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SLB Stock Jumps on Earnings, Dividend Hike and Buyback News


Published on 2025-01-17 10:40:48 - Kiplinger
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  • 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 ]
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