SLB (NYSE: SLB) shares strengthen Friday, following results for the fourth quarter.
Fourth-quarter revenue of $7.9 billion increased 5% sequentially and 27% year on year. Q$ GAAP EPS of $0.74 increased 17% sequentially and 76% year on year
Fourth-quarter EPS, excluding charges and credits, of $0.71 increased 13% sequentially and 73% year on year.
Q4 cash flow from operations was $1.6 billion and free cash flow was $0.9 billion
In other news, the company Board of Directors approved a 43% increase in quarterly cash dividend to $0.25 per share
SLB CEO Olivier Le Peuch commented, “We delivered strong fourth-quarter results and concluded a remarkable year for SLB with great success. Revenue grew across all Divisions and geographical areas, with robust year-end sales in digital and particularly strong service activity offshore and in the Middle East where we witnessed a significant inflection as capacity expansion projects mobilized.”
He continued, “Overall, 2022 was transformative for SLB as we set new safety, operational, and performance benchmarks for our customers and strengthened our market position both internationally and in North America. We launched our bold new brand identity, reinforcing our leadership position in energy technology, digital, and sustainability, and demonstrated our ability to deliver superior earnings in this early phase of a structural upcycle in energy.
SLB shares grabbed 56 cents, or nearly 1%, to $57.94.
