Sat, January 18, 2025
Fri, January 17, 2025
Thu, January 16, 2025

SLB Stock Jumps on Earnings, Dividend Hike and Buyback News

SLB stock is soaring Friday after the energy firm reported strong fourth-quarter earnings and unveiled several shareholder-friendly initiatives.
SLB, formerly known as Schlumberger, experienced a significant stock price increase following the announcement of its first-quarter earnings, which exceeded expectations. The company reported adjusted earnings of 63 cents per share with revenues reaching $7.7 billion, surpassing the consensus estimates of 61 cents per share on $7.4 billion in sales. This performance was driven by robust demand in international markets, particularly in the Middle East and offshore regions, despite challenges in North America. Additionally, SLB announced a 10% hike in its quarterly dividend to 25 cents per share and a new $3 billion stock repurchase program, signaling strong confidence in its future cash flows and commitment to shareholder returns. These positive developments led to a 4.5% surge in SLB's stock price in premarket trading.

Read the Full Kiplinger Article at:
[ https://www.kiplinger.com/investing/stocks/slb-stock-jumps-on-earnings-dividend-hike-and-buyback-news ]


Similar Business and Finance Publications