- SLB (SLB, Financial) reports a 3% year-on-year revenue decline in the first quarter of 2025, totaling $8.49 billion.
- Net income attributable to SLB falls by 25% year-on-year, amounting to $797 million.
- The company remains committed to returning a minimum of $4 billion to shareholders in 2025.
SLB (SLB) has announced its financial results for the first quarter of 2025, reporting a revenue of $8.49 billion. This figure represents a 3% decrease from the same period last year. The company's diluted EPS on a GAAP basis saw a 22% drop year-on-year, settling at $0.58, while the EPS excluding charges and credits was slightly better at $0.72, marking a 4% decrease.
Net income attributable to SLB was reported at $797 million, reflecting a 25% decline compared to the first quarter of 2024. The company's adjusted EBITDA stood at $2.02 billion, a 2% decrease year-on-year, yet SLB managed to increase its cash flow from operations by $333 million to $660 million. The company's board has approved a quarterly cash dividend of $0.285 per share.
Geographically, international revenues dropped by 5%, primarily due to a significant reduction in drilling activities in Latin America and other regions, although North America revenue increased by 8% year-on-year, driven by higher digital sales and subsea production systems sales. Division-wise, Production Systems saw a 4% revenue increase, whereas the Well Construction division experienced a 12% decline. The Reservoir Performance division's revenue was relatively stable with a slight decrease of 1%.
Despite the challenging market conditions, SLB continues to innovate and manage costs effectively. The company remains committed to returning a minimum of $4 billion to shareholders in 2025 through dividends and share repurchases. CEO Olivier Le Peuch highlighted the company's strategy to expand its digital business and production systems division, emphasizing cost discipline and resource alignment with activity levels across global markets.
SLB remains focused on driving value through strategic acquisitions and technological advancements. In recent developments, SLB has entered into an agreement to acquire Interactive Network Technologies, Inc. This acquisition is set to enhance the company's digital offerings and expand its capabilities in the energy sector.
