For the full year, Schlumberger reported EPS of $4.17 on revenues of $42.15 billion. A year ago the company reported EPS of $3.61 and $36.96 billion in revenues. The consensus estimate called for $4.19 per share on revenues of $42.35 billion.
The company’s CEO said:
International grew from robust exploration and development activity, both offshore and in key land markets. In North America, we demonstrated our resiliency from the challenges of the land markets by growing the business by more than $1 billion, or 9%, aided by our strong position in the offshore market, particularly in the US Gulf of Mexico.
The company did not offer any guidance in its announcement, but the consensus forecast for the first quarter calls for EPS of $1.02 on revenues of $10.62 billion. For the full year, EPS is estimated at $4.82 on revenues of $45.59 billion.
Schlumberger did say that it expects global demand for oil to grow at “similar levels to 2012” with North American growth continuing while other non-OPEC producers “will likely continue to face delay and decline challenges.” Read “Africa and Russia.” The firm expects international exploration and production spending to rise by 10% in 2013, along with a “strong activity outlook” for the Gulf of Mexico.
Revenue fell by a modest 1% in the company’s Europe/CIS/Africa region, and the region also experienced margin pressure due to contract delays in Africa and seasonal slowdowns in the North Sea and in Russia.
Shares are up fractionally in premarket trading this morning, at $73.40 in a 52-week range of $59.12 to $80.78. Thomson Reuters had a consensus analyst price target of around $88.75 before today’s results were announced.
For a look at what one analyst thinks of the oil field sector stocks, see our story on price targets in the oil field services sector.
The Average American Has No Idea How Much Money You Can Make Today (Sponsor)
The last few years made people forget how much banks and CD’s can pay. Meanwhile, interest rates have spiked and many can afford to pay you much more, but most are keeping yields low and hoping you won’t notice.
But there is good news. To win qualified customers, some accounts are paying almost 10x the national average! That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 3.80% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.
Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account from Sofi. Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.