Schlumberger Warns of Weaker 4Q
Schlumberger warned of impacts to its 4Q results that will weaken EPS by $0.05-$0.07, the company wrote in an "operational update" released today. In the tersely-worded statement, the company said that earnings will be affected by several negative developments in key markets.
These include sustained contractual delays in combination with higher-than-typical seasonal activity slowdowns in the firm's Europe/CIS/Africa region. Additionally, Schlumberger said that activity in North America "is weaker than anticipated on land in the US and Western Canada."
The company did not elaborate on either factor.
Schlumberger is to discuss its 4Q results in much greater detail in a conference call on January 18.
The article Schlumberger Warns of Weaker 4Q originally appeared on Fool.com.Eric Volkman has no positions Schlumberger. The Motley Fool has no positions in Schlumberger. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.