Global services firm SLB sees Q4, full year gains
Global oilfield services firm SLB (formerly Schlumberger) had Q4 2022 net income of $1.07bn, a 77% increase from the comparable 2021 period, and full-year net income of $3.4bn, a gain of 83% year-on-year, it said January 20.
Adjusted EBITDA in Q4 2022 rose 9%, to $1.92bn from $1.4bn, while full-year EBITDA was 31% higher year-on-year, at $6.5bn.
“We delivered strong fourth-quarter results and concluded a remarkable year for SLB with great success,” CEO Olivier Le Peuch said. “Revenue grew across all divisions and geographical areas, with robust year-end sales in digital and particularly strong service activity offshore and in the Middle East where we witnessed a significant inflection as capacity expansion projects mobilised.”
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On January 19, SLB announced a 43% increase to its quarterly cash dividend, to $0.25/share from $0.175/share, beginning with the dividend payable on April 6, 2023 to shareholders of record on February 8, 2023.
Geographically, y-y revenue growth was strongest in Latin America, at 34%, on higher drilling activity and increased pricing. Full-year revenue from Europe/CIS/Africa was up 30% on strong well construction activity, while revenue from North American activity was 27% higher, led by well construction and production systems.