By: Inspenet, October 26, 2022
The largest provider of oilfield services, the Schlumberger company posted its biggest profit in seven years. Schlumberger third-quarter adjusted net income rose to $907 million, the highest since 2015. The shares were up 2% in premarket trading.
“We delivered another quarter of double-digit revenue growth and margin expansion as the pace of growth in our international business accelerated significantly, complementing already strong activity levels in North America,” said CEO Olivier Le Peuch. it’s a statement. announcing the results. “We expect to achieve sequential revenue growth and margin expansion in the fourth quarter,” he added.
Schlumberger, which is an industry benchmark due to its unmatched global presence and extensive international order book, previously forecast its biggest jump in annual sales in more than a decade. While the number of international platforms is still 25% lower than three years ago, the company’s sales have already exceeded revenue for that period.
This material from petrobanca.com was edited for clarity, style and length.
Source : https://petrobanca.com/schlumberger-exceeds-earnings-estimates/
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