Schlumberger Ltd.'s (SLB) fourth-quarter earnings fell 3.7% amid merger
and integration costs and lower revenue from its Europe/Commonwealth of
Independent States/
Africa
region.
Schlumberger, the world's largest oil-field-services company, has seen its
revenue soar in recent quarters as exploration and production companies ramped
up activity in areas like the deep-water U.S. Gulf of Mexico and vast oil-rich
shale formations around the U.S. But the company warned last month its
fourth-quarter earnings would take a hit from weaker-than-expected
North
America
activity and delays in
Europe
, the
Commonwealth of Independent States and
Africa
.
Schlumberger reported a profit of $1.36 billion, or $1.02 a share, down from
$1.41 billion, or $1.05 a share, a year earlier. Excluding items such as merger
and integration costs, per-share earnings from continuing operations fell to
$1.08 from $1.10. Revenue jumped 8.5% to $11.17 billion.
Analysts polled by Thomson Reuters had most recently forecast per-share
earnings of $1.07 on revenue of $10.82 billion.
Operating margin fell to 16.2% from 18.2%.
Oil-field services revenue from
North America
, the
region which generates most of the top-line, rose 3.6% from the third quarter
to $3.41 billion.
The Europe/Commonwealth of Independent States/
Africa
region's revenue declined 1% from the prior quarter while the
Middle
East
and
Asia
posted a 9.6% increase.
Latin
America
revenue was up 11%, sequentially.
Shares closed Thursday at $73.37 and were inactive premarket. The stock has gained 3.9% over
the past year.