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Main » 2023 » October » 23 » SLB Announces Third-Quarter 2023 Results
9:22 AM
SLB Announces Third-Quarter 2023 Results

 

  • Revenue of $8.31 billion increased 3% sequentially and 11% year on year
  • GAAP EPS of $0.78 increased 8% sequentially and 24% year on year
  • Net income attributable to SLB of $1.12 billion increased 9% sequentially and 24% year on year
  • Adjusted EBITDA of $2.08 billion increased 6% sequentially and 18% year on year
  • Cash flow from operations was $1.68 billion and free cash flow was $1.04 billion
  • Board approved quarterly cash dividend of $0.25 per share

(BUSINESS WIRE)--SLB (NYSE: SLB) today announced results for the third-quarter 2023.

Third-Quarter Results

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

Change

 

Sept. 30,

2023

 

Jun. 30,

2023

 

Sept. 30,

2022

 

Sequential

 

Year-on-year

Revenue

$8,310

 

$8,099

 

$7,477

 

3%

 

11%

Income before taxes - GAAP basis

$1,395

 

$1,293

 

$1,134

 

8%

 

23%

Income before taxes margin - GAAP basis

16.8%

 

16.0%

 

15.2%

 

82 bps

 

161 bps

Net income attributable to SLB - GAAP basis

$1,123

 

$1,033

 

$907

 

9%

 

24%

Diluted EPS - GAAP basis

$0.78

 

$0.72

 

$0.63

 

8%

 

24%

             

 

 

 

Adjusted EBITDA*

$2,081

 

$1,962

 

$1,756

 

6%

 

18%

Adjusted EBITDA margin*

25.0%

 

24.2%

 

23.5%

 

82 bps

 

155 bps

Pretax segment operating income*

$1,683

 

$1,581

 

$1,400

 

6%

 

20%

Pretax segment operating margin*

20.3%

 

19.5%

 

18.7%

 

73 bps

 

153 bps

Net income attributable to SLB, excluding charges & credits*

$1,123

 

$1,033

 

$907

 

9%

 

24%

Diluted EPS, excluding charges & credits*

$0.78

 

$0.72

 

$0.63

 

8%

 

24%

             

 

 

 

Revenue by Geography            

 

 

 

International

$6,614

 

$6,297

 

$5,881

 

5%

 

12%

North America

1,643

 

1,746

 

1,543

 

-6%

 

6%

Other

53

 

56

 

53

 

n/m

 

n/m

 

$8,310

 

$8,099

 

$7,477

 

3%

 

11%

                   
*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

 

Sept. 30,

2023

 

Jun. 30,

2023

 

Sept. 30,

2022

 

Sequential

 

Year-on-year

Revenue by Division            

 

 

 

Digital & Integration

$982

 

$947

 

$900

 

4%

 

9%

Reservoir Performance

1,680

 

1,643

 

1,456

 

2%

 

15%

Well Construction

3,430

 

3,362

 

3,084

 

2%

 

11%

Production Systems

2,367

 

2,313

 

2,150

 

2%

 

10%

Other

(149)

 

(166)

 

(113)

 

n/m

 

n/m

 

$8,310

 

$8,099

 

$7,477

 

3%

 

11%

             

 

 

 

Pretax Operating Income by Division            

 

 

 

Digital & Integration

$314

 

$322

 

$305

 

-2%

 

3%

Reservoir Performance

344

 

306

 

244

 

13%

 

41%

Well Construction

759

 

731

 

664

 

4%

 

14%

Production Systems

319

 

278

 

224

 

15%

 

42%

Other

(53)

 

(56)

 

(37)

 

n/m

 

n/m

 

$1,683

 

$1,581

 

$1,400

 

6%

 

20%

             

 

 

 

Pretax Operating Margin by Division            

 

 

 

Digital & Integration

32.0%

 

34.0%

 

33.9%

 

-200 bps

 

-186 bps

Reservoir Performance

20.5%

 

18.6%

 

16.7%

 

190 bps

 

376 bps

Well Construction

22.1%

 

21.7%

 

21.5%

 

38 bps

 

58 bps

Production Systems

13.5%

 

12.0%

 

10.4%

 

147 bps

 

305 bps

Other

n/m

 

n/m

 

n/m

 

n/m

 

n/m

 

20.3%

 

19.5%

 

18.7%

 

73 bps

 

153 bps

             

 

 

 

n/m = not meaningful                  

 

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