Schlumberger Beats Q4 EPS Expectations

Schlumberger Limited. SLB reported results Thursday for the full-year and fourth-quarter 2014.

Revenue came in at $12.6 billion, below estimates of $12.72 billion but an increase of 6 percent compared to the year-ago period.

The company reported EPS at $1.50, above estimates of $1.49, excluding charges and credits, a growth of 11 percent year-on-year.

The Board also approved a 25 percent increase in dividend, effective April 10, 2015.

Schlumberger CEO Paal Kibsgaard commented, “Full-year 2014 revenue of $48.6 billion increased 7 percent year-on-year and grew for the fifth consecutive year. Performance was driven by North America where revenue grew 16 percent, while International Area growth of 4 percent was led by a 10 percent increase in Middle East & Asia Area revenue. Full-year pretax operating income grew by 13 percent, with pretax operating margin expanding 113 basis points to 21.8 percent. International margin expanded by 168 basis points to reach 23.9 percent, reflecting an incremental operating margin of 69 percent.

Schlumberger traded at $76.94 in the after-hours session, up 0.40 percent.