Schlumberger N.V. (NYSE:SLB) disclosed its third quarter earnings results on Friday 16th October 2020 before market open.
The companyreported $ 0.06 loss per share for the quarter. On adjusted basis, Schlumberger N.V. reported income for the quarter of $ 0.16 per share, beat the consensus estimate of $ 0.12 income per share by $ 0.04 or 33.33 percent.
The firm had revenue of $ 5,258.00 million for the quarter, compared to the consensus estimate of $ 5381.16 million. The revenues fell short of analysts estimates by $ 123.16 million or 2.29 percent.
The financial report showed revenues decreased 38.44 percent versus third quarter of last year.
Analysts estimates are from Thompson Reuters, exclude one time gain or loss.
Schlumberger CEO Olivier Le Peuch commented, Our results in the third quarter clearly demonstrate our focus on execution, returns, and customer performance. Margins expanded sequentially while pretax segment operating income and adjusted EBITDA grew 45 percent and 21 percent, respectively, highlighting notable progress in the reset of our earnings power and further demonstrating our execution capabilities as we transition to our new organization.
On October 15, 2020, the Board of Directors approved a quarterly cash dividend of $0.125 per share of common stock, payable on January 14, 2021 to stockholders of record on December 2, 2020.
