For the full year EPS came in at $5.57 on $48.58 billion in revenues, compared with EPS of $4.75 on revenues of $45.27 billion in 2013. The consensus estimates called for EPS of $5.53 on revenues of $48.62 billion.
Fourth-quarter EPS includes one-time charges totaling $1.27 per share or $1.639 billion. Full-year EPS including one-time charges totaled $4.31. All the charges were taken in the fourth quarter.
North American revenue rose 2% sequentially to $4.32 billion and international revenue slipped 1% sequentially to $8.21 billion. Year-over-year fourth-quarter North American revenue rose 19%. International revenue grew 1% year-over-year.
Schlumberger expects to chop capex by 25% in 2015, from 2014 spending of $4 billion to $3 billion.
The company did not provide guidance in its press release, saying it would provide information in a conference call Friday morning. Consensus first quarter estimates call for EPS of $1.25 on revenues of $11.7 billion. For the full year, EPS is pegged at $4.81 on revenues of $46.61 billion.
Earlier Thursday Schlumberger announced a 20% increase to its quarterly dividend, from $0.40 to $0.50 per share. The company also repurchased 12.1 million shares of common stock in the fourth quarter at a total price of $1.1 billion.
The company’s CEO said:
The strength of these results demonstrated the resiliency of our business portfolio in the face of activity challenges in 2014 in Brazil, Mexico, and China; reduced spending in deepwater, exploration and seismic activity; unrest in Libya and Iraq; international sanctions in Russia; and the accelerating fall in the price of oil toward the end of the year. The combination of these headwinds reduced revenue growth by more than $1 billion, or 2%, yet revenue still increased 7% as a result of strong tailwinds in Argentina, Ecuador, Sub-Saharan Africa, Saudi Arabia, the United Arab Emirates, and North America that combined with market share gains, drove overall performance.
Shares are up about 0.7% in after-hours trading at $77.15 in a 52-week range of $75.60 to $118.76. Thomson Reuters had a consensus analyst price target of around $98.60 before today’s results were announced.
ALSO READ: Outlook for Oilfield Services in 2015
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.