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Sep 30, 2021
Schlumberger Q3 2021 Earnings Report
Schlumberger's Q3 2021 performance saw revenue growth, margin expansion, and solid free cash flow, driven by Well Construction and Reservoir Performance divisions.
Key Takeaways
Schlumberger reported strong Q3 2021 results with revenue increasing 4% sequentially and 11% year-on-year to $5.85 billion. GAAP EPS was $0.39, a 30% sequential increase, and free cash flow was $671 million. The company is confident in achieving its mid-cycle adjusted EBITDA margin ambition of 25% or higher and sustaining a double-digit free cash flow margin throughout the cycle.
Global revenue increased 4% sequentially and 11% year-on-year, reaching $5.85 billion.
GAAP EPS was $0.39, reflecting a 30% sequential increase.
Free cash flow stood at $671 million for the quarter.
Pretax segment operating margin reached its highest level since 2015.
Schlumberger
Schlumberger
Schlumberger Revenue by Segment
Schlumberger Revenue by Geographic Location
Revenue by Segment
Digital & Integration Revenue
CapyFin.comReservoir Performance Revenue
CapyFin.comWell Construction Revenue
CapyFin.comProduction Systems Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comLatin America Revenue
CapyFin.comEurope & Africa Revenue
CapyFin.comMiddle East & Asia Revenue
CapyFin.com Forward Guidance
Schlumberger anticipates another quarter of growth and expects to close 2021 with strong momentum, setting the foundation for an exceptional growth cycle, driven by strengthened industry macro fundamentals.
Positive Outlook
- Demand recovery
- Oil and gas commodity prices at recent highs
- Low inventory levels
- Encouraging trends in pandemic containment efforts
- Favorable conditions expected to materially drive investment over the next few years
Challenges Ahead
- Recession
- Pandemic-related setback
- Changing global economic conditions
- Changes in exploration and production spending by Schlumberger’s customers
- General economic, geopolitical, and business conditions in key regions of the world
Revenue & Expenses
Visualization of income flow from segment revenue to net income