Welcome to our dedicated page for Schlumberger news (Ticker: SLB), a resource for investors and traders seeking the latest updates and insights on Schlumberger stock.
Schlumberger Limited (SLB) is a global leader in providing technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. Operating in more than 85 countries and employing a diverse workforce of over 140 nationalities, Schlumberger offers a comprehensive range of products and services. These extend from exploration through to production, including integrated pore-to-pipeline solutions that enhance hydrocarbon recovery and optimize reservoir performance.
SLB is the largest oilfield service company in the world, renowned for its expertise in various disciplines such as reservoir performance, well construction, and production enhancement. In recent years, SLB has also ventured into digital solutions, maintaining its status as a leading innovator in the industry. This continuous innovation has helped the company secure a dominant share in numerous end markets.
Among its recent achievements, Schlumberger has made significant advancements in digital technology and sustainability efforts. Their cutting-edge digital platforms aim to transform the way oil and gas operations are conducted, enhancing efficiency and reducing environmental impact.
Financially, SLB has demonstrated resilience and growth, marked by robust quarterly earnings and strategic partnerships. The company remains committed to driving progress in the oil and gas industry, making it an attractive option for investors looking for stability and innovation.
Stay updated on the latest developments, financial performance, and projects of Schlumberger Limited by visiting their official website or following the latest news releases.
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.
SLB (NYSE: SLB) has finalized its acquisition of Gyrodata Incorporated, a leader in gyroscopic wellbore positioning technology. This strategic move aims to enhance SLB's Well Construction business by integrating advanced surveying technologies, ultimately improving wellbore quality and reducing drilling risks.
The merger is expected to elevate operational performance, streamline decision-making, and boost drilling efficiency. With this acquisition, SLB reaffirms its commitment to innovative solutions and driving energy sector advancements.
SLB reported strong fourth-quarter results with revenue of $7.9 billion, marking a 5% sequential increase and 27% year-over-year growth. GAAP EPS for the quarter was $0.74, a 17% sequential rise and 76% year-over-year increase. Full-year revenue reached $28.1 billion, representing a 23% year-on-year growth, with annual GAAP EPS of $2.39, up 81% year-over-year. The board approved a 43% increase in the quarterly cash dividend to $0.25 per share. Strong cash flow from operations was $3.7 billion, and free cash flow was $0.9 billion in Q4.
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