Houston, United States: Sunday, October 23, 2022
- Revenue of $7.5 billion increased 10% sequentially and 28% year on year
- International revenue of $5.9 billion increased 13% sequentially and 26% year on year
- North America revenue of $1.5 billion was flat sequentially and increased 37% year on year
- GAAP EPS of $0.63 decreased 6% sequentially and increased 62% year on year
- EPS, excluding charges and credits, of $0.63 increased 26% sequentially and 75% year on year
- Cash flow from operations was $1.6 billion and free cash flow was $1.1 billion
- Board approved quarterly cash dividend of $0.175 per share
- Schlumberger CEO Olivier Le Peuch commented, “The second half of the year is off to a great start with strong third-quarter results that reflect the acceleration of international momentum and solid execution across our Divisions and areas. Sequentially, we delivered another quarter of double-digit revenue growth and margin expansion, as the pace of growth in our international business stepped up significantly, complementing already robust levels of activity in North America.
“On a companywide basis, sequential revenue grew 10%, by more than $700 million; EPS—excluding charges and credits—increased 26%; pretax segment operating margin expanded 161 basis points (bps) to reach 18.7%; and free cash flow was $1.1 billion. Both EPS—excluding charges and credits—and pretax segment operating margin represent their highest levels since 2015, as we continue to execute on our returns-focused strategy with much success.“Year-over-year comparisons were exceptional with revenue growing by 28%; EPS—excluding charges and credits—increasing 75%; and pretax segment operating margin expanding 320 bps.”
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