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Jun 30, 2022
Schlumberger Q2 2022 Earnings Report
Schlumberger's second quarter was marked by strong revenue and earnings growth, with revenue growing 14% sequentially and EPS increasing 47% excluding charges and credits.
Key Takeaways
Schlumberger reported a strong second quarter with revenue of $6.8 billion, a 14% sequential increase. GAAP EPS was $0.67, and EPS excluding charges and credits was $0.50. The company has revised its full-year revenue outlook upward to at least $27 billion.
Revenue increased 14% sequentially and 20% year on year.
GAAP EPS increased 86% sequentially and 123% year on year.
EPS, excluding charges and credits, increased 47% sequentially and 67% year on year.
Full-year revenue outlook revised upward to at least $27 billion.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Schlumberger anticipates a strong second half of the year, supported by a resilient global oil and gas activity growth in 2022 and beyond, and expects 2022 year-on-year revenue growth to be in the high-teens, translating to full-year revenue of at least $27 billion. The company aims to exit the year with adjusted EBITDA margins 200 basis points higher than in the fourth quarter of 2021.
Positive Outlook
- Upstream activity and service pricing steadily increasing both internationally and in North America.
- Combination of energy security, favorable break-even prices, and the urgency to grow oil and gas production capacity.
- Decoupling of upstream spending from near-term demand volatility.
- Resilient global oil and gas activity growth in 2022 and beyond.
- Ambition to exit the year with adjusted EBITDA margins 200 basis points higher than in the fourth quarter of 2021.
Challenges Ahead
- Near-term concerns over a global economic slowdown.
- Potential impact of global economic and geopolitical conditions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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