Research Desk Line-up: Halliburton Post Earnings Coverage

LONDON, UK / ACCESSWIRE / July 28, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Schlumberger Ltd. (NYSE: SLB), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=SLB, following the Company's reporting of its financial results on July 21, 2017, for Q2 FY17. The world's largest oilfield services Company's revenue grew 8% sequentially, while pretax operating income rose by 25% sequentially. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at: http://protraderdaily.com/register/.

Get more of our free earnings reports coverage from other constituents of the Oil & Gas Equipment & Services industry. Pro-TD has currently selected Halliburton Company (NYSE: HAL) for due-diligence and potential coverage as the Company announced on July 24, 2017 its financial results for Q2 2017. Register for a free membership today, and be among the early birds that get access to our report on Halliburton when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on SLB; also brushing on HAL. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=SLB
http://protraderdaily.com/optin/?symbol=HAL

Earnings Reviewed


Schlumberger generated revenues of $7.46 billion for Q2 FY17, compared to $7.16 billion in Q2 FY16, denoting a q-o-q increase of 8% and a y-o-y increase of 4%, compared to revenue of $6.89 billion. The Company's revenue numbers exceeded analysts' estimates of $7.26 billion.

Schlumberger's pretax operating income stood at $950 million in Q2 FY17, compared to $757 million in Q1 FY17, representing an increase of 25% q-o-q, and $747 million in Q2 FY16, an increase of 27% y-o-y. The q-o-q pretax operating margin increased by 175 basis points (bps), while y-o-y growth was 231 bps in the reported quarter.

Schlumberger's net loss in Q2 FY17 was $74 million, denoting a significant reduction in loss compared to $2.16 billion in loss in Q2 FY16. The diluted earnings per share (EPS) for Q2 FY17 were a negative $0.05 compared to a negative $1.65 in Q2 FY16. The Company's earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were $0.35 per share. The Company's results topped Wall Street's expectations for earnings of $0.30 per share. During Q2 FY17, Schlumberger recorded $0.40 per share of charges primarily related to Cameron's merger and integration charges as well as a financing agreement the Company entered into with its primary customer in Venezuela.

Segment Information

Schlumberger's revenue generated from Europe/CIS/Africa was $1.75 billion in Q2 FY17, compared to $1.65 billion in Q1 FY17; noting an increase of 6%. However, compared to Q2 FY16, the Company generated 10% lower revenues ($1.95 billion) from the region. The sequential increase was due to recovery of activity from the winter slowdown in Russia and the North Sea.

In Latin America, the Company's Q2 FY17 revenue was $1.04 billion, compared to $1.01 billion in Q2 FY16; noting an increase of 3% y-o-y, primarily due to higher reservoir characterization and drilling activities in the Mexico and Central America GeoMarkets, as well as from increased unconventional land activity in Argentina.

In North America, Q2 FY17 revenue generated was $2.20 billion, compared to $1.74 billion in Q2 FY16; noting an increase of 27% y-o-y. The q-o-q increase in revenues from this region was 18% as revenues grew from $1.87 billion in Q1 FY17.

In the Middle-East & Asia Area, Schlumberger generated revenue of $2.35 billion in Q2 FY17, compared to $2.40 billion in Q2 FY16; noting a decrease of 2% y-o-y. The Q2 FY17 revenue from the region increased 1% on a sequential basis from revenue of $2.32 billion. The primary drivers for the q-o-q increase was a seasonal rebound in China, increased activities in Southeast Asia, and higher Integrated Drilling Services (IDS) activity in Iraq.

Cash Matters

The net debt of Schlumberger increased in Q2 FY17 y-o-y from $10.05 billion in Q2 FY16 to $12.60 billion. On the other hand, cash and short-term investments in Q2 FY17 decreased to $6.22 billion from $7.35 billion in Q1 FY17 and from $11.19 billion in Q2 FY16.

The cash flow from operations in Q2 FY17 was $858 million and free cash flow was $97 million in Q2 FY17.

During the reported quarter, Schlumberger repurchased 5.5 million shares of its common stock at an average price of $72.34 per share for a total purchase price of $398 million and approved a quarterly cash dividend of $0.50 per share.

On July 19, 2017, the Company's Board of Directors approved a quarterly cash dividend of $0.50 per share of outstanding common stock, payable on October 13, 2017, to stockholders of record on September 06, 2017.

Stock Performance

On Thursday, July 27, 2017, the stock closed the trading session at $67.78, rising 1.18% from its previous closing price of $66.99. A total volume of 6.79 million shares have exchanged hands. Schlumberger's stock price advanced 3.70% in the last one month. The stock has a dividend yield of 2.95%. The stock currently has a market cap of $94.87 billion.

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SOURCE: Pro-Trader Daily