Schlumberger (SLB) Surges In Q4, Sets New 2023 Records - Yahoo Finance

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In a strong financial performance, Schlumberger Ltd (NYSE:SLB), the world’s largest oilfield service firm, reported robust results for both the fourth quarter and full year of 2023. Despite market challenges, the company demonstrated resilience and growth, with fourth-quarter revenue increasing by 14% year-on-year to $8.99 billion and full-year revenue growing by 18% to $33.14 billion. Net income also saw an increase, with fourth-quarter GAAP net income rising by 4% to $1.11 billion and full-year GAAP net income up by 22% to $4.20 billion. Additionally, diluted EPS for the fourth quarter increased by 4% year-on-year to $0.77, and full-year diluted EPS was up by 22% to $2.91. Adjusted EBITDA for the fourth quarter reached $2.28 billion, a 19% increase year-on-year, and $8.11 billion for the full year, up by 25%. The positive financial performance has led to a 10% increase in the company’s quarterly dividend, reflecting confidence in its financial strength and cash flow. Schlumberger’s international revenue also grew by 18% in the fourth quarter and 20% for the full year, outpacing North America. CEO Olivier Le Peuch commented, “We have concluded a remarkable year marked by widespread revenue growth, margin expansion, and exceptional free cash flow… These results showcase our continued ability to deliver superior earnings, generate impressive cash flows, and maintain a strong balance sheet.” Schlumberger’s performance reflects its strategic positioning and operational excellence, driving growth and demonstrating its commitment to shareholder returns.

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*Why did we choose this article for headlines4happiness, what makes this news a good news?*

Reasons why this article is positive and generates good thoughts:

1. Strong financial performance: The article highlights that Schlumberger Ltd reported robust results for both the fourth quarter and full year of 2023. This indicates that the company is doing well financially, which is always a positive sign.

2. Resilience and growth: Despite market challenges, Schlumberger demonstrated resilience and growth. This shows that the company is adaptable and able to overcome obstacles in its industry.

3. Revenue and net income growth: The article mentions that both revenue and net income saw significant increases. This indicates that Schlumberger is experiencing success and profitability.

4. Increased dividend: The positive financial performance has led to a 10% increase in the company’s quarterly dividend. This reflects confidence in its financial strength and cash flow, which is good news for shareholders.

5. International revenue growth: Schlumberger’s international revenue grew by 18% in the fourth quarter and 20% for the full year, outpacing North America. This shows that the company’s operations are expanding globally, indicating opportunities for further growth.

6. CEO’s positive comments: The CEO of Schlumberger, Olivier Le Peuch, expressed pride in the company’s performance and highlighted its ability to deliver superior earnings, generate impressive cash flows, and maintain a strong balance sheet. This showcases a positive company culture and leadership.

Overall, this article generates good thoughts because it highlights Schlumberger’s resilience, growth, and financial success. It demonstrates the company’s commitment to shareholder returns and its ability to adapt and thrive in challenging market conditions.