Schlumberger Limited (SLB) Q4 2022 Earnings Call Transcript

Schlumberger Limited (NYSE:SLB) Q4 2022 Earnings Conference Call January 20, 2023 9:30 AM ET

Company Participants

ND Maduemezia - VP, IR

Olivier Le Peuch - CEO

Stephane Biguet - CFO

Conference Call Participants

James West - Evercore ISI

David Anderson - Barclays

Chase Mulvehill - Bank of America

Arun Jayaram - JPMorgan Chase

Scott Gruber - Citigroup

Roger Read - Wells Fargo

Luke Lemoine - Piper Sandler

Kurt Hallead - Benchmark

Operator

Ladies and gentlemen, thank you for standing by. And welcome to the SLB Earnings Conference Call. At this time, all participant lines are in a listen-only mode. Later, there will be an opportunity for your questions. [Operator Instructions]

As a reminder, this conference is being recorded. I would now like to turn the conference over to the Vice President of Investor Relations, ND Maduemezia. Please go ahead.

ND Maduemezia

Thank you, Leah. Good morning. And welcome to the SLB fourth quarter and full year 2022 earnings conference call. Today’s call is being hosted from Houston, following our Board meeting held earlier this week. Joining us on the call are Olivier Le Peuch, Chief Executive Officer; and Stephane Biguet, Chief Financial Officer.

Before we begin, I would like to remind all participants that some of the statements we will be making today are forward-looking. These matters involve risks and uncertainties that could cause our results to differ materially from those projected in these statements. I therefore refer you to our latest 10-K filing and our other SEC filings.

Our comments today may also include non-GAAP financial measures. Additional details and reconciliation to the most directly comparable GAAP financial measures can be found in our fourth quarter press release, which is on our website.

With that, I will turn the call over to you, Olivier.

Olivier Le Peuch

Thank you, ND. Ladies and gentlemen, thank you for joining us on the call today. In my prepared remarks, I will cover our fourth quarter results and follow this with a quick review of our full year 2022 achievements. Then I will share some thoughts on the outlook for the full year. Stephane will then provide more detail on our financial results and we will open for your questions.

To begin, we sustained growth momentum through the fourth quarter, delivering strong revenue growth and further margin expansion, both sequentially and year-over-year. The quarter was characterized by very strong activity growth in the Middle East and offshore and was augmented by robust year-end sales in Digital.