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Schlumberger Limitednv (SLB) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Schlumberger Limitednv

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CIK: 87347 Ticker: SLB

Exhibit 99

 

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Schlumberger Announces Third-Quarter 2018 Results

 

  •  

Revenue of $8.5 billion increased 2% sequentially

 

  •  

Pretax operating income of $1.2 billion increased 5% sequentially

 

  •  

EPS was $0.46

 

  •  

Cash flow from operations was $1.8 billion

 

  •  

Free cash flow was $1.0 billion

Houston, October 19, 2018—Schlumberger Limited (NYSE: SLB) today reported results for the third quarter of 2018.

 

                

(Stated in millions, except per share amounts)

  
     Three Months Ended     Change  
     Sept. 30, 2018     Jun. 30, 2018     Sept. 30, 2017     Sequential     Year-on-year  

Revenue

    $ 8,504     $ 8,303     $ 7,905       2 %      8 % 

Pretax operating income

    $ 1,152     $ 1,094     $ 1,059       5 %      9 % 

Pretax operating margin

      13.5 %      13.2 %      13.4 %      36  bps      15  bps 

Net income—GAAP basis

    $ 644     $ 430     $ 545       50 %      18 % 

Net income, excluding charges & credits*

    $ 644     $ 594     $ 581       8 %      11 % 

Diluted EPS—GAAP basis

    $ 0.46     $ 0.31     $ 0.39       48 %      18 % 

Diluted EPS, excluding charges & credits*

    $ 0.46     $ 0.43     $ 0.42       7 %      10 % 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

North America revenue

    $ 3,189     $ 3,139     $ 2,602       2 %      23 % 

International revenue

    $ 5,215     $ 5,065     $ 5,147       3 %      1 % 

North America revenue, excluding Cameron

    $ 2,572     $ 2,546     $ 2,086       1 %      23 % 

International revenue, excluding Cameron

    $ 4,559     $ 4,387     $ 4,430       4 %      3 % 

 

*

These are non-GAAP financial measures. See section below entitled “Charges & Credits” for details.

Schlumberger Chairman and CEO Paal Kibsgaard commented, “Our third-quarter revenue of $8.5 billion grew 2% sequentially, driven by the International Areas where the broad-based activity recovery continued and where sequential revenue growth outpaced that of North America for the first time since the second quarter of 2014. In North America, sequential growth remained positive but slowed from the rates of previous quarters as takeaway constraints in the Permian impacted hydraulic fracturing activity.

“In North America, third-quarter revenue of $2.6 billion, excluding Cameron, increased 1% sequentially driven by Artificial Lift and Drilling as we continued to gain market share on the back of our leading technology portfolio. Service revenue from our OneStimSM hydraulic fracturing business was increasingly impacted by softening activity and pricing over the course of the quarter. This was offset, however, by robust performance from our vertically integrated sand business, which in addition to serving OneStim now also competes in the third-party market. Offshore North America, drilling activity was impacted by scheduled platform maintenance and planned workover operations, the combination of which led to a less favorable activity mix for Schlumberger.

 

1

The following information was filed by Schlumberger Limitednv (SLB) on Friday, October 19, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Schlumberger Limitednv's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheet
Consolidated Balance Sheet (Parenthetical)
Consolidated Statement Of Cash Flows (Unaudited)
Consolidated Statement Of Comprehensive Income (Unaudited)
Consolidated Statement Of Income (Unaudited)
Consolidated Statement Of Stockholders' Equity (Parenthetical) (Unaudited)
Consolidated Statement Of Stockholders' Equity (Unaudited)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Tables)
Accumulated Other Comprehensive Loss - Schedule Of Accumulated Other Comprehensive Loss (Detail)
Basis Of Presentation
Basis Of Presentation (Policies)
Basis Of Presentation - Additional Information (Detail)
Charges And Credits
Charges And Credits (Tables)
Charges And Credits - Additional Information (Detail)
Charges And Credits - Summary Of Charges And Credits (Detail)
Contingencies
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (Tables)
Derivative Instruments And Hedging Activities - Additional Information (Detail)
Derivative Instruments And Hedging Activities - Effect Of Derivative Instruments Designated As Fair Value And Cash Flow Hedges And Not Designated As Hedges On Consolidated Statement Of Income (Detail)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Reconciliation Of Earnings Per Share (Detail)
Earnings Per Share - Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share (Detail)
Fixed Assets
Fixed Assets (Tables)
Fixed Assets - Depreciation Expense Relating To Fixed Assets (Detail)
Fixed Assets - Summary Of Fixed Assets (Detail)
Intangible Assets
Intangible Assets (Tables)
Intangible Assets - Additional Information (Detail)
Intangible Assets - Amortization Expense Charged To Income For Intangible Assets (Detail)
Intangible Assets - Schedule Of Intangible Assets By Major Class (Detail)
Inventories
Inventories (Tables)
Inventories - Summary Of Inventory (Detail)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - Additional Information (Detail)
Long-Term Debt - Summary Of Long-Term Debt (Detail)
Long-Term Debt - Summary Of Long-Term Debt (Parenthetical) (Detail)
Multiclient Seismic Data
Multiclient Seismic Data (Tables)
Multiclient Seismic Data - Change In Carrying Amount Of Multiclient Seismic Data (Detail)
Pension And Other Postretirement Benefit Plans
Pension And Other Postretirement Benefit Plans (Tables)
Pension And Other Postretirement Benefit Plans - Net Pension Cost For Schlumberger Pension Plans And Us Postretirement Medical Plan (Detail)
Segment Information
Segment Information (Tables)
Segment Information - Revenue By Geographic Area (Detail)
Segment Information - Schedule Of Segment Reporting Information, By Segment (Detail)
Segment Information - Schedule Of Segment Reporting Information, By Segment (Parenthetical) (Detail)
Segment Information - Summary Of North America And International Revenue Disaggregated By Segment (Detail)
Ticker: SLB
CIK: 87347
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-18-024846
Submitted to the SEC: Wed Oct 24 2018 11:22:57 AM EST
Accepted by the SEC: Wed Oct 24 2018
Period: Sunday, September 30, 2018
Industry: Oil And Gas Field Services

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