HOUSTON (dpa-AFX) - (Adds Share repurchase, dividend, stock movement)
Schlumberger Limited (SLB) expects to return a minimum of $4 billion to shareholders through dividends and share repurchases in 2025. The company said: 'SLB is committed to returning more than 50% of its free cash flow to our shareholders, and we will materially exceed this target in 2025. We continue to have confidence in our ability to generate strong cash flow in the current environment,'
SLB was down by 2.03 percent at $34.22 in the pre-market trade on the New York Stock Exchange.
Q1 Results:
Schlumberger revealed earnings for first quarter that decreased from last year and missed the Street estimates.
The company's earnings came in at $797 million, or $0.58 per share. This compares with $1.068 billion, or $0.74 per share, last year.
Excluding items, Schlumberger Ltd. reported adjusted earnings of $988 million or $0.72 per share for the period.
Analysts on average had expected the company to earn $0.73 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 2.5% to $8.490 billion from $8.707 billion last year.
Schlumberger Ltd. earnings at a glance (GAAP) :
-Earnings: $797 Mln. vs. $1.068 Bln. last year. -EPS: $0.58 vs. $0.74 last year. -Revenue: $8.490 Bln vs. $8.707 Bln last year.
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