SLB Issues Update On Middle East Operations; To Incur Additional Costs
(RTTNews) - SLB (SLB) said it continues to closely monitor the situation in the Middle East and adapt its operations. For the first quarter, the company expects revenue will be lower than expected. SLB expects to incur additional costs resulting in an impact of approximately 6-9 cents of earnings per share for the first quarter.
The company has activated local and regional crisis response teams. Also, it has begun to demobilize operations in a few countries. SLB said it will begin a phased resumption of full activity as conditions allow.
In pre-market trading on NYSE, SLB shares are down 2.4 percent to $46.95.
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