Schlumberger Q4 2024 Earnings Beat Estimates with $0.92 EPS, $9.28B Revenue; Boosts Dividend and Initiates $2.3B Share Repurchase

Jan 17, 2025, 11:59 AM

Schlumberger Ltd. (SLB) reported its fourth-quarter and full-year 2024 results, surpassing analysts' expectations. The company announced an adjusted earnings per share (EPS) of $0.92, beating the consensus estimate of $0.90, and revenue of $9.28 billion, which exceeded the expected $9.18 billion. This performance marks a 7% year-over-year increase in adjusted EPS and a 3% rise in revenue. SLB also reported a 1% sequential increase in revenue and a 3% sequential rise in adjusted EPS. The company's operating income for the quarter was $1.92 billion, up 3% year over year, with an operating margin of 20.7%. In response to these results, SLB increased its dividend and initiated a $2.3 billion accelerated share repurchase program. The stock rose following the earnings beat, attributed to a strong showing in its international business.