SLB Reports Second Quarter FY2023 Earnings Results on July 21
August 24, 2023
🌥️Earnings Overview
On July 21 2023, SLB ($NYSE:SLB) released their financial results for the second quarter of FY2023, which concluded on June 30 2023. Total revenue surged 19.6% year-on-year to USD 8099.0 million, and reported net income increased 7.7% to USD 1033.0 million.
Share Price
This slight decrease in stock value is likely due to the company’s mixed performance in this quarter. This decrease in revenue and net income is largely due to the global pandemic and the effect it has had on the oil industry. Despite this decrease in financials, SLB was still able to report positive numbers. Overall, SLB’s second quarter results reflect the continued impact of the global pandemic on the oil industry as well as the company’s ability to remain financially stable with its positive cash flow numbers and debt reduction. slb&utm_title=SLB_Reports_Second_Quarter_FY2023_Earnings_Results_on_July_21″>Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Slb. More…
| Total Revenues | Net Income | Net Margin |
| 31.19k | 3.94k | 12.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Slb. More…
| Operations | Investing | Financing |
| 5.12k | -2.57k | -3.38k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Slb. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 44.83k | 25.89k | 12.68 |
Key Ratios Snapshot
Some of the financial key ratios for Slb are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 1.8% | 28.0% | 17.4% |
| FCF Margin | ROE | ROA |
| 10.2% | 18.8% | 7.6% |
Analysis
At GoodWhale, we have carefully analyzed SLB’s fundamentals and have made the following assessment. Our Risk Rating rates SLB as a medium risk investment, taking into consideration both the financial and business aspects of the company. Upon further investigation, we’ve detected three risk warnings in SLB’s income sheet, balance sheet, and non-financial information. To learn more about these potential risks, register with us and check it out. slb&utm_title=SLB_Reports_Second_Quarter_FY2023_Earnings_Results_on_July_21″>More…
Peers
The competition between SLB and its competitors is intense. All four companies are striving to be the best in the oil and gas industry. They are all fighting for market share, customers, and employees. Each company has its own strengths and weaknesses, and each is trying to capitalize on the other’s weaknesses. The competition between these four companies is fierce, and it is only getting more intense.
– Expro Group Holdings NV ($NYSE:XPRO)
Expro Group Holdings NV is a holding company that provides services and products to the oil and gas industry. The company has a market cap of 2B as of 2022 and a Return on Equity of -2.97%. The company’s services and products include exploration and production, drilling, well intervention, and decommissioning. The company operates in more than 30 countries and employs approximately 5,000 people.
– NexTier Oilfield Solutions Inc ($NYSE:NEX)
NexTier Oilfield Solutions Inc. is a leading provider of oilfield services and products. The company has a market capitalization of $2.51 billion and a return on equity of 20.02%. NexTier Oilfield Solutions Inc. provides a wide range of services and products to the oil and gas industry, including drilling, completion, and production services. The company has a strong focus on safety and environmental protection.
– STEP Energy Services Ltd ($TSX:STEP)
STEP Energy Services Ltd is a Canadian oilfield services company that provides horizontal and directional drilling services, fluid management services, and coiled tubing services to oil and gas companies in Western Canada and the United States. The company has a market cap of 458.41M as of 2022 and a Return on Equity of 19.47%. STEP Energy Services Ltd is headquartered in Calgary, Alberta.
Summary
Analysts have reacted positively to Schlumberger’s second quarter FY2023 earnings results, which were reported on July 21st. Total revenue increased 19.6% year-on-year to USD 8099.0 million, while reported net income rose 7.7% to USD 1033.0 million. This was driven in part by improved activity in the international markets, as well as cost optimization initiatives.
Investors have been pleased with the strengthening of Schlumberger’s balance sheet and the progress the company has made in its operational efficiency. Given the better-than-expected performance, investors are optimistic that the stock should continue to perform well in the foreseeable future.
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