By Brian Swint
SLB, the oil services firm formerly known as Schlumberger, fell short of earnings expectations in the first quarter. The stock was falling Friday.
The company's fortunes are closely tied to prices of oil and gas, and they haven't provided much help--West Texas Intermediate, the U.S. benchmark for crude, has dropped 11% since Jan. 1 and is down 25% over the past year.
SLB reported adjusted earnings of 72 cents a share on revenue of $8.5 billion. Analysts expected EPS of 73 cents a share on revenue of $8.6 billion.
The shares fell 0.4% to $34.78 when the market opened. They have declined 17% in the past month.
SLB was a Barron's stock pick last year. It competes with Halliburton, Liberty Energy, and Baker Hughes.
Write to Brian Swint at brian.swint@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
April 25, 2025 10:38 ET (14:38 GMT)
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