SLB - SLB Q2 earnings on deck what to expect

2023-07-20 15:52:07 ET

• Oilfield services provider SLB ( NYSE: SLB ) is scheduled to announce Q2 earnings results on Friday, July 21st, before market open.
• The consensus EPS estimate is $0.71 and the consensus revenue estimate is $8.21 billion.
• Over the last 2 years, SLB has beaten EPS estimates 100% of the time and has beaten revenue estimates 88% of the time.
• Over the last 3 months, EPS estimates have seen 6 upward revisions and 10 downward. Revenue estimates have seen 12 upward revisions and 0 downward.
• The company on April 21 reported Q1 non-GAAP EPS of $0.63, beating estimates by 2 cents. Revenue of $7.7 billion was up 30% from last year and ahead of consensus by $240 million.
• SLB has a Quant rating of " HOLD ", with a 3.30 rating score.
• SLB has an industry ranking of 18 out of 46 among oil and gas equipment and services stocks, as per SA's Quant ranking.
• Wall Street analysts rate the SLB stock " STRONG BUY " and Seeking Alpha authors it " BUY ".
• SLB stock rose 71% in 2022, while the benchmark S&P 500 index slipped nearly 20% for the year.
• Stock is up 12.5% so far this year as of Tuesday's close. The S&P 500 Energy Index is down 6.1% YTD.

Recent analysis on SLB:

" I have identified Schlumberger Limited as a technically attractive stock that might be on the cusp of the mid-term and long-term uptrend if an investor is willing to wait out possible indecision of the next weeks or months. Based on multiples resulting from a regression model, the stock seems to be undervalued as well, presenting an upside. The result recommendation is a Buy based on a high potential of both upsides aligning in the coming months ," writes SA contributor Magdalena Pacholska in a July 10 report .

" With production growth in major basins reaching a plateau, the global oil market may enter a new era with potentially higher oil prices. The positioning of money managers also indicates that the value/commodity trade is currently less crowded. SLB, being the largest provider of oil and gas exploration and production services, stands to benefit from the anticipated rebound in drilling activity ," writes Leo Nelissen in a July 17 report .

Other analysis : Schlumberger: Energy Services To Become A Trillion Dollar Industry This Year by SA contributor The Energy Realist.

Recent news : Oilfield services provider SLB stops all shipments to Russia .

More on the energy sector:

• Oil Can Still Hit $100 Per Barrel And XLE Investors Can Benefit .
• Top 3 Seeking Alpha Quant picks in Energy sector this earnings season .
• Crude oil extends gains as global demand seen rising to record highs this year .

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