Schlumberger (SLB) Q4 Earnings & Revenues Beat Estimates Zacks.com 1/22/2021
Schlumberger Limited SLB announced fourth-quarter 2020 earnings of 22 cents per share (excluding charges and credits), surpassing the Zacks Consensus Estimate of 18 cents. However, the bottom line declined from 39 cents a year ago.
The oilfield service giant recorded total revenues of $5,532 million, which beat the Zacks Consensus Estimate of $5,231 million but declined 33% from the year-ago quarter’s $8,228 million.
The better-than-expected results can be attributed to contributions from digital solutions and multiclient seismic license sales. This was offset partially by lower evaluation work and stimulation in Qatar and Saudi Arabia.
Among the major oilfield service players, Schlumberger is the second company to beat fourth-quarter earnings, following Halliburton Company HAL. Baker Hughes Company BKR, however, recently missed the Zacks Consensus Estimate for the bottom line.
Schlumberger Limited: Schlumberger Announces Fourth-Quarter and Full-Year 2020 Results
Fourth-quarter GAAP EPS, including charges and credits, was $0.27
Fourth-quarter EPS, excluding charges and credits, of $0.22 increased 37% sequentially
Fourth-quarter cash flow from operations was $878 million and free cash flow was $554 million
Quarterly cash dividend of $0.125 per share approved
Schlumberger Limited (NYSE: SLB) today reported results for the fourth-quarter and full-year 2020.
Fourth-Quarter Results
Three Months Ended
$471
$374
$0.27
$309
$0.22
-33% These are non-GAAP financial measures. See sections titled Charges Credits , Divisions , Geographical , and Supplemental Information for details.
n/m not meaningful
Schlumberger CEO Olivier Le Peuch commented, We concluded the year posting very strong fourth-quarter results, as we leveraged the industry recovery, which has now commenced. Fourth-quarter revenue grew 5% sequentially, driven by strong activi
Schlumberger Announces Fourth-Quarter and Full-Year 2020 Results
Fourth-Quarter Results
Three Months Ended
$471
$374
$0.27
$309
$0.22
-33% These are non-GAAP financial measures. See sections titled Charges & Credits , Divisions , Geographical , and Supplemental Information for details.
n/m = not meaningful
Schlumberger CEO Olivier Le Peuch commented, “We concluded the year posting very strong fourth-quarter results, as we leveraged the industry recovery, which has now commenced. Fourth-quarter revenue grew 5% sequentially, driven by strong activity and solid execution both in North America and in the international markets. Despite seasonality, revenue grew sequentially in all four Divisions for the first time since the third quarter of 2019. I stand very proudly behind the performance of the entire Schlumberger team during the quarter, closing an exceptional year of operational resilience and performance for our customers.