Will rising oil & gas prices push Schlumberger's Q1 Earnings higher?
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Schlumberger (NYSE:SLB) is scheduled to announce Q1 earnings results on Friday, April 22nd, before market open.
The consensus EPS Estimate is $0.33 (+57.1% Y/Y) and the consensus Revenue Estimate is $5.9B (+13.0% Y/Y).
Over the last 2 years, SLB has beaten EPS estimates 100% of the time and has beaten revenue estimates 50% of the time.

Over the last 3 months, EPS estimates have seen 0 upward revisions and 18 downward. Revenue estimates have seen 3 upward revisions and 10 downward.
In Q4, the company said that is planning to boost spending by 18% to $1.9B-$2B this year (compared to $1.7B in 2021), serving North American oil explorers who should dominate activity in the first half of the year, followed by international growth in the final six months.
CEO Olivier Le Peuch believes that global demand-led capital spending will drive an exceptional multi-year growth cycle.
Peer company Halliburton CEO Jeff Miller said that the rush to drill shale oil should accelerate as the global energy market looks for alternatives to riskier, costlier, and more time-consuming traditional projects like deep-water wells.
After a turmoil filled two years in energy markets, Schlumberger's earnings are likely to show strong demand for its services as oil and gas producers rush to increase output amid tight supplies and rising demand.
With rising crude oil prices benefitting oilfield services stocks, Piper Sandler upgraded Schlumberger to Overweight from Neutral and Morgan Stanley favors the company given the company's exposure to a recovery in international spend; SLB was also part of Goldman's picks for high and stable gross margins.
Since the Russian invasion of Ukraine in February, SLB stock price has gained 8.1%.
Peer companies Baker Hughes (BKR) saw a swing toQ1 net income with an orders jump of 51% while Halliburton (HAL) saw Q1 revenues growing 24%.
Of the 30 Wall Street analysts covering the stock, 15 analysts saw a Strong Buy while 10 saw a Buy rating.
Recent earnings Analysis from our contributors: Schlumberger Q1 2022 Preview: Expect Strong Performance