Source: Forbes
Schlumberger (SLB) reports quarterly earnings July 24th. Analysts expect revenue of $5.36 billion and EPS of -$0.01. The revenue estimate implies a double digit decline sequentially. Investors should focus on the following key items.
North America Could Free Fall
The North American land drilling market was previously the hottest sector of the oil services industry. Schlumberger stepped up its investment in the region in order to better compete with Baker Hughes (BKR) and Halliburton (HAL). The outlook for the sector may not be as dismal as subsea,