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SLB Gears Up for Q4 Earnings: Is a Beat in the Offing?
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SLB (SLB - Free Report) is set to report fourth-quarter 2022 results on Jan 20, before the opening bell.
In the last reported quarter, SLB’s earnings of 63 cents per share (excluding charges and credits) beat the Zacks Consensus Estimate of 55 cents. The quarterly results were primarily driven by strong activities in land and offshore resources in North America and Latin America.
In all the trailing four quarters, SLB beat the Zacks Consensus Estimate for earnings, delivering an earnings surprise of 12.7%, on average. This is depicted in the graph below:
Let’s see how things have shaped up prior to the announcement.
The Zacks Consensus Estimate for fourth-quarter earnings per share of 69 cents has witnessed one upward revision and one downward movement in the past 30 days. The consensus estimate suggests an increase of 68.3% from the year-ago reported figure.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $7.8 billion indicates a 25.8% year-over-year improvement.
Earnings Whispers
Our proven model predicts an earnings beat for SLB 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. This is just the case here.
Earnings ESP: SLB has an Earnings ESP of +1.46%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: SLB currently carries a Zacks Rank #3.
Factors to Consider
Oil prices were significantly higher in the December quarter of last year. Higher commodity prices are likely to have aided exploration and production activities since a higher number of drilling rigs have gathered in prolific shale plays. This is likely to have benefited SLB, as the energy major is involved in providing key technologies and services that are expected to have made its clients’ upstream activities more efficient and cleaner.
Other Stocks to Consider
Here are some other firms that you may want to consider, as these too have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Enterprise is scheduled to release fourth-quarter results on Feb 1. The Zacks Consensus Estimate for EPD’s earnings is pegged at 61 cents per share, suggesting an increase of 17.3% from the prior-year reported figure.
BP plc (BP - Free Report) has an Earnings ESP of +1.38% and a Zacks Rank of 3.
BP is scheduled to report fourth-quarter results on Feb 7. The Zacks Consensus Estimate for BP’s earnings is pegged at $1.75 per share, suggesting a significant increase from the prior-year reported figure.
Halliburton Company (HAL - Free Report) has an Earnings ESP of +0.30% and a Zacks Rank #2.
Halliburton is scheduled to release fourth-quarter earnings on Jan 24. The Zacks Consensus Estimate for HAL’s earnings is pegged at 67 cents per share, suggesting a massive increase from the prior-year reported figure.
Image: Bigstock
SLB Gears Up for Q4 Earnings: Is a Beat in the Offing?
SLB (SLB - Free Report) is set to report fourth-quarter 2022 results on Jan 20, before the opening bell.
In the last reported quarter, SLB’s earnings of 63 cents per share (excluding charges and credits) beat the Zacks Consensus Estimate of 55 cents. The quarterly results were primarily driven by strong activities in land and offshore resources in North America and Latin America.
In all the trailing four quarters, SLB beat the Zacks Consensus Estimate for earnings, delivering an earnings surprise of 12.7%, on average. This is depicted in the graph below:
Let’s see how things have shaped up prior to the announcement.
SLB Price and EPS Surprise
SLB price-eps-surprise | SLB Quote
Estimate Trend
The Zacks Consensus Estimate for fourth-quarter earnings per share of 69 cents has witnessed one upward revision and one downward movement in the past 30 days. The consensus estimate suggests an increase of 68.3% from the year-ago reported figure.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $7.8 billion indicates a 25.8% year-over-year improvement.
Earnings Whispers
Our proven model predicts an earnings beat for SLB 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. This is just the case here.
Earnings ESP: SLB has an Earnings ESP of +1.46%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: SLB currently carries a Zacks Rank #3.
Factors to Consider
Oil prices were significantly higher in the December quarter of last year. Higher commodity prices are likely to have aided exploration and production activities since a higher number of drilling rigs have gathered in prolific shale plays. This is likely to have benefited SLB, as the energy major is involved in providing key technologies and services that are expected to have made its clients’ upstream activities more efficient and cleaner.
Other Stocks to Consider
Here are some other firms that you may want to consider, as these too have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Enterprise Products Partners (EPD - Free Report) has an Earnings ESP of +4.13% and is a Zacks #3 Ranked player. You can see the complete list of today’s Zacks #1 Rank stocks here.
Enterprise is scheduled to release fourth-quarter results on Feb 1. The Zacks Consensus Estimate for EPD’s earnings is pegged at 61 cents per share, suggesting an increase of 17.3% from the prior-year reported figure.
BP plc (BP - Free Report) has an Earnings ESP of +1.38% and a Zacks Rank of 3.
BP is scheduled to report fourth-quarter results on Feb 7. The Zacks Consensus Estimate for BP’s earnings is pegged at $1.75 per share, suggesting a significant increase from the prior-year reported figure.
Halliburton Company (HAL - Free Report) has an Earnings ESP of +0.30% and a Zacks Rank #2.
Halliburton is scheduled to release fourth-quarter earnings on Jan 24. The Zacks Consensus Estimate for HAL’s earnings is pegged at 67 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.