SLB SLB is set to report third-quarter 2026 results on Oct. 23, before the opening bell.
In the last reported quarter, its earnings of 55 cents per share beat the Zacks Consensus Estimate of 51 cents, driven by growth in Digital and Production Systems, along with broad-based gains outside the Middle East. The oilfield service player’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 4.94%. This is depicted in the graph below:
SLB Limited Price and EPS Surprise
SLB Limited Price and EPS Surprise
SLB Limited price-eps-surprise | SLB Limited Quote
Estimate Trend for SLB
The Zacks Consensus Estimate for third-quarter earnings per share of 62 cents hasn’t seen any revisions over the past seven days. The estimated figure indicates a 10.1% decline from the prior-year reported number.
The Zacks Consensus Estimate for revenues of $9.3 billion implies a 4.04% increase from the year-ago recorded figure.
Factors to Consider Ahead of SLB Q3 Earnings
To have an idea of how oil prices behaved in the September quarter, let’s analyze the commodity prices from the data provided by the U.S. Energy Information Administration (“EIA”). The average Cushing, OK, WTI spot prices for July, August and September of this year were $80.46, $83.90 and $97.31 per barrel, respectively, per EIA data. Commodity prices were $68.39, $64.86 and $63.96 per barrel, respectively, in prior-year, respective quarters, according to the EIA.
A constructive oil-price backdrop, driven by the Middle East conflicts, aided the exploration and production businesses in the September quarter of this year. This, in turn, is expected to have backed demand for SLB’s oilfield services.
Earnings Whispers
Our proven model doesn’t indicate an earnings beat for SLB this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. That isn’t the case here, as you will see below.
Earnings ESP: SLB currently has an Earnings ESP of -1.45%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Zacks Rank: SLB currently carries a Zacks Rank #3 at present.
Stocks to Consider
Here are some stocks that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
Baker Hughes Company BKR has an Earnings ESP of +1.15% and currently sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
