Schlumberger Announces Second-Quarter 2017 Results
- Revenue of $7.5 billion increased 8% sequentially
- Pretax operating income of $950 million increased 25% sequentially
- GAAP loss per share, including charges of $0.40 per share, was $0.05
- EPS, excluding charges, was $0.35
- Quarterly cash dividend of $0.50 per share was approved
Schlumberger Limited (NYSE:SLB) today reported results for the second quarter of 2017.
| (Stated in millions, except per share amounts) | ||||||
| Three Months Ended | Change | |||||
| Jun. 30, 2017 | Mar. 31, 2017 | Jun. 30, 2016 | Sequential | Year-on-year | ||
| Revenue | $7,462 | $6,894 | $7,164 | 8% | 4% | |
| Pretax operating income | $950 | $757 | $747 | 25% | 27% | |
| Pretax operating margin | 12.7% | 11.0% | 10.4% | 175 bps | 231 bps | |
| Net income (loss) (GAAP basis) | $(74) | $279 | $(2,160) | n/m | n/m | |
| Net income, excluding charges and credits* | $488 | $347 | $316 | 41% | 54% | |
| Diluted EPS (loss per share) (GAAP basis) | $(0.05) | $0.20 | $(1.56) | n/m% | n/m | |
| Diluted EPS, excluding charges and credits* | $0.35 | $0.25 | $0.23 | 40% | 52% | |
| *These are non-GAAP financial measures. See section below entitled “Charges & Credits” for details. n/m=not meaningful |
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Schlumberger Chairman and CEO Paal Kibsgaard commented, “Our second-quarter revenue increased 8% sequentially while pretax operating income rose by 25%, resulting in earnings per share growth of 40%. Beyond seasonal effects, revenue grew in all of our Groups and Areas.