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Sep 30, 2022
Schlumberger Q3 2022 Earnings Report
Schlumberger's Q3 2022 results were announced, demonstrating revenue growth and margin expansion driven by international momentum and solid execution.
Key Takeaways
Schlumberger reported strong Q3 2022 results with a 10% sequential increase in revenue to $7.5 billion and a 26% sequential increase in EPS, excluding charges and credits, to $0.63. The company's pretax segment operating margin expanded by 161 basis points to 18.7%, and free cash flow was $1.1 billion. International revenue grew significantly, exceeding 2019 levels, and the company saw strong growth in Well Construction and Production Systems divisions.
Total revenue increased 10% sequentially and 28% year-on-year, reaching $7.5 billion.
International revenue grew 13% sequentially and 26% year-on-year, surpassing pre-pandemic levels.
EPS, excluding charges and credits, rose 26% sequentially and 75% year-on-year, achieving the highest level since 2015.
Pretax segment operating margin expanded 161 basis points sequentially and 320 basis points year-on-year, also reaching the highest level since 2015.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Schlumberger anticipates continued sequential revenue growth and margin expansion in the fourth quarter, driven by constructive market fundamentals for oil and gas, energy security, and the urgency to accelerate the energy transition.
Positive Outlook
- Constructive market fundamentals for oil and gas.
- Increased energy security concerns.
- Urgency to accelerate the energy transition.
- Increased investment in clean energy technology development.
- Increased investment in lower carbon oil and gas production.
Challenges Ahead
- Concerns remain over the broader economic climate.
- Limited spare global capacity.
- Geopolitical factors.
- Increasing instances of supply disruptions.
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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