SLB said full-year 2024 revenue increased 10% year on year, and it generated $6.6 billion in cash flow from operations and $4.0 billion in free cash flow, enabling it to return $3.3 billion to shareholders and reduce net debt by $571 million.

10-KAnnual reportFiled Jan 22, 2025Period of report Dec 31, 2024Summary published (UTC) Oct 12, 2026

Key points

AI summary

SLB said full-year 2024 revenue increased 10% year on year, and it generated $6.6 billion in cash flow from operations and $4.0 billion in free cash flow, enabling it to return $3.3 billion to shareholders and reduce net debt by $571 million.
SLB said full-year 2024 revenue of $36.3 billion increased 10% year on year, international revenue grew 12%, and excluding the contribution of the Aker subsea business acquired in Q4 2023, international revenue increased 7%. The company added that North America revenue declined 1% due to lower drilling in US land.
SLB said its Board of Directors approved a 3.6% increase to its quarterly dividend from $0.275 per share to $0.285 per share, beginning with the dividend payable in January 2025, and it entered into accelerated share repurchase transactions to repurchase $2.3 billion of SLB common stock. The company said it will increase total return to shareholders from $3.3 billion in 2024 to at least $4 billion in 2025.
SLB said as of December 31, 2024 it had $4.67 billion of cash and short-term investments and committed credit facility agreements aggregating $5.0 billion, all of which was available. The company also said it anticipates the completion of its announced acquisition of ChampionX.

Key figures

Fiscal year ended December 31, 2024

Revenue: $36.3B
Net income: $4.5B
EPS: $3.11
Operating cash flow: $6.6B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis 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.

Full-year 2024 revenue, cash flow and shareholder returns

SLB said full-year 2024 revenue increased 10% year on year, and it generated $6.6 billion in cash flow from operations and $4.0 billion in free cash flow, enabling it to return $3.3 billion to shareholders and reduce net debt by $571 million.

Source · Based on the MD&A text of the filing

Regional revenue and Aker acquisition impact

SLB said full-year 2024 revenue of $36.3 billion increased 10% year on year, international revenue grew 12%, and excluding the contribution of the Aker subsea business acquired in Q4 2023, international revenue increased 7%. The company added that North America revenue declined 1% due to lower drilling in US land.

Source · Based on the MD&A text of the filing

January 2025 dividend increase and ASR

SLB said its Board of Directors approved a 3.6% increase to its quarterly dividend from $0.275 per share to $0.285 per share, beginning with the dividend payable in January 2025, and it entered into accelerated share repurchase transactions to repurchase $2.3 billion of SLB common stock. The company said it will increase total return to shareholders from $3.3 billion in 2024 to at least $4 billion in 2025.

Source · Based on the MD&A text of the filing

Liquidity and anticipated ChampionX acquisition

SLB said as of December 31, 2024 it had $4.67 billion of cash and short-term investments and committed credit facility agreements aggregating $5.0 billion, all of which was available. The company also said it anticipates the completion of its announced acquisition of ChampionX.

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.

View the original filing on SEC EDGAR ↗

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