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Dec 31, 2022
Schlumberger Q4 2022 Earnings Report
SLB reported strong Q4 2022 results, with revenue growth across all divisions and geographical areas.
Key Takeaways
SLB's Q4 2022 revenue increased by 5% sequentially and 27% year-on-year to $7.9 billion. GAAP EPS increased 17% sequentially and 76% year-on-year to $0.74. EPS, excluding charges and credits, increased 13% sequentially and 73% year-on-year to $0.71. Cash flow from operations was $1.6 billion and free cash flow was $0.9 billion.
Revenue grew across all Divisions and geographical areas.
EPS, excluding charges and credits, expanded to $0.71.
Adjusted EBITDA margins grew to 24.4%, exceeding the target exit rate.
Pretax segment operating margins and EPS were the highest since 2015.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
SLB anticipates a strong multi-year upcycle for energy, underpinned by compelling macro and market fundamentals.
Positive Outlook
- Oil and gas demand is forecast to grow.
- Markets remain tightly supplied.
- Energy security is prompting further investments.
- Digital and decarbonization trends are set to accelerate.
- Global upstream spending projections continue to trend positively.
Challenges Ahead
- Potential economic slowdown in certain regions.
- Investments in capex and inventory increased.
- Lower-than-expected year-end collections.
- Free cash flow reducing to $0.9 billion for the fourth quarter.
- Seasonal effects in the Northern Hemisphere.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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