SLB, Announces

SLB Announces Fourth-Quarter and Full-Year 2024 Results, Increases Dividend and Initiates $2.3 billion in Accelerated Share Repurchases

17.01.2025 - 14:05:27

Business Wire India
  • Fourth-quarter revenue of $9.28 billion increased 1% sequentially and 3% year on year
  • Fourth-quarter GAAP EPS of $0.77 decreased 7% sequentially but was flat year on year
  • Fourth-quarter EPS, excluding charges and credits, of $0.92 increased 3% sequentially and 7% year on year
  • Fourth-quarter net income attributable to SLB of $1.10 billion decreased 8% sequentially and 2% year on year
  • Fourth-quarter adjusted EBITDA of $2.38 billion increased 2% sequentially and 5% year on year
  • Fourth-quarter cash flow from operations was $2.39 billion and free cash flow was $1.63 billion
  • Board approved a 3.6% increase in quarterly cash dividend to $0.285 per share
 
  • Full-year revenue of $36.29 billion increased 10% year on year
  • Full-year GAAP EPS of $3.11 increased 7% year on year
  • Full-year EPS, excluding charges and credits, of $3.41 increased 14% year on year
  • Full-year net income attributable to SLB of $4.46 billion increased 6% year on year
  • Full-year adjusted EBITDA of $9.07 billion increased 12% year on year
  • Full-year cash flow from operations was $6.60 billion and free cash flow was $3.99 billion





SLB (NYSE: SLB) today announced results for the fourth-quarter and full-year 2024.

 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250115789214/en/

 
The exterior of the SLB headquarters in Houston, Texas. (Photo: Business Wire)

The exterior of the SLB headquarters in Houston, Texas. (Photo: Business Wire)

Fourth-Quarter Results

 
  (Stated in millions, except per share amounts)  
  Three Months Ended   Change  
  Dec. 31,
2024		   Sept. 30,
2024		   Dec. 31,
2023		   Sequential   Year-on-year  
Revenue

$9,284

  

$9,158

  

$8,990

  

1%

 

3%

  
Income before taxes - GAAP basis

$1,387

  

$1,507

  

$1,433

  

-8%

 

-3%

  
Income before taxes margin - GAAP basis

14.9%

  

16.5%

  

15.9%

  

-151 bps

 

-100 bps

  
Net income attributable to SLB - GAAP basis

$1,095

  

$1,186

  

$1,113

  

-8%

 

-2%

  
 

$0.77

  

$0.83

  

$0.77

  

-7%

 

-

  
             

 

 

 

  
Adjusted EBITDA*

$2,382

  

$2,343

  

$2,277

  

2%

 

5%

  
Adjusted EBITDA margin*

25.7%

  

25.6%

  

25.3%

  

8 bps

 

33 bps

  
Pretax segment operating income*

$1,918

  

$1,902

  

$1,868

  

1%

 

3%

  
Pretax segment operating margin*

20.7%

  

20.8%

  

20.8%

  

-11 bps

 

-12 bps

  
Net income attributable to SLB, excluding charges & credits*

$1,311

  

$1,271

  

$1,242

  

3%

 

6%

  
Diluted EPS, excluding charges & credits*

$0.92

  

$0.89

  

$0.86

  

3%

 

7%

  
             

 

 

 

  
Revenue by Geography            

 

 

 

  
International

$7,483

  

$7,425

  

$7,293

  

1%

 

3%

  
North America

1,752

  

1,687

  

1,641

  

4%

 

7%

  
Other

49

  

47

  

56

  

n/m

 

n/m

  
 

$9,284

  

$9,159

  

$8,990

  

1%

 

3%

  
                     
  (Stated in millions)  
  Three Months Ended   Change  
  Dec. 31,
2024		   Sept. 30,
2024		   Dec. 31,
2023		   Sequential   Year-on-year  
Revenue by Division                    
Digital & Integration

$1,156

  

$1,088

  

$1,049

  

6%

 

10%

  
Reservoir Performance

1,810

  

1,823

  

1,735

  

-1%

 

4%

  
Well Construction

3,267

  

3,312

  

3,426

  

-1%

 

-5%

  
Production Systems

3,197

  

3,103

  

2,944

  

3%

 

9%

  
Other

(146)

  

(167)

  

(164)

  

n/m

 

n/m

  
 

$9,284

  

$9,158

  

$8,990

  

1%

 

3%

  
             

 

 

 

  
Pretax Operating Income by Division            

 

 

 

  
Digital & Integration

$442

  

$386

  

$356

  

14%

 

24%

  
Reservoir Performance

370

  

367

  

371

  

1%

 

-

  
Well Construction

681

  

714

  

770

  

-5%

 

-12%

  
Production Systems

506

  

519

  

442

  

-3%

 

14%

  
Other

(81)

  

(84)

  

(71)

  

n/m

 

n/m

  
 

$1,918

  

$1,902

  

$1,868

  

1%

 

3%

  
             

 

 

 

  
Pretax Operating Margin by Division            

 

 

 

  
Digital & Integration

38.3%

  

35.5%

  

34.0%

  

274 bps

 

430 bps

  
Reservoir Performance

20.5%

  

20.1%

  

21.4%

  

35 bps

 

-90 bps

  
Well Construction

20.8%

  

21.5%

  

22.5%

  

-70 bps

 

-162 bps

  
Production Systems

15.8%

  

16.7%

  

15.0%

  

-93 bps

 

79 bps

  
Other

n/m

  

n/m

  

n/m

  

n/m

 

n/m

  
 

20.7%

  

20.8%

  

20.8%

  

-11 bps

 

-12 bps

  
                     
*These are non-GAAP financial measures. See sections titled "Charges & Credits", "Divisions" and "Supplementary Information" for details.
n/m = not meaningful


Full-Year Results

 
  (Stated in millions, except per share amounts)  
  Twelve Months Ended      
  Dec. 31, 2024   Dec. 31, 2023   Change  
Revenue

$36,289

  

$33,135

  

10%

  
Income before taxes - GAAP basis

$5,672

  

$5,282

  

7%

  
Income before taxes margin - GAAP basis

15.6%

  

15.9%

  

-31 bps

  
Net income attributable to SLB - GAAP basis

$4,461

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