- 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
NEW YORK–(BUSINESS WIRE)–Regulatory News:
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 |
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