Loading...
•
Mar 31, 2024
Schlumberger Q1 2024 Earnings Report
SLB's first quarter results were announced, highlighting revenue growth and strategic acquisitions.
Key Takeaways
SLB announced strong first-quarter results with revenue increasing by 13% year-on-year to $8.71 billion. The company's EPS, excluding charges and credits, rose by 19% to $0.75, and net income attributable to SLB increased by 14% to $1.07 billion. The company is targeting to return $7 billion to shareholders over 2024-2025.
Revenue increased 13% year-on-year to $8.71 billion.
EPS, excluding charges and credits, increased 19% year-on-year to $0.75.
Net income attributable to SLB increased 14% year-on-year to $1.07 billion.
The company is targeting to return $7 billion to shareholders over the next two years.
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.comLatin America Revenue
CapyFin.comEurope & Africa Revenue
CapyFin.comMiddle East & Asia Revenue
CapyFin.com Forward Guidance
SLB anticipates a rebound in activity in the Northern Hemisphere and robust international activity, especially in the Middle East, Asia, and Africa, which will drive broad sequential margin expansion across all Divisions and geographies. They affirm previous guidance of mid-teens EBITDA growth for the full year.
Positive Outlook
- Seasonal rebound in activity expected in the Northern Hemisphere.
- Robust international activity anticipated, led by the Middle East, Asia, and Africa.
- Broad sequential margin expansion expected across all Divisions and geographies.
- Affirmation of previous guidance of mid-teens EBITDA growth for the full year.
- Strong start to the year boosts confidence in generating robust cash flows.
Challenges Ahead
- Softness in North America is expected to be offset by upside in international markets.
- Revenue declined 3% sequentially both in North America and in the international markets due to seasonality.
- Digital & Integration pretax operating margin contracted 300 bps year on year and 735 bps sequentially.
- Well Construction pretax operating margin of 20% was essentially flat year on year, but contracted 198 bps sequentially.
- Free cash flow was negative $222 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income