Schlumberger (NYSE:SLB), the oilfield services titan, has unveiled its financial outcomes for the first quarter of 2024, marking a substantial 13% surge in revenue from the previous year, totaling $8.71 billion.
The company experienced a noteworthy ascent in GAAP earnings per share (EPS), climbing 14% to reach $0.74.
When isolating the figures from specific charges and credits, the EPS growth is even more impressive, posting a 19% increase to $0.75.
Net income attributed to the company reflected a solid 14% year-over-year growth, settling at $1.07 billion.
Concurrently, Schlumberger witnessed its adjusted EBITDA ramp up by 15%, reaching $2.06 billion.
This financial success is largely ascribed to the vigorous international market performance, which has effectively offset a 6% downturn in the North American sector.
With this strong opening to the year, Schlumberger plans to reward its shareholders by earmarking a substantial $7 billion for returns over the 2024–2025 period.