Schlumberger: Q3 beats consensus
(CercleFinance.com) - The world's largest oilfield services company Schlumberger has reported Q3 adjusted net income that is down 7% y-o-y at 596 million dollars, representing EPS of 43 cents, three cents above the consensus.
The group's pre-tax operating margin decreased by 0.7 point to 12.8% for revenues that are flat at just over 8.5 billion dollars, with the 11% drop in North America offset by an 8% increase internationally.
"Underpinned by the elements of our strategy, Schlumberger is favorably positioned to achieve superior margin expansion, increased return on capital, and growth in free cash flow," said CEO Olivier Le Peuch.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The group's pre-tax operating margin decreased by 0.7 point to 12.8% for revenues that are flat at just over 8.5 billion dollars, with the 11% drop in North America offset by an 8% increase internationally.
"Underpinned by the elements of our strategy, Schlumberger is favorably positioned to achieve superior margin expansion, increased return on capital, and growth in free cash flow," said CEO Olivier Le Peuch.
Copyright (c) 2019 CercleFinance.com. All rights reserved.