Schlumberger (NYSE:SLB) is expected to report Q2 earnings before the market open on Friday, July 20 with a conference call scheduled for 9:00 am ET.
Analysts are looking for EPS of $1.00 on revenue of $10.41B. The consensus range is 96c-$1.05 for EPS, and $9.89B-$11.23B for revenue, according to First Call. After reporting better-than-expected EPS and revenue in Q1, the company said it expects 2012 oil demand to stabilize while the outlook for dry gas in North America remains uncertain. The company added that Libya will be in "pre-conflict" levels by early 2013. Investors will look for additional comments on the global economic outlook as well as domestic updates on fracking and oil demand. In June, the company lowered its Q2 margin guidance due to larger-than-expected increases in the price of guar gum. Schlumberger may also give updates on its recently-formed oil and gas venture with Liquid Robotics or its agreement to acquire Tesco's Casing Drilling division.