SLB LIMITED/NV Quarterly Report for Q3 Ended Sep 30, 2014

Summary

SLB LIMITED/NV (SLB) reported strong financial performance for the third quarter and first nine months of 2014, with revenues and income from continuing operations showing significant year-over-year growth. Revenue for the third quarter increased by 9% to $12.6 billion, and pretax operating income rose by 12% to $2.8 billion compared to the prior year's quarter. This growth was driven by increased activity across its geographic segments, particularly in North America and the Middle East & Asia, and strength in its Drilling and Production groups. The company demonstrated robust operational efficiency and profitability, with pretax operating margins improving globally. Despite some regional challenges like weather disruptions in North America and sanctions impacting operations in Russia, SLB's diversified business model and technological leadership supported its financial results. The company also continued its commitment to returning capital to shareholders through share repurchases and dividends, while actively managing its capital expenditures and debt.

Key Highlights

• 1Revenue for Q3 2014 increased 9% year-over-year to $12.6 billion, and for the nine months ended Sept. 30, 2014, revenue grew 8% to $35.9 billion.
• 2Net income attributable to Schlumberger for Q3 2014 was $1.949 billion, a significant increase from $1.715 billion in Q3 2013.
• 3Diluted EPS for Q3 2014 was $1.49, up from $1.29 in Q3 2013.
• 4Pretax operating income for Q3 2014 increased 12% year-over-year to $2.8 billion.
• 5North America revenue saw a substantial 18% increase year-over-year in Q3 2014, driven by land operations.
• 6The company repurchased $3.58 billion of stock in the first nine months of 2014, accelerating its $10 billion share repurchase program.
• 7SLB maintained a strong cash flow from operations, generating $7.3 billion in the first nine months of 2014.

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