- 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 |
|
|
|
|
|
|
|
|
|
|