We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Is a Beat in Store for Schlumberger (SLB) in Q1 Earnings?
Read MoreHide Full Article
Schlumberger Limited (SLB - Free Report) is set to report first-quarter 2022 results on Apr 22, before the opening bell.
In the last reported quarter, the oilfield service player reported earnings of 41 cents per share, beating the Zacks Consensus Estimate of 39 cents, backed by higher contributions from Europe/CIS/Africa, strong North America rig activity and increased well construction activities in the U.S. Gulf of Mexico.
In the trailing four quarters, Schlumberger beat the Zacks Consensus Estimate for earnings, delivering an earnings surprise of 7.8%, on average. This is depicted in the graph below:
Let’s see how things have shaped up prior to the announcement.
Estimate Trend
The Zacks Consensus Estimate for first-quarter earnings per share of 32 cents has witnessed one upward and six downward movements in the past 30 days. The consensus estimate suggests a year-over-year increase of 52.4%.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $5.9 billion indicates a 13.1% improvement from the year-ago reported figure.
Earnings Whispers
Our proven model predicts an earnings beat for Schlumberger this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat.
Earnings ESP: Schlumberger has an Earnings ESP of +0.17%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Schlumberger currently carries a Zacks Rank #3.
Factors Driving the Better-Than-Expected Earnings
In the March quarter of this year, the pricing scenario of oil was much higher than the year-ago comparable quarter. The significant improvement was owing to Russia’s violent and unprovoked invasion of Ukraine. Higher oil price was favorable for exploration and production activities, which have likely driven demand for Schlumberger’s oilfield services.
The Zacks Consensus Estimate for income before taxes for Schlumberger’s Well Construction division is pegged at $350 million, suggesting an improvement from $209 million in the year-ago quarter.
Other Stocks That Warrant a Look
Here are some other companies from the Energy space that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Matador is scheduled to release first-quarter results on Apr 26. The Zacks Consensus Estimate for Matador’s quarterly earnings is pegged at $1.97 per share, suggesting an increase of 177.5% from the prior-year reported figure.
Range Resources Corporation (RRC - Free Report) has an Earnings ESP of +1.82% and is a Zacks #2 Ranked player at present.
Range Resources is scheduled to release first-quarter results on Apr 26. The Zacks Consensus Estimate for RRC’s quarterly earnings is pegged at $1.11 per share, suggesting an increase of 270% from the prior-year figure.
PBF Energy (PBF - Free Report) has an Earnings ESP of +95.35% and flaunts a Zacks Rank #1.
PBF Energy is scheduled to release first-quarter earnings on Apr 28. The Zacks Consensus Estimate for PBF’s earnings is pegged at 14 cents per share, suggesting a massive increase from the prior-year reported figure.
Image: Bigstock
Is a Beat in Store for Schlumberger (SLB) in Q1 Earnings?
Schlumberger Limited (SLB - Free Report) is set to report first-quarter 2022 results on Apr 22, before the opening bell.
In the last reported quarter, the oilfield service player reported earnings of 41 cents per share, beating the Zacks Consensus Estimate of 39 cents, backed by higher contributions from Europe/CIS/Africa, strong North America rig activity and increased well construction activities in the U.S. Gulf of Mexico.
In the trailing four quarters, Schlumberger beat the Zacks Consensus Estimate for earnings, delivering an earnings surprise of 7.8%, on average. This is depicted in the graph below:
Schlumberger Limited Price and EPS Surprise
Schlumberger Limited price-eps-surprise | Schlumberger Limited Quote
Let’s see how things have shaped up prior to the announcement.
Estimate Trend
The Zacks Consensus Estimate for first-quarter earnings per share of 32 cents has witnessed one upward and six downward movements in the past 30 days. The consensus estimate suggests a year-over-year increase of 52.4%.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $5.9 billion indicates a 13.1% improvement from the year-ago reported figure.
Earnings Whispers
Our proven model predicts an earnings beat for Schlumberger this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat.
Earnings ESP: Schlumberger has an Earnings ESP of +0.17%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Schlumberger currently carries a Zacks Rank #3.
Factors Driving the Better-Than-Expected Earnings
In the March quarter of this year, the pricing scenario of oil was much higher than the year-ago comparable quarter. The significant improvement was owing to Russia’s violent and unprovoked invasion of Ukraine. Higher oil price was favorable for exploration and production activities, which have likely driven demand for Schlumberger’s oilfield services.
The Zacks Consensus Estimate for income before taxes for Schlumberger’s Well Construction division is pegged at $350 million, suggesting an improvement from $209 million in the year-ago quarter.
Other Stocks That Warrant a Look
Here are some other companies from the Energy space that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Matador Resources Company (MTDR - Free Report) has an Earnings ESP of +2.75% and is a Zacks #1 Ranked player at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Matador is scheduled to release first-quarter results on Apr 26. The Zacks Consensus Estimate for Matador’s quarterly earnings is pegged at $1.97 per share, suggesting an increase of 177.5% from the prior-year reported figure.
Range Resources Corporation (RRC - Free Report) has an Earnings ESP of +1.82% and is a Zacks #2 Ranked player at present.
Range Resources is scheduled to release first-quarter results on Apr 26. The Zacks Consensus Estimate for RRC’s quarterly earnings is pegged at $1.11 per share, suggesting an increase of 270% from the prior-year figure.
PBF Energy (PBF - Free Report) has an Earnings ESP of +95.35% and flaunts a Zacks Rank #1.
PBF Energy is scheduled to release first-quarter earnings on Apr 28. The Zacks Consensus Estimate for PBF’s earnings is pegged at 14 cents per share, suggesting a massive increase from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.