Schlumberger Limited. (NYSE:SLB) will report third-quarter 2023 financial results on October 20, before the opening bell, with analysts expecting its earnings per share (EPS) to increase 22% year over year to $0.77 according to Zacks Investment Research.
The world's largest offshore drilling company is also anticipated to report revenue for the period of $8.3 billion, up 11% from a year earlier.
Higher oil and natural gas prices during the quarter are expected to boost Schlumberger’s well construction and reservoir performance activities, as the big energy companies will have likely spent more on exploration and production.
During 2Q, the company surpassed earnings expectations but missed on revenue on weaker North American oilfield activity.
Schlumberger’s earnings have beaten the Zacks Consensus Estimate in the trailing four quarters.
Shares of Schlumberger edged 0.8% higher to $60.70 in midday trading on Wednesday and have gained 18% year to date.
Contact Sean at sean@proactiveinvestors.com