Steven Fiorillo 43.31K Followers

Summary

SLB N.V. is upgraded from neutral to bullish after Q3 results signal an end to earnings declines and renewed growth momentum.

Q3 delivered double beats on revenue and EPS, with all four divisions expanding margins sequentially and strong performance outside the Middle East.

SLB guides for ~$10B Q4 revenue despite flat Middle East activity, with 2027 EPS projected to grow 30% YoY and valuation returning to historical norms.

Dividend yield has improved to 2.22%, buybacks are robust, and the Kelvion acquisition is expected to be accretive within 12 months of closing.

peshkov/iStock via Getty Images

When I downgraded SLB N.V. (SLB) to a hold a little under 2 months ago, its share price had increased by more than 60%, from where I discussed it as one of my contrarian ideas. Due to

This article was written by

Steven Fiorillo 43.31K Followers

I am focused on growth and dividend income.…