Advertisement
Canada markets closed
  • S&P/TSX

    22,726.76
    -124.41 (-0.54%)
     
  • S&P 500

    5,544.59
    -43.68 (-0.78%)
     
  • DOW

    40,665.02
    -533.06 (-1.29%)
     
  • CAD/USD

    0.7296
    -0.0013 (-0.18%)
     
  • CRUDE OIL

    82.40
    -0.45 (-0.54%)
     
  • Bitcoin CAD

    87,279.05
    -1,324.74 (-1.50%)
     
  • CMC Crypto 200

    1,321.68
    -7.83 (-0.59%)
     
  • GOLD FUTURES

    2,447.10
    -12.80 (-0.52%)
     
  • RUSSELL 2000

    2,198.29
    -41.38 (-1.85%)
     
  • 10-Yr Bond

    4.1890
    +0.0430 (+1.04%)
     
  • NASDAQ

    17,871.22
    -125.70 (-0.70%)
     
  • VOLATILITY

    15.93
    +1.45 (+10.01%)
     
  • FTSE

    8,204.89
    +17.43 (+0.21%)
     
  • NIKKEI 225

    40,126.35
    -971.34 (-2.36%)
     
  • CAD/EUR

    0.6692
    +0.0013 (+0.19%)
     

SLB to add $5 billion in revenue this year, sees similar growth in 2024

New SLB logo seen in Houston, Texas

HOUSTON (Reuters) - SLB is on track to add about $5 billion in revenue this year, and sees similar potential for growth in 2024, mainly helped by increased drilling in international markets, CEO Olivier Le Peuch said at a conference on Wednesday.

SLB, the world's largest oilfield service company and former Schlumberger, is betting on a recent resurgence in offshore and international drilling in regions like the Middle East to boost revenue as North America drilling has lagged.

SLB said it expects to add about $5 billion in revenue in 2023, compared with its previous estimate to increase revenue by 15%, which worked out to a $4.2 billion growth.

It also expects to grow earnings before interest, tax, depreciation and amortization (EBITDA) by $1.5 billion this year. It had previously forecast adjusted EBITDA percentage growth in the mid-20s, which at its midpoint translated to $1.6 billion.

ADVERTISEMENT

"Directionally, we see the potential to repeat this by adding similar revenue and EBITDA dollar growth in 2024," Le Peuch said at a Barclays energy conference.

International core revenue is projected to exceed $23 billion in 2023, representing growth in the high teens, Le Peuch added.

(Reporting by Arathy Somasekhar in Houston; Editing by Marguerita Choy)