Schlumberger Q1 2023 Earnings Report
Key Takeaways
SLB's first quarter 2023 results showed strong growth, with revenue increasing by 30% year-on-year to $7.7 billion and GAAP EPS increasing by 81% to $0.65. The company experienced growth across all divisions and geographies, driven by increased activity, pricing, and technology adoption.
Revenue increased by 30% year-on-year to $7.7 billion.
GAAP EPS increased by 81% year-on-year to $0.65.
Net income attributable to SLB increased by 83% year-on-year to $934 million.
Adjusted EBITDA increased by 43% year-on-year to $1.8 billion.
Schlumberger
Schlumberger
Schlumberger Revenue by Segment
Schlumberger Revenue by Geographic Location
Forward Guidance
SLB anticipates strong growth in the second quarter, driven by seasonal recovery in the Northern Hemisphere, capacity expansion projects in the Middle East, and robust activity in Asia and Sub-Sahara Africa. This growth is expected to support broad sequential margin expansion across divisions and geographies.
Positive Outlook
- Strong growth expected in Q2 due to seasonal recovery in the Northern Hemisphere.
- Capacity expansion projects in the Middle East are expected to contribute to growth.
- Robust activity in Asia and Sub-Sahara Africa is anticipated.
- Broad sequential margin expansion across divisions and geographies is expected.
- The company is confident in achieving its full-year 2023 and through-cycle targets.
Revenue & Expenses
Visualization of income flow from segment revenue to net income