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Schlumberger (SLB) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

For the quarter ended March 2023, Schlumberger (SLB) reported revenue of $7.74 billion, up 29.8% over the same period last year. EPS came in at $0.63, compared to $0.34 in the year-ago quarter.

The reported revenue represents a surprise of +3.18% over the Zacks Consensus Estimate of $7.5 billion. With the consensus EPS estimate being $0.61, the EPS surprise was +3.28%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how Schlumberger performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenue- Digital & Integration: $894 million compared to the $948.33 million average estimate based on four analysts. The reported number represents a change of +4.3% year over year.

  • Revenue- Reservoir Performance: $1.50 billion versus the four-analyst average estimate of $1.48 billion. The reported number represents a year-over-year change of +24.2%.

  • Revenue- Eliminations & other: -$129 million versus -$127.48 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +20.6% change.

  • Revenue- Production Systems: $2.21 billion versus the four-analyst average estimate of $2.11 billion. The reported number represents a year-over-year change of +37.6%.

  • Revenue- Well Construction: $3.26 billion compared to the $3.09 billion average estimate based on four analysts. The reported number represents a change of +36% year over year.

  • Income Before Taxes- Digital & Integration: $265 million versus $331.44 million estimated by four analysts on average.

  • Income Before Taxes- Reservoir Performance: $242 million versus the four-analyst average estimate of $237.02 million.

  • Income Before Taxes- Eliminations & other: $7 million versus -$26.80 million estimated by four analysts on average.

  • Income Before Taxes- Production Systems: $205 million versus the four-analyst average estimate of $215.49 million.

  • Income Before Taxes- Well Construction: $672 million versus $633.88 million estimated by four analysts on average.

View all Key Company Metrics for Schlumberger here>>>

Shares of Schlumberger have returned +14.3% over the past month versus the Zacks S&P 500 composite's +4.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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