Schlumberger Outshines Expectations: Solid International Growth Fuels Q2 Success
Portfolio Pulse from Akanksha Bakshi
Schlumberger N.V. (NYSE:SLB) reported a strong Q2 2024 with a 13% YoY revenue increase to $9.139 billion, beating expectations. The company saw significant international growth, particularly in the Middle East & Asia, and strong performance in its digital and core businesses. Adjusted EPS rose 18% YoY to $0.85, and the company declared a quarterly dividend of $0.275 per share. SLB also repurchased 9.9 million shares for $465 million and aims to return $3.0 billion to shareholders in 2024.
July 19, 2024 | 1:47 pm
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Schlumberger reported a strong Q2 2024 with a 13% YoY revenue increase to $9.139 billion, beating expectations. The company saw significant international growth, particularly in the Middle East & Asia, and strong performance in its digital and core businesses. Adjusted EPS rose 18% YoY to $0.85, and the company declared a quarterly dividend of $0.275 per share. SLB also repurchased 9.9 million shares for $465 million and aims to return $3.0 billion to shareholders in 2024.
Schlumberger's strong Q2 performance, driven by significant international growth and robust digital sales, indicates a positive short-term outlook. The company's ability to beat revenue and EPS expectations, along with its shareholder-friendly actions like dividends and share repurchases, are likely to boost investor confidence and support the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100