SLB announced its fourth-quarter 2024 results, with revenue reaching $9.284 billion, a 1% sequential increase and 3% year-on-year growth. Adjusted earnings per share were $0.92, up 3% sequentially and 7% year-on-year, reflecting consistent performance despite moderating upstream investment growth.
For the full year 2024, SLB reported revenue of $36.289 billion, a 10% increase year-on-year, and adjusted EBITDA grew 12% to $9.070 billion, achieving a 25.0% margin. The company generated robust free cash flow of $4.0 billion and returned $3.3 billion to shareholders during the year.
Digital & Integration revenue increased 10% year-on-year, with digital revenue growing 20% to $2.44 billion for the full year, exceeding high-teens growth targets. Production Systems led Core division growth, increasing 24% year-on-year, with 9% organic growth driven by surface systems, completions, and artificial lift.
SLB's Board of Directors approved a 3.6% increase in the quarterly cash dividend to $0.285 per share, payable on April 3, 2025. Additionally, the company initiated $2.3 billion in accelerated share repurchase (ASR) transactions on December 20, 2024, with an initial delivery of approximately 80% of shares received by January 13, 2025, at an average price of $40.51.
For 2025, SLB expects global upstream investment to be steady, with digital revenue maintaining high-teens growth and Core revenue remaining flat year-on-year, excluding the ChampionX acquisition. The company committed to returning a minimum of $4 billion to shareholders in 2025, demonstrating confidence in its ability to generate strong cash flows and expand margins.
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