Schlumberger Limited. SLB reported its fourth quarter results in which the world's largest oilfield services company earned $0.27 per share on revenue of $7.11 billion.
Wall Street analysts were expecting Schlumberger to earn $0.27 per share on $7.07 billion.
The company's earnings, however, took a back seat to comments Schlumberger CEO Paal Kibsgaard made during the post-earnings conference call.
Kibsgaard told investors during the call that he sees the current business environment as being "unsustainable for us." He added that he isn't expecting to see a dramatic, short-term recovery in the international market, as oil prices are expected to fluctuate near current levels for the next few months.
He also said the company continues to experience payment delays from some customers.
The executive further stated its offshore business is unsustainable and the current environment will either lead to recovering service pricing or a narrowing of service offerings.
Kibsgaard, however, did acknowledge that all of the energy-related markets have indeed reached bottom and aside from seasonal slowdowns in the first quarter, all markets are expected to improve moving forward.
Shares of Schlumberger were trading lower by nearly 2 percent after Friday's opening bell at $85.70.
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