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Mar 31, 2022
Schlumberger Q1 2022 Earnings Report
Schlumberger's first-quarter performance was marked by revenue growth and increased profitability, driven by the strength of core services and broad-based activity increase.
Key Takeaways
Schlumberger's first-quarter results showed a 14% year-on-year increase in revenue, with GAAP EPS up by 71% and EPS excluding charges and credits up by 62%. The company's performance was driven by strong growth in Well Construction and Reservoir Performance divisions, reflecting a robust outlook for the energy services industry.
Revenue increased by 14% year-on-year, reaching $6.0 billion.
GAAP EPS increased by 71% year-on-year to $0.36.
EPS, excluding charges and credits, increased by 62% year-on-year to $0.34.
The board approved a 40% increase in the cash dividend to $0.175 per share.
Schlumberger
Schlumberger
Schlumberger Revenue by Segment
Schlumberger Revenue by Geographic Location
Revenue by Segment
Digital & Integration Revenue
CapyFin.comReservoir Performance Revenue
CapyFin.comWell Construction Revenue
CapyFin.comProduction Systems Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.com Forward Guidance
Schlumberger anticipates maintaining full-year ambitions of year-on-year revenue growth in the mid-teens and adjusted EBITDA margins exiting the year at least 200 basis points higher than the fourth quarter of 2021, with a positive outlook extending into 2023 and beyond.
Positive Outlook
- Increased activity both on land and offshore
- Higher technology adoption
- Pricing momentum will drive simultaneous growth internationally and in North America
- Sequential seasonal rebound in the second quarter
- Significant growth in the second half of the year, particularly in the international market
Challenges Ahead
- Uncertainty linked to Russia
- Potential setback in the economic recovery
- Decline in Europe/CIS/Africa more pronounced due to the depreciation of the ruble
- Global supply chain constraints impacting Production Systems
- Seasonal activity decline in the Northern Hemisphere
Revenue & Expenses
Visualization of income flow from segment revenue to net income