- Revenue of $8.10 billion increased 5% sequentially and 20% year on year
- GAAP EPS of $0.72 increased 11% sequentially and 7% year on year
- EPS, excluding charges and credits, of $0.72 increased 14% sequentially and 44% year on year
- Net income attributable to SLB of $1.03 billion increased 11% sequentially and 8% year on year
- Adjusted EBITDA of $1.96 billion increased 10% sequentially and 28% year on year
- Cash flow from operations was $1.61 billion and free cash flow was $986 million
- Board approved quarterly cash dividend of $0.25 per share
PARIS–(BUSINESS WIRE)–SLB (NYSE: SLB) today announced results for the second-quarter 2023.
Second-Quarter Results
(Stated in millions, except per share amounts) | |||||||||
Three Months Ended | Change | ||||||||
Jun. 30, 2023 |
Mar. 31, 2023 |
Jun. 30, 2022 |
Sequential |
Year-on-year | |||||
Revenue |
$8,099 |
$7,736 |
$6,773 |
5% |
20% |
||||
Income before taxes – GAAP basis |
$1,293 |
$1,161 |
$1,152 |
11% |
12% |
||||
Income before taxes margin – GAAP basis |
16.0% |
15.0% |
17.0% |
96 bps |
-105 bps |
||||
Net income attributable to SLB – GAAP basis |
$1,033 |
$934 |
$959 |
11% |
8% |
||||
Diluted EPS – GAAP basis |
$0.72 |
$0.65 |
$0.67 |
11% |
7% |
||||
 |
 |
||||||||
Adjusted EBITDA* |
$1,962 |
$1,788 |
$1,530 |
10% |
28% |
||||
Adjusted EBITDA margin* |
24.2% |
23.1% |
22.6% |
111 bps |
163 bps |
||||
Pretax segment operating income* |
$1,581 |
$1,391 |
$1,159 |
14% |
36% |
||||
Pretax segment operating margin* |
19.5% |
18.0% |
17.1% |
154 bps |
240 bps |
||||
Net income attributable to SLB, excluding charges & credits* |
$1,033 |
$906 |
$715 |
14% |
44% |
||||
Diluted EPS, excluding charges & credits* |
$0.72 |
$0.63 |
$0.50 |
14% |
44% |
||||
 |
 |
||||||||
Revenue by Geography |
 |
 |
|||||||
International |
$6,297 |
$5,985 |
$5,188 |
5% |
21% |
||||
North America |
1,746 |
1,698 |
1,537 |
3% |
14% |
||||
Other |
56 |
53 |
48 |
n/m |
n/m |
||||
$8,099 |
$7,736 |
$6,773 |
5% |
20% |
|||||
 |
 |
||||||||
*These are non-GAAP financial measures. See sections titled “Charges & Credits”, “Divisions”, and “Supplementary Information” for details. |
|||||||||
n/m = not meaningful |
 |
 |
|||||||
 |
 |
||||||||
 |
(Stated in millions) |
||||||||
Three Months Ended |
Change |
||||||||
Jun. 30, 2023 |
Mar. 31, 2023 |
Jun. 30, 2022 |
Sequential |
Year-on-year |
|||||
Revenue by Division |
 |
 |
|||||||
Digital & Integration |
$947 |
$894 |
$955 |
6% |
-1% |
||||
Reservoir Performance |
1,643 |
1,503 |
1,333 |
9% |
23% |
||||
Well Construction |
3,362 |
3,261 |
2,686 |
3% |
25% |
||||
Production Systems |
2,313 |
2,207 |
1,893 |
5% |
22% |
||||
Other |
(166) |
(129) |
(94) |
n/m |
n/m |
||||
$8,099 |
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