8-KEarnings & ResultsRegulation FDExhibits & Filings

SLB LIMITED/NV 8-K Report, Financial Results (Apr 19, 2013)

Filed April 19, 2013For Securities:SLB

Summary

SLB LIMITED/NV (SLB) filed an 8-K on April 19, 2013, to report its First-Quarter 2013 financial results. The filing includes a press release and supplemental information detailing both GAAP and non-GAAP financial measures. Investors should note that while the press release provides a comprehensive overview, it is furnished and not "filed" under Section 18 of the Exchange Act, meaning it generally won't be incorporated into future SEC filings unless explicitly referenced. The company emphasizes the use of non-GAAP measures like Net Debt and adjusted earnings to provide a clearer view of operational performance and trends, excluding certain charges and credits. The key takeaway for investors is the comparison of Q1 2013 results against prior periods. GAAP income from continuing operations attributable to Schlumberger was $1.26 billion, translating to $0.94 diluted EPS, a decrease from the prior quarter's $1.02 but slightly down from $0.95 in Q1 2012. On a non-GAAP basis, excluding charges and credits, income from continuing operations was $1.35 billion, with diluted EPS of $1.01, a decrease from $1.08 in the previous quarter but an increase from $0.96 in Q1 2012. This suggests some variability in reported earnings, with non-GAAP figures potentially offering a more positive operational trend compared to the immediate prior quarter.

Key Highlights

  • 1SLB released its First-Quarter 2013 financial results on April 19, 2013, via an 8-K filing.
  • 2The filing includes a press release (Exhibit 99.1) and supplemental information (Exhibit 99.2) with financial results.
  • 3Both GAAP and non-GAAP financial measures are presented, with a focus on Net Debt and adjusted earnings (excluding charges and credits).
  • 4Q1 2013 GAAP income from continuing operations attributable to Schlumberger was $1.26 billion, or $0.94 per diluted share.
  • 5Q1 2013 non-GAAP income from continuing operations (excluding charges/credits) was $1.35 billion, or $1.01 per diluted share.
  • 6The non-GAAP diluted EPS of $1.01 for Q1 2013 was lower than the prior quarter ($1.08) but higher than Q1 2012 ($0.96).
  • 7The provided financial information is furnished and not deemed 'filed' for Section 18 purposes, unless specifically incorporated by reference in other filings.

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