SLB's official announcements or press releases

SLB Beats Q4 Earnings with $0.92 EPS and $9.28B Revenue, Announces $2.3B Share Buyback

Jan 17, 2025, 12:25 PM

SLB, formerly known as Schlumberger, reported its fourth-quarter and full-year 2024 financial results, surpassing Wall Street's expectations. The company announced an adjusted earnings per share (EPS) of $0.92, beating the consensus estimate of $0.90 and marking a 7% increase year-over-year. Revenue reached $9.28 billion, which was above the expected $9.18 billion and represented a 3% year-over-year growth. The revenue increase was driven by strong international business, which contributed $7.48 billion. SLB also reported an adjusted EBITDA of $2.38 billion, although it fell short of the $3.27 billion estimate. Well Construction revenue was $3.27 billion, aligning with estimates. The company's operating income rose by 3% year-over-year to $1.92 billion, with an operating margin of 20.7%. GAAP EPS was $0.77, flat year-over-year but down 7% sequentially. In response to these results, SLB announced a 3.6% increase in its quarterly dividend, raising it from $0.275 to $0.285 per share, and initiated a $2.3 billion accelerated share repurchase program.