- 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
HOUSTON–(BUSINESS WIRE)–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% |
 |
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