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OFS - Impairment charges all the rage in Q3 earnings reports - October 2019

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Q3 earnings season arrived with Schlumberger’s report on Oct. 18, and it seems to have set the mood for the service sector—a dark, dreary mood. The industry giant posted a $11.3 billion net loss, its largest in at least a decade. Early returns suggest Q3 will be an earnings season where “not as bad as expected” is the new “good.” Most of Schlumberger’s loss came from non-cash charges, another common theme of the reports.......
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