Summary
SLB LIMITED/NV (SLB) reported robust financial performance for the first quarter of 2012, demonstrating significant year-over-year growth. Revenue increased by 22% to $10.61 billion compared to the first quarter of 2011, driven by a 22% surge in Oilfield Services revenue to $9.92 billion. This growth was primarily fueled by increased activity in North America, particularly in Well Services technologies and M-I SWACO operations, as well as improved exploration activities across various geographic segments. Net income attributable to Schlumberger reached $1.30 billion, a substantial increase from $944 million in the prior year period. Earnings per share also saw a notable rise, with basic EPS at $0.98 and diluted EPS at $0.97, up from $0.69 in Q1 2011. The company's strategic focus on expanding exploration and production services appears to be paying off, with strong operational execution across its segments. Despite some sequential quarter-over-quarter declines attributed to typical year-end sales cycles, the year-over-year comparison highlights SLB's strong market position and ability to capitalize on global energy demand.
Financial Highlights
52 data points| Revenue | $9.92B |
| Cost of Revenue | $7.81B |
| Gross Profit | $2.11B |
| R&D Expenses | $275.00M |
| Operating Income | $1.28B |
| Interest Expense | $80.00M |
| Net Income | $1.30B |
| EPS (Basic) | $0.98 |
| EPS (Diluted) | $0.97 |
| Shares Outstanding (Basic) | 1.33B |
| Shares Outstanding (Diluted) | 1.34B |
Key Highlights
- 1Revenue surged 22% year-over-year to $10.61 billion in Q1 2012.
- 2Net income attributable to Schlumberger grew significantly to $1.30 billion, up from $944 million in Q1 2011.
- 3Diluted EPS increased to $0.97 from $0.69 in the prior year's comparable quarter.
- 4Oilfield Services revenue saw a substantial 22% increase year-over-year, indicating strong demand for core services.
- 5The company continues to benefit from a strategic geographical diversification, with strong performance across North America, Latin America, and other key regions.
- 6Capital expenditures increased to $961 million in Q1 2012, signaling investment in future growth and operational capacity.
- 7The company announced an agreement to sell its Wilson distribution business for approximately $0.8 billion, a subsequent event impacting potential future portfolio composition.