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Schlumberger Announces Fourth-Quarter and Full-Year 2021 Results

HOUSTON-Monday 31 January 2022 [ AETOS Wire ]

 

  • Fourth-quarter revenue of $6.22 billion increased 6% sequentially and 13% year-on-year

  • Fourth-quarter GAAP EPS of $0.42 increased 8% sequentially and 56% year-on-year

  • Fourth-quarter EPS, excluding charges and credits, of $0.41 increased 14% sequentially and 86% year-on-year

  • Fourth-quarter cash flow from operations was $1.93 billion and free cash flow was $1.30 billion

  • Board approved quarterly cash dividend of $0.125 per share

  • Full-year revenue was $22.9 billion

  • Full-year GAAP EPS was $1.32

  • Full-year EPS, excluding charges and credits, was $1.28

  • Full-year cash flow from operations was $4.65 billion and free cash flow was $3.00 billion

(BUSINESS WIRE) -- Schlumberger Limited (NYSE: SLB) today reported results for the fourth-quarter and full-year 2021.

Fourth-Quarter Results

   

(Stated in millions, except per share amounts)

   

Three Months Ended

 

Change

   

Dec. 31, 2021

 

Sept. 30, 2021

 

Dec. 31, 2020

 

Sequential

 

Year-on-year

Revenue*

 

$6,225

 

$5,847

 

$5,532

 

6%

 

13%

Income before taxes - GAAP basis

 

$755

 

$691

 

$471

 

9%

 

60%

Net income - GAAP basis

 

$601

 

$550

 

$374

 

9%

 

61%

Diluted EPS - GAAP basis

 

$0.42

 

$0.39

 

$0.27

 

8%

 

56%

               

 

 

 

Adjusted EBITDA**

 

$1,381

 

$1,296

 

$1,112

 

7%

 

24%

Adjusted EBITDA margin**

 

22.2%

 

22.2%

 

20.1%

 

2 bps

 

208 bps

Pretax segment operating income**

 

$986

 

$908

 

$654

 

9%

 

51%

Pretax segment operating margin**

 

15.8%

 

15.5%

 

11.8%

 

31 bps

 

401 bps

Net income, excluding charges & credits**

 

$587

 

$514

 

$309

 

14%

 

90%

Diluted EPS, excluding charges & credits**

 

$0.41

 

$0.36

 

$0.22

 

14%

 

86%

               

 

 

 

Revenue by Geography

             

 

 

 

International

 

$4,898

 

$4,675

 

$4,343

 

5%

 

13%

North America*

 

1,281

 

1,129

 

1,167

 

13%

 

10%

Other

 

46

 

43

 

22

 

n/m

 

n/m

   

$6,225

 

$5,847

 

$5,532

 

6%

 

13%

                   

 

*Schlumberger divested certain businesses in North America during the fourth quarter of 2020. These businesses generated revenue of $284 million during the fourth quarter of 2020. Excluding the impact of these divestitures, global fourth-quarter 2021 revenue increased 19% year-on-year. North America fourth-quarter 2021 revenue, excluding the impact of these divestitures, increased 45% year-on-year.

**These are non-GAAP financial measures. See sections titled "Charges & Credits", "Divisions", and "Supplemental Information" for details.

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20220119005948/en/

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