Primary Vision
  • HOME
  • ABOUT US
    • ABOUT US
    • PRIMARY VISION AI INNOVATIONS
  • RESEARCH
    • INSIGHTS & ARTICLES
    • FREE ARTICLES
  • EVENTS
  • PRESS
  • SUPPORT
  • FAQ
  • LATEST NEWS
  • LOGIN
  • SIGN UP!
    • FRAC SPREAD COUNT SIGN-UP!
    • ENTERPRISE SUBSCRIPTION PLAN SIGN UP!
  • HOME
  • ABOUT US
    • ABOUT US
    • PRIMARY VISION AI INNOVATIONS
  • RESEARCH
    • INSIGHTS & ARTICLES
    • FREE ARTICLES
  • EVENTS
  • PRESS
  • SUPPORT
  • FAQ
  • LATEST NEWS
  • LOGIN
  • SIGN UP!
    • FRAC SPREAD COUNT SIGN-UP!
    • ENTERPRISE SUBSCRIPTION PLAN SIGN UP!
No Result
View All Result
Primary Vision
Home Market Trends

SLB: Q4 TAKE THREE

Avik Chowdhury by Avik Chowdhury
January 17, 2025
in Market Trends
0
SLB: Q4 TAKE THREE

Key Awards And Outlook: SLB won significant contracts in Q4, including ultradeep contracts in the UK North Sea, Trinidad and Tobago, and the Gulf of Mexico. The contracts include digital directional drilling services and hardware, logging while drilling (LWD), surface logging, cementing, etc. Its major clients include BP, Petrobras, and TotalEnergies in Brazil and Europe. The company’s launch of the Lumi data and AI platform, Performance Live centers, the achievement of fully autonomous drilling operations, Neuro autonomous geo-steering, and Stream high-speed intelligent telemetry have strengthened its core business.

SLB’s management expects the acquisition of ChampionX to strengthen its production and recovery capabilities. While the upstream investment growth can remain subdued in the short term, SLB’s management believes focusing on energy security and rising energy demand from AI and data centers will help it deliver sustained outperformance in the digital field.

Digital & Integration Sales Up in Q4: SLB’s Digital & Integration segment witnessed the sharpest quarter-over-quarter revenue and operating income growth in Q4 (6% up), followed by Production Systems. On the other hand, the Well Construction segment saw the steepest revenue fall in Q4 (5% down). Overall, the company’s adjusted EBITDA improved by 1.7% in Q4 compared to Q3. Geographically, the company’s international businesses registered minimal growth compared to a decent increase in revenue in North America in Q4. Increased contributions from higher digital sales in North America and higher activity in the Middle East, Europe, and North Africa led to a revenue rise in Q4.

Also, strong backlog conversion following upstream operators’ efforts to maximize recovery from existing assets aided SLB’s Q4 performance. Readers may note that the Aker subsea business acquisition and the Onesubsea joint venture formation generated $1.93 billion in revenue in FY2024.

Cash Flows Stabilized As Buyback Accelerated: SLB’s cash flow from operations remained nearly unchanged in FY2024 compared to a year ago despite higher revenues. Its FCF also changed little over this period. Due to the higher shareholders’ equity, debt-to-equity decreased (0.54x) compared to 0.56x in FY2023. Led by steady cash flows, it increased quarterly dividends by 3.6% while it accelerated the share repurchase program. As a result, it plans to increase total return from shareholders from $3.3 billion in FY2024 to $4 billion in 2025.

Thanks for reading the SLB take three, which is designed to give you three critical takeaways from SLB’s earnings report.  Soon, we will present a second update on SLB earnings highlighting its current strategy, news, and notes we extracted from our deeper dive.

Premium/Monthly
————————————————————————————————————-


Previous Post

Monday Macro View: Permian Power: Why 54% of U.S. Frac Activity is Concentrated in a Single Basin! – ENTERPRISE SUBSCRIBERS

Next Post

Monday Macro View: What is the Frac Spread Count telling us about jobs in oil and gas industry?

Related Posts

Monday Macro View: Top 5 Reasons Crude Prices Are Ascending – and the recent Middle East tension is only one of them!
Market Trends

Monday Macro View: Top 5 Reasons Crude Prices Are Ascending – and the recent Middle East tension is only one of them!

June 16, 2025
Nabors Industries’ Perspective in Q1: KEY Takeaways
Market Trends

Nabors Industries’ Perspective in Q1: KEY Takeaways

June 16, 2025
ProPetro’s Perspective in Q1: KEY Takeaways
Market Trends

ProPetro’s Perspective in Q1: KEY Takeaways

June 13, 2025
Market Sentiment Tracker: What If This Is as Good as It Gets?
Market Trends

Market Sentiment Tracker: What If This Is as Good as It Gets?

June 11, 2025
Monday Macro View: As OPEC+ Raises Output, Is U.S. Shale Prepared to Follow—or Fade?
Market Trends

Monday Macro View: As OPEC+ Raises Output, Is U.S. Shale Prepared to Follow—or Fade?

June 9, 2025
NOV’s Perspective in Q1: KEY Takeaways
Market Trends

NOV’s Perspective in Q1: KEY Takeaways

June 9, 2025
Next Post
Monday Macro View: What is the Frac Spread Count telling us about jobs in oil and gas industry?

Monday Macro View: What is the Frac Spread Count telling us about jobs in oil and gas industry?

Please login to join discussion

Recent News

Monday Macro View: Top 5 Reasons Crude Prices Are Ascending – and the recent Middle East tension is only one of them!

Monday Macro View: Top 5 Reasons Crude Prices Are Ascending – and the recent Middle East tension is only one of them!

June 16, 2025
Nabors Industries’ Perspective in Q1: KEY Takeaways

Nabors Industries’ Perspective in Q1: KEY Takeaways

June 16, 2025
ProPetro’s Perspective in Q1: KEY Takeaways

ProPetro’s Perspective in Q1: KEY Takeaways

June 13, 2025
Market Sentiment Tracker: What If This Is as Good as It Gets?

Market Sentiment Tracker: What If This Is as Good as It Gets?

June 11, 2025
Monday Macro View: As OPEC+ Raises Output, Is U.S. Shale Prepared to Follow—or Fade?

Monday Macro View: As OPEC+ Raises Output, Is U.S. Shale Prepared to Follow—or Fade?

June 9, 2025
Primary Vision

Established in 2011, we are renowned for our expert frac data and analytics, providing a rich array of unique indicators and industry commentary.

CONTACT

+1-713-554-4977
info@primaryvision.co

SOCIAL NETWORKS

POLICIES

Privacy Policy
Terms of Use

PARTNERS

Amazon Web Services

TRUSTED SITES

Logo

Logo

RECENT NEWS

Monday Macro View: Top 5 Reasons Crude Prices Are Ascending – and the recent Middle East tension is only one of them!

Monday Macro View: Top 5 Reasons Crude Prices Are Ascending – and the recent Middle East tension is only one of them!

June 16, 2025
Nabors Industries’ Perspective in Q1: KEY Takeaways

Nabors Industries’ Perspective in Q1: KEY Takeaways

June 16, 2025
ProPetro’s Perspective in Q1: KEY Takeaways

ProPetro’s Perspective in Q1: KEY Takeaways

June 13, 2025
Market Sentiment Tracker: What If This Is as Good as It Gets?

Market Sentiment Tracker: What If This Is as Good as It Gets?

June 11, 2025
Monday Macro View: As OPEC+ Raises Output, Is U.S. Shale Prepared to Follow—or Fade?

Monday Macro View: As OPEC+ Raises Output, Is U.S. Shale Prepared to Follow—or Fade?

June 9, 2025
  • HOME
  • ABOUT US
  • RESEARCH
  • EVENTS
  • PRESS
  • SUPPORT
  • FAQ
  • LATEST NEWS
  • LOGIN
  • SIGN UP!

© 2025 Primary Vision. All rights reserved.

  • HOME
  • ABOUT US
    • ABOUT US
    • PRIMARY VISION AI INNOVATIONS
  • RESEARCH
    • INSIGHTS & ARTICLES
    • FREE ARTICLES
  • EVENTS
  • PRESS
  • SUPPORT
  • FAQ
  • LATEST NEWS
  • LOGIN
  • SIGN UP!
    • FRAC SPREAD COUNT SIGN-UP!
    • ENTERPRISE SUBSCRIPTION PLAN SIGN UP!

© 2025 Primary Vision. All rights reserved.