Summary
Schlumberger (SLB) filed an 8-K on January 18, 2013, to report its fourth-quarter and full-year results for 2012. The report primarily serves to furnish a press release detailing these financial results. Key information presented includes both GAAP and non-GAAP financial measures, such as net debt and earnings per share excluding certain charges and credits, which management believes provide a clearer operational trend analysis. For the full year 2012, Schlumberger reported GAAP income from continuing operations of $5.44 billion, or $4.06 per diluted share, compared to $3.47 per diluted share in 2011. Excluding charges and credits, adjusted income was $5.58 billion, or $4.17 per diluted share, up from $3.61 in 2011. The fourth quarter of 2012 saw GAAP income from continuing operations at $1.36 billion, or $1.02 per diluted share, a slight decrease from the prior quarter's $1.06 and a decrease from $1.04 in the fourth quarter of 2011.
Key Highlights
- 1Schlumberger reported full-year 2012 GAAP income from continuing operations of $5.44 billion ($4.06 diluted EPS), an increase from $3.47 EPS in 2011.
- 2Full-year 2012 adjusted income (excluding charges/credits) was $5.58 billion ($4.17 diluted EPS), showing growth from $3.61 EPS in 2011.
- 3Fourth-quarter 2012 GAAP income from continuing operations was $1.36 billion ($1.02 diluted EPS).
- 4The filing includes definitions and explanations of non-GAAP financial measures used by management, such as Net Debt and adjusted income/EPS, to provide deeper operational insights.
- 5Management believes these non-GAAP measures help in evaluating performance and identifying operating trends without the impact of specific charges and credits.
- 6The company provided comparative figures for Q4 2012 versus Q4 2011 and the preceding quarter, indicating a slight sequential and year-over-year decline in Q4 GAAP EPS.
- 7The 8-K filing incorporates by reference the official press release and supplemental information concerning the Q4 and Full Year 2012 results.