Oilfield Services Giant SLB Beats First-Quarter Profit Estimates

Reuters2023-04-21

April 21 (Reuters) - SLB beat Wall Street estimates for first-quarter profit on Friday, as elevated crude prices and tight supplies fueled demand for its oilfield services.

Global crude prices averaged $81.24 a barrel in the January-March quarter, down nearly 20% from a year earlier but still well above a level where oil and gas producers can drill profitably.

Crude prices surged to multi-year highs last year after Russia's invasion on Ukraine tightened supplies.

"The international and offshore markets continue to experience a strong resurgence of activity driven by resilient long-cycle development and capacity expansion projects," SLB CEO Olivier Le Peuch said in a statement.

However, he expects the North American land market could potentially result in an activity plateau in 2023 due to lower gas prices and capital restraint by private E&P operators.

The company, formerly called Schlumberger, reported net income, excluding items, of 63 cents per share, for the three months ended March 31, compared with 60 cents expected by analysts, according to Refinitiv data.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

2

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1132606159?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-04-21 18:53","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1132606159","market":"us","top_or_hot":-1,"title":"Oilfield Services Giant SLB Beats First-Quarter Profit Estimates","media":"Reuters","content":"<html><head></head><body><p style=\"text-align: start;\">April 21 (Reuters) - SLB beat Wall Street estimates for first-quarter profit on Friday, as elevated crude prices and tight supplies fueled demand for its oilfield services.</p><p style=\"text-align: start;\">Global crude prices averaged $81.24 a barrel in the January-March quarter, down nearly 20% from a year earlier but still well above a level where oil and gas producers can drill profitably.</p><p style=\"text-align: start;\">Crude prices surged to multi-year highs last year after Russia&#39;s invasion on Ukraine tightened supplies.</p><p>&#34;The international and offshore markets continue to experience a strong resurgence of activity driven by resilient long-cycle development and capacity expansion projects,&#34; SLB CEO Olivier Le Peuch said in a statement.</p><p style=\"text-align: start;\">However, he expects the North American land market could potentially result in an activity plateau in 2023 due to lower gas prices and capital restraint by private E&amp;P operators.</p><p style=\"text-align: start;\">The company, formerly called Schlumberger, reported net income, excluding items, of 63 cents per share, for the three months ended March 31, compared with 60 cents expected by analysts, according to Refinitiv data.</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Oilfield Services Giant SLB Beats First-Quarter Profit Estimates</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOilfield Services Giant SLB Beats First-Quarter Profit Estimates\n</h2>\n\n<h4 class=\"meta\">\n\n2023-04-21 18:53 北京时间&nbsp;&nbsp;&nbsp;<strong>Reuters</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>April 21 (Reuters) - SLB beat Wall Street estimates for first-quarter profit on Friday, as elevated crude prices and tight supplies fueled demand for its oilfield services.Global crude prices averaged...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SLB","symbol_name":"斯伦贝谢","start_time":0,"source_url":"","article_id":"1132606159","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1132606159","pubTimestamp":1682074403,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"April 21 (Reuters) - SLB beat Wall Street estimates for first-quarter profit on Friday, as elevated ","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"SLB":"斯伦贝谢"},"translate_title":"油田服务巨头SLB超过第一季度利润预期","themeId":"ec9f6f0df2b6498587e7f5318b2eff2b","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SLB":0.9},"content_text":"April 21 (Reuters) - SLB beat Wall Street estimates for first-quarter profit on Friday, as elevated crude prices and tight supplies fueled demand for its oilfield services.Global crude prices averaged $81.24 a barrel in the January-March quarter, down nearly 20% from a year earlier but still well above a level where oil and gas producers can drill profitably.Crude prices surged to multi-year highs last year after Russia's invasion on Ukraine tightened supplies.\"The international and offshore markets continue to experience a strong resurgence of activity driven by resilient long-cycle development and capacity expansion projects,\" SLB CEO Olivier Le Peuch said in a statement.However, he expects the North American land market could potentially result in an activity plateau in 2023 due to lower gas prices and capital restraint by private E&P operators.The company, formerly called Schlumberger, reported net income, excluding items, of 63 cents per share, for the three months ended March 31, compared with 60 cents expected by analysts, according to Refinitiv data.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":2,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1132606159"}