Summary
SLB LIMITED/NV (SLB) filed an 8-K on October 19, 2012, primarily to furnish its Third-Quarter 2012 Results Press Release and Supplemental Information. This filing highlights the company's financial performance for the third quarter of 2012, providing both GAAP and non-GAAP financial measures. Investors should note the slight increase in income from continuing operations and diluted earnings per share compared to both the previous quarter and the same quarter in the prior year. The report also details the company's use of certain non-GAAP financial measures, such as Net Debt and adjusted income/EPS, explaining management's rationale for using these metrics to provide a clearer operational perspective. While these measures are presented to offer additional insights, investors are reminded that they should be considered alongside, and not as a substitute for, GAAP measures.
Key Highlights
- 1SLB reported Third-Quarter 2012 income from continuing operations attributable to the company of $1.41 billion.
- 2Diluted earnings per share (EPS) from continuing operations in Q3 2012 was $1.06, an increase from $1.03 in the previous quarter and $0.95 in Q3 2011.
- 3The company also provided non-GAAP "income from continuing operations attributable to Schlumberger, excluding charges and credits" at $1.44 billion, with a corresponding adjusted diluted EPS of $1.08.
- 4These adjusted non-GAAP measures aim to provide a better view of operational trends by excluding certain charges and credits.
- 5Net Debt is defined as gross debt less cash, short-term investments, and held-to-maturity fixed income investments.
- 6The financial results were furnished via press release and supplemental information, not considered 'filed' for Section 18 purposes unless expressly incorporated into other filings.
- 7The report includes information on the company's principal executive offices located in Curaçao, Paris, Houston, and The Hague.