Welcome to our dedicated page for SLB news (Ticker: SLB), a resource for investors and traders seeking the latest updates and insights on SLB stock.
SLB Limited reports developments as a global energy technology and oilfield-services company serving oil and gas, digital, decarbonization, and new energy activities. Recurring news includes quarterly results, international and North America activity, and segment trends across Reservoir Performance, Well Construction, Digital, and Production Systems.
Company updates also cover contract awards and collaborations involving SLB OneSubsea, subsea production systems, multiphase boosting, and deepwater project execution. SLB’s digital news centers on enterprise platforms such as Delfi, cloud-based workflows, AI infrastructure, and data and AI capabilities, while post-acquisition updates describe the contribution of ChampionX businesses to production, recovery, Digital, and Production Systems activity.
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SLB reported first-quarter 2023 revenue of $7.7 billion, marking a 30% increase year-on-year. GAAP EPS rose 81% to $0.65, while net income attributable to SLB reached $934 million, up 83% year-on-year. Adjusted EBITDA was $1.8 billion, a 43% increase compared to last year. Although revenue from the preceding quarter declined 2%, it reflects robust growth in Well Construction and Production Systems.
The company declared a quarterly cash dividend of $0.25 per share. SLB's strong operational cash flow of $330 million indicates healthy liquidity, even with a negative free cash flow of $265 million largely due to capital expenditures. The year shows promising trends with significant growth across all divisions.
HOUSTON--(BUSINESS WIRE)--SLB (NYSE: SLB) will host a conference call on April 21, 2023, to discuss its first-quarter results for the period ending March 31, 2023. The call will commence at 9:30 am US Eastern time, with a press release issued at 7:00 am the same day. Interested participants can dial +1 (844) 721-7241 for North America or +1 (409) 207-6955 internationally, using access code 8858313. A simultaneous webcast will be available on slb.com/irwebcast. A replay will be accessible until May 21, 2023.
SLB has launched EcoShield™, a pioneering geopolymer technology designed to reduce CO2 emissions in well construction by up to 85% compared to traditional cement-based systems. This innovative solution could prevent approximately 5 million metric tons of CO2 emissions annually—equivalent to removing 1.1 million cars from the road. Successfully tested by Pioneer Natural Resources in the Permian Basin, EcoShield™ integrates seamlessly into existing cementing workflows. Unveiled at CERAWeek in Houston, this initiative highlights SLB's commitment to driving sustainability in the oil and gas sector.