Summary
SLB LIMITED/NV (SLB) filed a Form 8-K on October 21, 2011, to report its Third-Quarter 2011 financial results. The filing primarily served to disseminate a press release and supplemental information regarding the company's performance for the quarter ended September 30, 2011. Investors should note that this information was furnished rather than filed, meaning it generally won't be incorporated by reference into future SEC filings unless specifically noted. The report highlights key financial metrics, including both GAAP and non-GAAP measures. Notably, SLB provided details on its "Net Debt" and various "excluding charges and credits" metrics, which management believes offer a clearer view of operational trends and performance over time. The non-GAAP adjustments are intended to remove the impact of specific charges and credits to facilitate period-over-period comparisons. Investors are encouraged to review these non-GAAP measures alongside the standard GAAP financials for a comprehensive understanding.
Key Highlights
- 1SLB released its Third-Quarter 2011 financial results via an 8-K filing on October 21, 2011.
- 2The filing includes a press release (Exhibit 99.1) and supplemental information (Exhibit 99.2) detailing Q3 2011 performance.
- 3The company provided both GAAP and non-GAAP financial measures, including Net Debt and various earnings metrics excluding charges and credits.
- 4Management believes non-GAAP measures provide a better understanding of operational trends by excluding certain charges and credits.
- 5Q3 2011 GAAP income from continuing operations attributable to Schlumberger was $1.30 billion, or $0.96 per diluted share.
- 6Q3 2011 non-GAAP income from continuing operations attributable to Schlumberger (excluding charges/credits) was $1.32 billion, or $0.98 per diluted share.
- 7The filing emphasizes that furnished information is not deemed 'filed' under Section 18 of the Exchange Act unless expressly incorporated by reference.