Schlumberger Ltd. (NYSE: SLB) reported its most recent quarterly results on Friday morning. The oilfield services firm said that it had $0.36 in earnings per share (EPS) and $8.18 billion in revenue, which compares with consensus estimates calling for $0.36 in EPS on revenue of $8.03 billion. The same period of last year reportedly EPS of had $0.48and $8.18 billion in revenue.
Overall, fourth-quarter revenue declined 4% sequentially driven by lower activity and pricing for most production- and Cameron-related businesses in North America. Lower revenue from OneSubsea also drove the decline, but management has booked more than $600 million in new project orders during the quarter.
During this quarter, Shearwater GeoServices completed the purchase of the WesternGeco marine seismic acquisition assets and operations. Schlumberger received a cash consideration of $600 million plus a 15% post-closing equity interest in Shearwater GeoServices.
The board of directors approved a quarterly cash dividend of $0.50 per share of outstanding common stock, payable on April 12, 2019, to stockholders of record on February 13, 2019.
Paal Kibsgaard, board chair and chief executive, commented:
Full-year 2018 revenue of $32.8 billion increased 8% year-on-year and grew for the second successive year. Performance was driven by North America where revenue of $12.0 billion increased 26% due to the results of our OneStim business, which grew by 41%. Full-year international revenue of $20.4 billion was essentially flat compared with 2017. However, excluding Cameron, international revenue for the second half of 2018 showed year-over-year growth of 3%, marking the beginning of a positive activity trend after three consecutive years of declining revenues.
Shares of Schlumberger closed Thursday at $41.37, in a 52-week range of $34.99 to $80.35. The stock has a consensus analyst price target of $56.68. Following the announcement, the stock was up about 3% at $42.60 in early trading indications Friday.
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
