Strong Performance in 2024

SLB, formerly known as Schlumberger NV, announced a 3% increase in its fourth-quarter revenue for fiscal year 2024, reaching $9.3 billion compared to the same period in 2023. Despite a 2% decrease in net income to $1.1 billion, the company's diluted earnings per share remained steady at $0.77.

Annual Growth Highlights

For the entire year of 2024, SLB experienced a significant 10% rise in revenue to $36.3 billion. Net income also saw a 6% increase, totaling $4.5 billion, while diluted earnings per share grew by 7% to $3.11.

CEO's Perspective

"2024 marked a robust year for SLB, as we adeptly managed shifting market dynamics to achieve revenue and EBITDA growth, margin expansion, and strong free cash flow. Our annual outcomes were distinguished by a 12% surge in international revenue... The fourth quarter witnessed a modest revenue uptick, propelled by digital sales in North America and heightened activity in the Middle East, Europe, and North Africa," stated CEO Olivier Le Peuch.

Market Response

Following the earnings report, SLB's stock appreciated by 2.34% in premarket trading, reflecting investor confidence in the company's performance and future prospects.