Earnings Summary: Schlumberger reports strong revenue and earnings growth for Q2

Energy infrastructure company Schlumberger Limited (NYSE: SLB) announced operating results for the second quarter of 2024, reporting strong growth in revenues and earnings.

• Second-quarter revenue increased 13% year-over-year to $9.14 billion; it was up 5% sequentially
• Net income attributable to the company came in at $1.11 billion in the June quarter, marking an 8% growth
• Net income, on a per-share basis, advanced 7% annually to $0.77; up 4% quarter-over-quarter
• Adjusted earnings, excluding charges and credits, was $0.85 per share in Q2, higher by 18% from last year
• Q2 adjusted EBITDA grew 17% annually and 11% quarter-over-quarter to $2.29 billion
• At the end of the quarter, the company had cash flow from operations of $1.44 billion and free cash flow of $776 million
• During the quarter, the board of directors approved a quarterly cash dividend of $0.275 per share