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Sep 30, 2024
Schlumberger Q3 2024 Earnings Report
SLB reported steady sequential revenue and increased year-on-year, with growth in GAAP EPS and adjusted EBITDA.
Key Takeaways
SLB announced strong third-quarter results with revenue of $9.16 billion, a 10% increase year-on-year. GAAP EPS was $0.83, up 6% year-on-year, and adjusted EBITDA was $2.34 billion, a 13% increase year-on-year. The company highlighted its focus on cost optimization and digital solutions contributing to the positive results.
Revenue increased 10% year-on-year to $9.16 billion.
GAAP EPS increased 6% year-on-year to $0.83.
Adjusted EBITDA increased 13% year-on-year to $2.34 billion.
Free cash flow was $1.81 billion.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
SLB anticipates strong cash flows and a full-year adjusted EBITDA margin at or above 25%, supported by international leadership, robust digital sales, and ongoing cost optimization initiatives.
Positive Outlook
- Long-cycle projects in international, deepwater, and gas markets.
- Digital leadership and growing presence in emerging low-carbon markets.
- Sustained level of upstream investment expected in the years to come.
- Strong cash flows.
- Full-year adjusted EBITDA margin at or above 25%.
Challenges Ahead
- Some customers have adopted a more cautious approach to their near-term capital expenditures.
- Discretionary spending amid lower commodity prices.
- Recent geopolitical events.
- Potential supply disruptions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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