Schlumberger LimitedNYSE: SLB

SLB's OneSubsea and BP are working together to implement advanced subsea boosting systems to enhance resource recovery in the Kaskida project located in the Gulf of Mexico.

Schlumberger is a highly-rated stock according to the "Magic Formula," which looks for companies with good earnings yield and return on invested capital for strong results. This formula, created by Joel Greenblatt, helps find stocks that are both affordable and of high quality. Similar to Baker Hughes, Schlumberger is seeing improved profit margins in the oil and gas equipment industry.

The Investment Committee discusses the most recent Calls Of The Day.

SLB's comments for the third quarter indicated lower growth expectations, which worried investors. However, the key point is that the growth from the last few years is now starting to show in the free cash flow. It looks like 2024 will be a turning point for share buybacks, with 2025 expected to be even better.

Schlumberger Limited (NYSE:SLB) will hold its Q3 2024 Results Conference Call on October 18, 2024, at 9:30 AM ET. The call will feature company representatives, including James McDonald, Olivier Le Peuch, and Stephane Biguet, along with participants from various financial institutions. The operator will begin the call by welcoming everyone and introducing the earnings discussion.

The Investment Committee talks about some of their stocks that are changing in value.

Schlumberger (SLB) reported quarterly earnings of $0.89 per share, which is higher than the Zacks Consensus Estimate of $0.88 per share. This is an increase compared to earnings of $0.78 per share from the same period last year.

Schlumberger's stock has dropped because their revenue did not meet expectations, which is partly due to some international customers being careful with their spending as oil prices decreased.

In the third quarter, earnings per share were $0.89, which is higher than the $0.85 reported in the second quarter and above the analysts' prediction of $0.88.