SLB Announces First-Quarter 2024 Results, Targeting to Return $7 Billion to Shareholders Over 2024–2025

SLB (SLB) PT Lowered to $62 at BofA Securities

BofA Securities analyst Chase Mulvehill lowered the price target on SLB (NYSE: SLB) to $62.00 (from $63.00) while maintaining a Buy rating.

The analyst comments "Were tweaking our 2024E / 25E Adj. EBITDA by -1% to $9.25 / $10.33bn to allow for 1) modestly weaker NAM in 2024E, and 2)... More

SLB (SLB) PT Lowered to $64 at BMO Capital

BMO Capital analyst Philip Jungwirth lowered the price target on SLB (NYSE: SLB) to $64.00 (from $66.00) while maintaining a Outperform rating.

The analyst comments "We viewed SLB's 1Q24 results as in line, while 2Q24 guidance implies ~$0.82-0.84 EPS, near consensus. While a quarterly... More

SLB (SLB) PT Lowered to $64 at JPMorgan

JPMorgan analyst Arun Jayaram lowered the price target on SLB (NYSE: SLB) to $64.00 (from $65.00) while maintaining a Overweight rating.

The analyst comments "SLBs 1Q24 results and 2Q24 guide generally matched consensus expectations yet the shares slid 2.1%, lagging its OSX and Large Cap OFS peers by 287bps and 332bps, respectively. We think the culprit was the slight EBITDA margin miss (23.6% vs. JPMe of 23.7%) as D&I and Well Construction margins were light. In particular, we sensed buyside disappointment on D&I... More

SLB (SLB) PT Lowered to $65 at Citi

Citi analyst Scott Gruber lowered the price target on SLB (NYSE: SLB) to $65.00 (from $70.00) while maintaining a Buy rating.

The analyst comments "SLB slumped on Friday due to a disbelief that full year guidance was still reasonable, despite management reiterating their mid-teens EBITDA... More

Schlumberger (SLB) earnings in-line, revenue beats expectations

Schlumberger (NYSE: SLB), a leading oilfield services company, reported first-quarter earnings per share (EPS) of $0.75, meeting analyst estimates, according to a recent press release. The company's revenue reached $8.71 billion, slightly above the consensus estimate of $8.7 billion, marking a 13% increase from the same quarter last year.

Despite the in-line earnings, SLB shares saw a modest decline of 1.2% following the announcement.

CEO Olivier Le Peuch highlighted the company's robust year-on-year growth, with a... More

Schlumberger Ltd. (SLB) Reports In-Line Q1 EPS

Schlumberger Ltd. (NYSE: SLB) reported Q1 EPS of $0.75, in-line with the analyst estimate of $0.75. Revenue for the quarter came in at $8.71 billion versus the consensus estimate of $8.7 billion.

Targeting to Return $7 Billion to Shareholders Over 20242025

For earnings history and earnings-related data on Schlumberger Ltd. (SLB) click here.