Oilfield services provider SLB (NYSE:SLB) will be announcing earnings results tomorrow before market open. Here’s what you need to know.
SLB beat analysts’ revenue expectations last quarter, reporting revenues of $8.97 billion, down 4.5% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates.
Is SLB a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting SLB’s revenue to grow 4% year on year, a reversal from the 10.8% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. SLB has a history of exceeding Wall Street’s expectations.
Looking at SLB’s peers in the oilfield services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Halliburton delivered year-on-year revenue growth of 1.8%, beating analysts’ expectations by 2.1%, and Oceaneering reported revenues up 5.6%, topping estimates by 0.5%. Halliburton traded up 3.1% following the results.
Read our full analysis of Halliburton’s results here and Oceaneering’s results here.
Investors in the oilfield services segment have had fairly steady hands going into earnings, with share prices down 2% on average over the last month. SLB is down 5.8% during the same time and is heading into earnings with an average analyst price target of $62.28 (compared to the current share price of $48.83).
ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal. Amazon, Google, and Meta all followed the same playbook: Dominate an ignored market. Build an unbeatable moat. Scale until you’re unstoppable.
These three platforms are running that exact playbook right now. The early investors in Amazon made fortunes. The early investors in these could do the same. Get All 3 Stocks Here for FREE.