Published on 19 Apr 2024 on GuruFocus.com via Yahoo Finance
Schlumberger Ltd (SLB) Aligns with EPS Projections, Surpasses Revenue Estimates in Q1 2024
Revenue: Reported at $8.707 billion for Q1 2024, up 13% year-over-year, surpassing the estimated $8.693 billion.Net Income: GAAP basis net income reached $1.068 billion, below the estimated $1.079 billion, reflecting a 14% increase from the previous year.Earnings Per Share (EPS): GAAP diluted EPS was $0.74, falling short of the estimated $0.75, marking a 14% increase year-over-year.Adjusted EBITDA: Achieved $2.057 billion, up 15% from the previous year, indicating continued operational efficiency and profitability.Geographical Performance: International revenue grew by 18% to $7.056 billion, offsetting a 6% decline in North America to $1.598 billion.Divisional Growth: Production Systems division saw a notable increase of 28% in revenue, driven by the acquisition of Aker subsea business and strong international sales.Shareholder Returns: Targeting to return $7 billion to shareholders over 2024-2025, with a robust plan for buybacks and dividends.
Warning! GuruFocus has detected 2 Warning Sign with SLB.