Boston, MA 04\/16\/2014 (wallstreetpr) \u2013 Schlumberger Limited. (NYSE:SLB)<\/b> reports its fiscal 2014 first quarter Thursday. The release of the results will happen before the market opens. The management will hold a conference call to discuss the results on the same day.<\/p>\n
In the most recent reporting, the oilfield services company reported earnings per share in-line with consensus estimates at $1.35. However, revenue was weaker than expected, coming at $11.91 billion against $12.06 billion that Wall Street estimated. Comparing the previous year\u2019s performance over the same period, both EPS and revenue were up.<\/p>\n
As the next reporting fast approaches, the company expects to post better results than it did a year ago. At a recent energy conference, the company\u2019s CEO Paal Kibsgaard said they expect strong growth in earnings per share in the first quarter compared with the same period last year. The expected EPS growth, he said, further confirms their position that 2014 would be a very rewarding year for the company.<\/p>\n
The source of growth<\/b><\/p>\n
Schlumberger Limited. (NYSE:SLB) expects growth to come from its deals with independent and state-owned companies around the world that are spending more on shale development as multinational companies trim their spending. Mr. Kibsgaard observed that multinational companies are cutting on project spending, therefore, leaving the company to focus more on serving smaller players and the effort is paying off very well.<\/p>\n
Moreover, earnings growth in the first quarter is expected to come from cost cuts that the company is aggressively undertaking. Also, Mr. Kibsgaard stated that Schlumberger Limited. (NYSE:SLB) has continued to edge out rivals from the market due to their superior technology.<\/p>\n
Schlumberger Limited. (NYSE:SLB) has significantly reduced its exposure to the North American market. That move is important as oversupply of gas in the market is forcing many rig operators to idle their facilities to allow prices to recover. Due to the rapid growth of its global investment, Schlumberger currently generates about 70 percent of its revenue outside North America.<\/p>\n
Up next<\/b><\/p>\n
Wall Street expects Schlumberger to earn $1.22 per share in the first quarter. The company reported $1.01 a share a year ago.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 04\/16\/2014 (wallstreetpr) \u2013 Schlumberger Limited. (NYSE:SLB) reports its fiscal 2014 first quarter Thursday. The release of the results will happen before the market […]<\/p>\n","protected":false},"author":6,"featured_media":19713,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[3028,3027],"stock_ticker":[],"class_list":["post-19712","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-nyseslb","tag-schlumberger-limited-nyseslb","entry"],"acf":[],"yoast_head":"\n