Schlumberger NV


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SKU: SLB-1 Category:


Schlumberger delivered a mixed set of results for the previous quarter, with revenues below the analyst consensus. However, it managed to surpass the earnings expectations of Wall Street. In the last quarter, they performed especially well in the international markets. The strong performance was driven by high-quality global revenue, particularly in the Middle East and Asia, with offshore activity contributing to margin expansion. The management’s ambition is to achieve mid-20s percentage growth in adjusted EBITDA for 2023, and they are on track to meet this goal. With improved working capital and strong cash flow generation, Schlumberger expects free cash flow in the year’s second half to be higher than the first half, allowing them to continue their stock buyback program and return $2 billion to shareholders this year. Furthermore, Schlumberger’s divisions, including Digital & Integration, Reservoir Performance, Well Construction, and Production Systems, contributed to the overall revenue growth and margin expansion. Schlumberger’s focus on cost management and operational efficiency has resulted in significant margin improvements year-on-year, demonstrating its commitment to sustainable growth and shareholder value creation. We give Schlumberger Limited a ‘Hold’ rating with a revised target price.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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