- Adjusted EPS: 85 cents, higher than the estimates of 83 cents and last year’s figure of 72 cents.
- Revenue: $9.14 billion, an increase of 13% year-over-year, surpassing the estimate of $9.07 billion.
- Digital & Integration Revenue: $1.05 billion, up 11% year-over-year, beating the estimate of $1.03 billion.
- Reservoir Performance Revenue: $1.82 billion, up 11% year-over-year, slightly above the estimate of $1.81 billion.
- Production Systems Revenue: $3.03 billion, a notable increase of 31% year-over-year, exceeding the estimate of $2.96 billion.
- Well Construction Revenue: $3.41 billion, up 1.5% year-over-year but below the estimate of $3.48 billion.
- Adjusted EBITDA: $2.29 billion, a 17% year-over-year increase, surpassing the estimate of $2.22 billion.
- Cash Flow from Operations: $1.44 billion, a decrease of 11% year-over-year, but above the estimate of $1.19 billion.
- Capital Expenditure: $463 million, down 1.7% year-over-year, below the estimate of $501 million.
- Free Cash Flow: $776 million, a decrease of 21% year-over-year, yet much higher than the estimate of $465.5 million.
- Net Debt: $9.19 billion, a quarterly increase of 5.8%, higher than the estimate of $8.76 billion.
- Comments: Positive momentum in core business and acceleration of digital business leading to highest quarterly international revenue since 2014.
- Sequential Growth: Production Systems up 7% and Reservoir Performance up 5%, strongest in subsea production systems and artificial lift.
- Regional Activity: Significant activity in Europe & Africa, Latin America, and Middle East & Asia; land activity and offshore developments driving growth despite lower US land drilling.
- Analyst Ratings: 30 buys, 1 hold, and 0 sells.
Schlumberger Ltd on Smartkarma
Analyst coverage of Schlumberger Ltd on Smartkarma highlights positive sentiment and growth prospects for the company. Suhas Reddy‘s report, “Schlumberger’s International Strength to Propel Q2 Growth,” emphasizes the company’s expectations of revenue and net profit growth in Q2 2024, driven by international and subsea operations. The report also mentions the ChampionX acquisition’s potential to boost free cash flow from 2025 onwards, with plans to increase shareholder returns in the coming years.
Baptista Research‘s insights, including “Schlumberger Limited: The ChampionX Acquisition,” highlight Schlumberger’s strong performance in Q1 2024, driven by international activities despite a decline in North American revenue. The report underscores Schlumberger’s resilience and adaptability in the face of challenges in the energy market, positioning the company for growth in new energy markets and beyond, as outlined in their financial results and future outlook presented during the quarterly conference call.
A look at Schlumberger Ltd Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 3 | |
| Growth | 5 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, Schlumberger Ltd shows a promising long-term outlook. With a high score in Growth, the company is positioned for significant expansion and development in the future. This indicates potential for increased profitability and market presence over time.
Additionally, Schlumberger Ltd demonstrates solid scores across Value, Dividend, Resilience, and Momentum factors. This suggests a well-rounded performance in terms of financial stability, shareholder returns, ability to withstand challenges, and positive market trends. Overall, Schlumberger Ltd appears to be a strong player in the oil services industry with a favorable outlook for the years ahead.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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