Schlumberger (SLB) Q4 Earnings & Revenues Beat Estimates Zacks.com 1/22/2021
Schlumberger Limited SLB announced fourth-quarter 2020 earnings of 22 cents per share (excluding charges and credits), surpassing the Zacks Consensus Estimate of 18 cents. However, the bottom line declined from 39 cents a year ago.
The oilfield service giant recorded total revenues of $5,532 million, which beat the Zacks Consensus Estimate of $5,231 million but declined 33% from the year-ago quarter’s $8,228 million.
The better-than-expected results can be attributed to contributions from digital solutions and multiclient seismic license sales. This was offset partially by lower evaluation work and stimulation in Qatar and Saudi Arabia.
Among the major oilfield service players, Schlumberger is the second company to beat fourth-quarter earnings, following Halliburton Company HAL. Baker Hughes Company BKR, however, recently missed the Zacks Consensus Estimate for the bottom line.