Schlumberger Shares Gain After Q2 Earnings Beat, Declares $0.125 Dividend

Schlumberger NV SLB reported second-quarter revenue growth of 5.2% year-over-year to $5.63 billion, beating the consensus of $5.50 billion.
Revenue by division: Digital & Integration $817 million (+32% Y/Y), Reservoir Performance $1.12 billion (-4% Y/Y), Well Construction $2.11 billion (+1% Y/Y), Production Systems $1.68 billion (+8% Y/Y).
EPS improved to $0.30, compared to EPS loss of $(2.47) a year ago, beating consensus of $0.26.
Schlumberger’s North America revenue grew 11% sequentially, driven by U.S. land revenue, which increased 19% due to higher drilling activity and increased sales of well and surface production systems.
Pretax operating margin expanded by 162 bps sequentially to 14.3%.
Cash flow from operations for year-to-date totaled $1.65 billion, compared to $1.59 billion a year ago. Free cash flow stands at $1.03 billion.
Adjusted EBITDA increased by 42.9% Y/Y to $1.19 billion, and margin expanded by 560 bps to 21.3%.
The company’s Board of Directors approved a quarterly cash dividend of $0.125 per share, payable on October 7, 2021, to stockholders of record on September 1, 2021.
Price action: SLB shares traded higher by 2.29% at $28.62 in the premarket session on the last check Friday.

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