPS 48% YoY; CEO Warns of 'Delayed' Recovery
October 19, 2015 9:27 AM EDT
UBS reiterated a Buy rating and $90.00 price target on Schlumberger (NYSE: SLB) following the company's 3Q15 earnings results. EPS of $0.78 beats consensus of $0.77.
Analyst Angie Sedita commented, "The company had another quarter with solid execution on the margin front as well as FCF. Their ability to... More
October 15, 2015 4:11 PM EDT
Schlumberger Ltd. (NYSE: SLB) reported Q3 EPS of $0.78, $0.01 better than the analyst estimate of $0.77. Revenue for the quarter came in at $8.47 billion versus the consensus estimate of $8.55 billion.
Schlumberger Chairman and CEO Paal Kibsgaard commented, Schlumberger third-quarter revenue decreased 6% sequentially driven by a continuing decline in rig activity and persistent pricing pressure throughout our global operations. North America revenue fell 4% sequentially as we focused on balancing margins and market share, while International revenue dropped 7% due to customer budget cuts, activity disruptions, and service pricing erosion.
The business environment deteriorated further in the third... More
