AI English summary of an SEC filing — figures as filed
SLB SLBSLB said global revenue for Q3 2024 was essentially flat with Q2 at $9.2 billion. Revenue grew sequentially in the Middle East & Asia and offshore North America, but the gains were offset by a decline in Latin America, and Europe & Africa revenue was flat sequentially.
Key points
AI summarySLB said global revenue for Q3 2024 was essentially flat with Q2 at $9.2 billion. Revenue grew sequentially in the Middle East & Asia and offshore North America, but the gains were offset by a decline in Latin America, and Europe & Africa revenue was flat sequentially.
The company reported revenue for Q3 of $1.1 billion for Digital & Integration, up 4% sequentially, with a pretax operating margin of 36%; $3.1 billion for Production Systems, up 3%, with a pretax operating margin of 17%; and $3.3 billion for Well Construction, down 3%, with a pretax operating margin of 22%.
The company said revenue for the 9 months ended 2024 totaled $27.0 billion, up 12% year on year. About 50% of the increase came from the acquisition of the Aker Solutions subsea business ("Aker") in Q4 2023. North America revenue fell 3%.
The company said it held cash and short-term investments of $4.5 billion as of September 30, 2024, along with committed debt facilities of $5.0 billion, all of which was available. It also disclosed that on October 17, 2024, it entered into an agreement to sell its interest in the Palliser APS project for approximately $430 million in cash.
Key figures
Quarter ended September 30, 2024
- Revenue
- $9.2B
- Net income
- $1.2B
- EPS
- $0.83
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Global revenue for Q3 2024 at $9.2 billion
SLB said global revenue for Q3 2024 was essentially flat with Q2 at $9.2 billion. Revenue grew sequentially in the Middle East & Asia and offshore North America, but the gains were offset by a decline in Latin America, and Europe & Africa revenue was flat sequentially.
Source · Based on the MD&A text of the filing
Revenue and pretax operating margin by segment for Q3
The company reported revenue for Q3 of $1.1 billion for Digital & Integration, up 4% sequentially, with a pretax operating margin of 36%; $3.1 billion for Production Systems, up 3%, with a pretax operating margin of 17%; and $3.3 billion for Well Construction, down 3%, with a pretax operating margin of 22%.
Source · Based on the MD&A text of the filing
Nine-month revenue for 2024 and the Aker acquisition contribution
The company said revenue for the 9 months ended 2024 totaled $27.0 billion, up 12% year on year. About 50% of the increase came from the acquisition of the Aker Solutions subsea business ("Aker") in Q4 2023. North America revenue fell 3%.
Source · Based on the MD&A text of the filing
Liquidity and Palliser sale agreement as of September 30, 2024
The company said it held cash and short-term investments of $4.5 billion as of September 30, 2024, along with committed debt facilities of $5.0 billion, all of which was available. It also disclosed that on October 17, 2024, it entered into an agreement to sell its interest in the Palliser APS project for approximately $430 million in cash.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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