Energy infrastructure company Schlumberger Limited (NYSE: SLB) on Friday announced financial results for the fourth quarter of 2023, reporting higher revenues and earnings.
- Fourth-quarter revenue increased 14% year-over-year to $8.99 billion, and rose 8% sequentially
- Adjusted earnings, excluding charges and credits, came in at $0.86 per share, up 21% YoY
- On an unadjusted basis, earnings per share moved up 4% annually to $0.77 during the three months
- The company ended the quarter with cash flow from operations of $3.02 billion and free cash flow of $2.28 billion
- The board of directors approved a 10% increase in quarterly cash dividend to $0.275 per share
- During the quarter, the company repurchased 1.8 million shares at an average price of $54.46 per share
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