Summary
SLB LIMITED/NV (SLB) reported strong financial performance for the fiscal year ended December 31, 2024, demonstrating resilience and strategic growth. The company achieved a 10% year-over-year revenue increase to $36.3 billion and a 12% rise in pretax segment operating income, driven by robust international performance, particularly in the Middle East & Asia and Europe & Africa regions. Digital & Integration revenue saw a significant 10% uplift, propelled by a 20% surge in digital services, highlighting the success of its digital transformation initiatives, including the Lumi™ data and AI platform and the Delfi™ offering. The company generated $6.6 billion in cash flow from operations and $4.0 billion in free cash flow, allowing for substantial returns to shareholders, including a 3.6% increase in the quarterly dividend and a $2.3 billion accelerated share repurchase program. SLB is strategically positioned to capitalize on future energy demand growth, supported by its core businesses, expanding digital capabilities, and growing investments in New Energy sectors like decarbonization and critical minerals. The pending acquisition of ChampionX is expected to further enhance its production and recovery capabilities, adding resilience to its portfolio.
Financial Highlights
48 data points| Revenue | $36.29B |
| R&D Expenses | $749.00M |
| Interest Expense | $512.00M |
| Net Income | $4.46B |
| EPS (Basic) | $3.14 |
| EPS (Diluted) | $3.11 |
| Shares Outstanding (Basic) | 1.42B |
| Shares Outstanding (Diluted) | 1.44B |
Key Highlights
- 1Full-year 2024 revenue increased 10% to $36.3 billion, with international revenue growing 12%.
- 2Digital & Integration revenue increased 10%, with digital services revenue up 20%, underscoring the success of digital transformation.
- 3Generated $6.6 billion in cash flow from operations and $4.0 billion in free cash flow in 2024.
- 4Returned $3.3 billion to shareholders in 2024 through dividends and share repurchases, with plans to increase this to at least $4 billion in 2025.
- 5Announced a 3.6% increase in quarterly dividend in January 2025 and entered into accelerated share repurchase transactions for $2.3 billion.
- 6The pending acquisition of ChampionX is anticipated to close in the first quarter of 2025, aiming to strengthen production and recovery capabilities.
- 7SLB is actively investing in New Energy initiatives, including Carbon Capture and Storage (CCS), low-carbon hydrogen, geothermal, and critical minerals extraction.