We eagerly anticipate Schlumberger's (NYSE: SLB) results and conference calls each quarter, as management's commentary offers unparalleled context on trends and business conditions in every major oil and gas producing region. Here's our take on the firm's fourth quarter results and the potential implications for other companies in the energy patch.
Schlumberger's December Profit Warning
On Dec. 14, 2012, Schlumberger warned that its fourth quarter earnings per share would suffer a hit of $0.05 to $0.07. The culprits: Seasonal weakness and contract delays in its Europe/CIS/Africa operating region, coupled with weaker-than-expected activity onshore in the US and western Canada.
On the day the company lowered its quarterly guidance, analysts downgraded their estimates for fourth quarter results and the...
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