Schlumberger Limited (NYSE:SLB) Q4 2023 Results Conference Call January 19, 2024 9:30 AM ET

Company Participants

James McDonald - Senior Vice President of Investor Relations and Industry Affairs

Olivier Le Peuch - Chief Executive Officer

Stephane Biguet - Executive Vice President and Chief Financial Officer

Conference Call Participants

James West - Evercore ISI

David Anderson - Barclays Bank PLC

Scott Gruber - Citigroup Inc

Luke Lemoine - Piper Sandler & Co

Saurabh Pant - Bank of America Securities

Neil Mehta - Goldman Sachs Group, Inc.

Arun Jayaram - JPMorgan Chase & Co.

Roger Read - Fargo Securities, LLC

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the SLB Earnings Conference Call. At this time, all participant lines are in a listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the conference over to the Senior Vice President of Investor Relations and Industry Affairs, James R. McDonald. Please go ahead.

James McDonald

Thank you, Leah. Good morning, and welcome to the SLB fourth quarter and full year 2023 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 Olivier.

Olivier Le Peuch

Thank you, James. Ladies and gentlemen, thank you for joining us on the call today. In my prepared remarks, I will discuss our fourth quarter and full year results, highlight a number of achievements and share our thoughts on the outlook for 2024 and our financial ambitions. Stephane will then provide more detail on our financial results and will open the line for your questions.

Let's begin. The fourth quarter was an impressive conclusion to the year's financial results. We grew revenue both sequentially and year-on-year and we achieved cycle high margins and cash flows during the quarter. Our strong performance was fueled by the international and offshore markets and was supported by robust sales in digital and integration of the acquired Aker subsea business.