Schlumberger Limited: The ChampionX Acquisition, Asia Growth Opportunities

During Schlumberger’s (SLB) first quarter 2024 earnings, the company’s evenue grew by 13% YoY, and EBITDA grew in the mid-teens, in line with SLB’s full-year financial ambitions. International activity fuelled the growth, with revenue increases observed in 21 of the 25 international GeoUnits. North America, however, showed a decrease in activity, resulting in a 6% YoY fall in revenue. In terms of divisions, Well Construction, Reservoir Performance, and Production Systems all witnessed growth. Encouragingly, this was the 13th consecutive quarter of year-on-year adjusted EBITDA margin expansion. For the full year, the company continues to set its sights on high teen growth for its digital revenue.