SLB, Announces

SLB Announces Fourth-Quarter and Full-Year 2023 Results and Raises Quarterly Dividend by 10%

19.01.2024 - 14:52:00

Business Wire India
 
  • Fourth-quarter revenue of $8.99 billion increased 8% sequentially and 14% year on year
  • Fourth-quarter GAAP EPS of $0.77 decreased 1% sequentially and increased 4% year on year
  • Fourth-quarter EPS, excluding charges and credits, of $0.86 increased 10% sequentially and 21% year on year
  • Fourth-quarter cash flow from operations was $3.02 billion and free cash flow was $2.28 billion
  • Board approved a 10% increase in quarterly cash dividend to $0.275 per share
 
  • Full-year revenue of $33.14 billion increased 18% year on year
  • Full-year GAAP EPS of $2.91 increased 22% year on year
  • Full-year EPS, excluding charges and credits, of $2.98 increased 37% year on year
  • Full-year net income attributable to SLB of $4.20 billion increased 22% year on year
  • Full-year adjusted EBITDA of $8.11 billion increased 25% year on year
  • Full-year cash flow from operations was $6.64 billion and free cash flow was $4.04 billion


SLB (NYSE: SLB) today announced results for the fourth-quarter and full-year 2023.

 

Fourth-Quarter Results

 
  (Stated in millions, except per share amounts)
  Three Months Ended   Change
  Dec. 31,
2023		   Sept. 30,
2023		   Dec. 31,
2022		  

Sequential

   Year-on-year
Revenue

$8,990

 

$8,310

 

$7,879

 

8%

 

14%
Income before taxes - GAAP basis

$1,433

 

$1,395

 

$1,347

 

3%

 

6%
Income before taxes margin - GAAP basis

15.9%

 

16.8%

 

17.1%

 

-85 bps

 

-116 bps
Net income attributable to SLB - GAAP basis

$1,113

 

$1,123

 

$1,065

 

-1%

 

4%
Diluted EPS - GAAP basis

$0.77

 

$0.78

 

$0.74

 

-1%

 

4%
 

 

 

 

 

 

 

 

 

 
Adjusted EBITDA*

$2,277

 

$2,081

 

$1,921

 

9%

 

19%
Adjusted EBITDA margin*

25.3%

 

25.0%

 

24.4%

 

29 bps

 

95 bps
Pretax segment operating income*

$1,868

 

$1,683

 

$1,557

 

11%

 

20%
Pretax segment operating margin*

20.8%

 

20.3%

 

19.8%

 

52 bps

 

101 bps
Net income attributable to SLB, excluding charges & credits*

$1,242

 

$1,123

 

$1,026

 

11%

 

21%
Diluted EPS, excluding charges & credits*

$0.86

 

$0.78

 

$0.71

 

10%

 

21%
 

 

 

 

 

 

 

 

 

 
Revenue by Geography

 

 

 

 

 

 

 

 

 
International

$7,293

 

$6,614

 

$6,194

 

10%

 

18%
North America

1,641

 

1,643

 

1,633

 

-

 

-
Other

56

 

53

 

52

 

n/m

 

n/m
 

$8,990

 

$8,310

 

$7,879

 

8%

 

14%
*These are non-GAAP financial measures. See sections titled "Divisions" and "Supplementary Information" for details.
n/m = not meaningful
  (Stated in millions)
  Three Months Ended   Change
  Dec. 31,
2023		   Sept. 30,
2023		   Dec. 31,
2022		   Sequential   Year-on-year
Revenue by Division                  
Digital & Integration

$1,049

  

$982

  

$1,012

  

7%

 

4%
Reservoir Performance

1,735

  

1,680

  

1,554

  

3%

 

12%
Well Construction

3,426

  

3,430

  

3,229

  

0%

 

6%
Production Systems

2,944

  

2,367

  

2,215

  

24%

 

33%
Other

(164)

  

(149)

  

(131)

  

n/m

 

n/m
 

$8,990

  

$8,310

  

$7,879

  

8%

 

14%
             

 

 

 
Pretax Operating Income by Division            

 

 

 
Digital & Integration

$356

  

$314

  

$382

  

13%

 

-7%
Reservoir Performance

371

  

344

  

282

  

8%

 

31%
Well Construction

770

  

759

  

679

  

1%

 

13%
Production Systems

442

  

319

  

238

  

38%

 

85%
Other

(71)

  

(53)

  

(24)

  

n/m

 

n/m
 

$1,868

  

$1,683

  

$1,557

  

11%

 

20%
             

 

 

 
Pretax Operating Margin by Division            

 

 

 
Digital & Integration

34.0%

  

32.0%

  

37.7%

  

197 bps

 

-375 bps
Reservoir Performance

21.4%

  

20.5%

  

18.2%

  

88 bps

 

319 bps
Well Construction

22.5%

  

22.1%

  

21.0%

  

35 bps

 

143 bps
Production Systems

15.0%

  

13.5%

  

10.8%

  

153 bps

 

426 bps
Other

n/m

  

n/m

  

n/m

  

n/m

 

n/m
 

20.8%

  

20.3%

  

19.8%

  

52 bps

 

101 bps
                   
n/m = not meaningful                  

Full-Year Results

 
     

(Stated in millions, except per share amounts)
      Twelve Months Ended  

 
      Dec. 31, 2023   Dec. 31, 2022  

Change
Revenue    

$33,135

  

$28,091

  

18%
Income before taxes - GAAP basis    

$5,282

  

$4,271

  

24%
Income before taxes margin - GAAP basis    

15.9%

  

15.2%

  

74 bps
Net income attributable to SLB - GAAP basis    

$4,203

  

@ businesswireindia.com