Schlumberger Q3 2024 Earnings: A Comprehensive Financial Analysis

Friday, 18 October 2024, 13:32

Schlumberger Q3 earnings have shown a significant 10% increase in revenue year-over-year. As investors analyze SLB's financial news, the insights reveal a net income growth and robust cash flow. With adjusted earnings per share also up, the results reflect strong performance for Schlumberger.
Alphastreet
Schlumberger Q3 2024 Earnings: A Comprehensive Financial Analysis

Financial Highlights of Schlumberger Q3 2024

Energy infrastructure company Schlumberger Limited (NYSE: SLB) recently reported its third-quarter earnings for 2024, showcasing remarkable growth metrics. During this period, total revenues surged by 10% compared to the previous year, amounting to $9.16 billion. The net income attributable to Schlumberger increased by 6%, reaching $1.19 billion. On a per-share basis, earnings rose to $0.83, which also reflects an 8% growth quarter-over-quarter.

Adjusted Earnings and Cash Flow Performance

Further reinforcing SLB’s financial standing, the adjusted earnings, excluding any charges, stood at $0.89 per share, a commendable 14% boost from last year. The adjusted EBITDA witnessed a 13% annual increase, totaling $2.34 billion. Notably, cash flow from operations was reported at $2.45 billion, with free cash flow hitting $1.81 billion.

Dividend Announcement and Market Outlook

In a move to boost shareholder confidence, the board declared a quarterly cash dividend of $0.275 per share. As the market closely examines these results, the question remains: is SLB a buy today? Investors should consider the positive forecast and strong earnings dynamics surrounding Schlumberger.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


Related posts


Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe