Schlumberger (SLB): Q4 Non-GAAP Earnings per Share Outperformed Expectations by USD 0.03 to USD 0.86

Schlumberger's non-GAAP earnings per share were just reported at $0.86, beating $0.03, on revenue of $8.99 billion, beating $50 million. The company's revenue and earnings per share (EPS) also beat expectations, reflecting a solid operating strategy and ability to manage complex market dynamics

During the quarter, operating efficiency was significantly improved, while the majority of costs were significantly reduced, and process optimization contributed to the company's profitability. Revenues of $8.99 billion (up 13.8% YoY) topped consensus by $50 million. The company's full-year profit was $4.2 billion, or $2.91 per share. FY sales were reported at $33.14 billion. In particular, the company expects record investment in the Middle East beyond 2025, with significant expansion in Saudi Arabia, the United Arab Emirates, Iraq and Kuwait.

Schlumberger provides the petroleum industry with services such as seismic data processing, formation evaluation, well testing and directional drilling, cementing and stimulation, artificial production, completions, flow assurance and consulting, and software and information management. Schlumberger's competitors include Halliburton (HAL), Baker Hughes, National Oilwell Varco, Dynamic Materials Corporation and Carbo Ceramics.