SLB - What's Going On With Oilfield Services Giant Schlumberger Stock Today? | Benzinga
Schlumberger Ltd (NYSE:SLB) shares are trading higher today after reiterating the FY24 guidance despite Saudi Aramco’s decision on oil capacity. The company’s stock fell over 7% yesterday.
During its fourth-quarter earnings call, the company disclosed FY24 guidance of strong Y/Y revenue growth and continued margin expansion, leading to mid-teens growth in adjusted EBITDA.
The outlook includes the expectation of margin expansion in core business aided by favorable geographic mix and pricing in FY24.
Moreover, the company projected capital investment of ~$2.6 billion in FY24, ...