January 19, 2018 / 12:13 PM / 3 months ago

BRIEF-Schlumberger Q4 Earnings Per Share $0.48 Excluding Items

Jan 19 (Reuters) - Schlumberger NV:

* ANNOUNCES FULL-YEAR AND FOURTH-QUARTER 2017 RESULTS

* Q4 EARNINGS PER SHARE $0.48 EXCLUDING ITEMS

* Q4 REVENUE $8.2 BILLION VERSUS I/B/E/S VIEW $8.16 BILLION

* Q4 EARNINGS PER SHARE VIEW $0.46 — THOMSON REUTERS I/B/E/S

* NV - FOURTH-QUARTER GAAP LOSS PER SHARE, INCLUDING CHARGES OF $2.11 PER SHARE, WAS $1.63

* NV - ‍ CAPEX FOR FULL YEAR 2018 IS EXPECTED TO BE APPROXIMATELY $2 BILLION​

* NV - FOURTH-QUARTER REVENUE INCREASE WAS LED BY PRODUCTION GROUP, WHICH GREW BY 7 PERCENT

* NV - QTRLY PRETAX OPERATING MARGIN OF 14.1 PERCENT VERSUS 11.4 PERCENT LAST YEAR

* NV - “LOOKING AT OIL MARKET, STRONG GROWTH IN DEMAND IS PROJECTED TO CONTINUE IN 2018, ON BACK OF A ROBUST GLOBAL ECONOMY”

* - IN NORTH AMERICA, 2018 SHALE OIL PRODUCTION IS SET FOR ANOTHER YEAR OF STRONG GROWTH

* NV - QTRLY NORTH AMERICA REVENUE $2,811 MILLION VERSUS $1,765 MILLION

* - “PRODUCTION BASE IN REST OF WORLD IS SHOWING FATIGUE AFTER THREE YEARS OF UNPRECEDENTED UNDERINVESTMENT”

* NV - ‍RECORDED A NET CHARGE OF $76 MILLION DURING Q4 OF 2017 AS IMPACT OF U.S. TAX REFORM​

* - “UNDERLYING SIGNS OF WEAKNESS” WILL LIKELY BECOME MORE EVIDENT IN COMING YEAR IN REST OF THE WORLD

* - “OIL MARKET IS NOW IN BALANCE AND PREVIOUS OVERSUPPLY DISCOUNT IS GRADUALLY BEING REPLACED BY A MARKET TIGHTNESS PREMIUM”

* NV - RECORDED ‍$3.041 BILLION OF PRETAX CHARGES DURING Q4 OF 2017​

* NV - HAVE TAKEN DECISION TO EXIT MARINE AND LAND SEISMIC ACQUISITION MARKET

* - ONLY PRODUCT LINE THAT DOES NOT MEET CO’S RETURN EXPECTATIONS GOING FORWARD IS THE SEISMIC ACQUISITION BUSINESS

* NV - TO TURN WESTERNGECO PRODUCT LINE INTO AN ASSET-LIGHT BUSINESS

* NV - RECORDED A CHARGE OF $938 MILLION DURING THE FOURTH QUARTER DUE TO WRITE-DOWN OF VENEZUELA INVESTMENT Source text for Eikon: Further company coverage:

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