SLB Limited (NYSE:SLB) reported Friday fourth-quarter results that showed sequential improvement as global upstream activity stabilized, supported by growth in Production Systems and Digital.
The company said performance reflected stronger year-end demand and continued contributions from its expanded portfolio following the ChampionX acquisition.
Fourth-quarter revenue totaled $9.745 billion, up 5% from a year earlier and above the $9.547 billion analyst estimate. Diluted GAAP earnings per share were 55 cents, down from 77 cents a year earlier, while diluted EPS, excluding charges and credits, was 78 cents, down from 92 cents a year earlier but ahead of the 74-cent estimate.
Net income attributable to SLB was $824 million, down from $1.095 billion a year earlier. Adjusted EBITDA was $2.331 billion, compared with $2.382 billion a year earlier, reflecting lower margins year over year despite sequential improvement.
Fourth-quarter cash flow from operations was $3.01 billion, and free cash flow was $2.29 billion, including $71 million of ChampionX acquisition-related payments. …