SLB reported its fourth-quarter results for 2024, showcasing revenue growth and exceeding market expectations.
Q4 2024 Financial Results
SLB reported revenue of $9.28 billion in the fourth quarter of 2024, marking a 1% increase from the previous quarter and a 3% rise compared to the same period in 2023. The GAAP earnings per share stood at $0.77, a 7% decrease from the prior quarter, while remaining consistent year-on-year. The adjusted EPS was $0.92, reflecting a 3% sequential increase and a 7% annual growth.
Comparison with Market Expectations
SLB exceeded market expectations in several key areas. Analysts had anticipated an EPS of $0.8996, but SLB delivered an adjusted EPS of $0.92. The revenue forecast was set at $9.2 billion, and SLB outperformed this forecast, demonstrating resilience in challenging conditions. The revenue growth was primarily driven by the digital and production systems segments.
Guidance and Outlook for 2025
For 2025, SLB projects capital investments of $2.3 billion, excluding the impact of the anticipated ChampionX acquisition. The company has announced plans to increase total shareholder returns to at least $4 billion. SLB anticipates continued growth in oil and gas investments, driven by global economic growth and energy demand.
SLB shows strong growth through strategic initiatives and technological advancements, laying the groundwork for further profitability.
