SLB (SLB) Q3 FY2021 earnings: revenue $5.8 billion, up 11.2% on the year

SLB Limited (SLB) reported revenue of $5.8 billion for Q3 FY2021, the quarter ended 30 September 2021, up 11.2% on the same quarter a year earlier. Net income was $550 million, and diluted earnings per share $0.39. The figures are the company's own, from the 10-Q it filed with the SEC on 27 October 2021.

Revenue

$5.8 billion

+11.2% on the year · +3.8% on the quarter

Q4 FY2019Q3 FY2021

Operating margin

15.5%

10.9% a year earlier

Q4 FY2019Q3 FY2021

Net income

$550 million

+27.6% on the quarter

Q4 FY2019Q3 FY2021

Diluted EPS

$0.39

+30.0% on the quarter

Q4 FY2019Q3 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ million	Q3 FY2021	Q2 FY2021	Q3 FY2020	On the quarter	On the year
Revenue	5,847	5,634	5,258	+3.8%	+11.2%
Cost of revenue	4,862	4,768	4,624	+2.0%	+5.1%
Gross profit	985	866	634	+13.7%	+55.4%
Gross margin	16.8%	15.4%	12.1%
Research and development	140	134	137	+4.5%	+2.2%
Operating income	908	807	575	+12.5%	+57.9%
Operating margin	15.5%	14.3%	10.9%
Interest expense	130	136	138	-4.4%	-5.8%
Pre-tax income	691	542	-54.0	+27.5%
Income tax	129	99.0	19.0	+30.3%	+578.9%
Effective tax rate	18.7%	18.3%	n/a
Net income	550	431	-82.0	+27.6%
Net margin	9.4%	7.6%	-1.6%
Diluted EPS	$0.39	$0.30	-$0.06	+30.0%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2021	Q2 FY2021	Q3 FY2020	On the quarter	On the year
Operating cash flow	1,070	1,220	479	-12.3%	+123.4%
Capital expenditure	273	243	200	+12.3%	+36.5%
Free cash flow	797	977	279	-18.4%	+185.7%
Free cash flow margin	13.6%	17.3%	5.3%
Cash from investing	-619	15.0	-740
Cash from financing	-322	-1,070	21.0
Depreciation and amortisation	425	427	464	-0.5%	-8.4%
Depreciation	350	352	385	-0.6%	-9.1%
Share-based compensation	73.0	72.0	105	+1.4%	-30.5%
Dividends paid	175	175	174	0.0%	+0.6%
Diluted shares, weighted	1,424m	1,421m	1,391m	+0.2%	+2.4%
Shares outstanding at period end	1,403m	1,398m	1,392m	+0.3%	+0.8%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2021	Q2 FY2021	Q3 FY2020	On the quarter	On the year
Shareholders' equity	13,362	12,762	11,941	+4.7%	+11.9%
Non-controlling interest	303	297	428	+2.0%	-29.2%
Debt	15,395	15,687	16,471	-1.9%	-6.5%
Other liabilities	11,978	12,162	15,226	-1.5%	-21.3%
Total liabilities and equity	41,038	40,908	44,066	+0.3%	-6.9%
Fixed assets	6,375	6,473	7,396	-1.5%	-13.8%
Goodwill	12,990	12,987	12,968	+0.0%	+0.2%
Intangible assets	3,265	3,311	3,573	-1.4%	-8.6%
Investments	1,373	1,243	2,618	+10.5%	-47.6%
Cash and equivalents	1,569	1,439	1,219	+9.0%	+28.7%
Receivables	5,349	5,347	5,552	+0.0%	-3.7%
Inventory	3,296	3,267	3,542	+0.9%	-6.9%
Other assets	6,821	6,841	7,198	-0.3%	-5.2%
Total assets	41,038	40,908	44,066	+0.3%	-6.9%

Questions

What was SLB's revenue in Q3 FY2021?

SLB (SLB) reported revenue of $5.8 billion for Q3 FY2021, the quarter ended 30 September 2021, up 11.2% on the same quarter a year earlier.

How much did SLB earn in Q3 FY2021?

Net income for Q3 FY2021 was $550 million, and diluted earnings per share $0.39.

When did SLB report Q3 FY2021 results?

SLB filed its 10-Q for the quarter ended 30 September 2021 with the SEC on 27 October 2021.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	6,225	5,962	6,773	7,477	7,879	7,736	8,099	8,310	8,990	8,707	9,139	9,159	9,284	8,490	8,546	8,928	9,744	8,721	8,972	9,449
Cost of revenue	5,137	5,013	5,568	6,042	6,307	6,285	6,502	6,592	7,193	7,007	7,262	7,237	7,323	6,884	6,934	7,370	8,013	7,390	7,577	7,883
Gross profit	1,088	949	1,205	1,435	1,572	1,451	1,597	1,718	1,797	1,700	1,877	1,922	1,961	1,606	1,612	1,558	1,731	1,331	1,395	1,566
Gross margin	17%	16%	18%	19%	20%	19%	20%	21%	20%	20%	21%	21%	21%	19%	19%	17%	18%	15%	16%	17%
R&D	145	141	154	160	179	174	163	186	188	182	188	187	192	172	180	170	187	164	171	156
Operating income	986	894	1,159	1,400	1,558	1,391	1,581	1,683	1,868	1,649	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Operating margin	16%	15%	17%	19%	20%	18%	20%	20%	21%	19%	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Interest expense	137	123	124	122	121	117	127	129	130	113	132	136	131	147	142	142	127	116	128	133
Pre-tax income	755	638	1,152	1,134	1,347	1,161	1,293	1,395	1,433	1,357	1,421	1,507	1,387	1,063	1,285	1,000	943	956	1,019	1,019
Tax rate	19%	18%	16%	19%	20%	19%	19%	19%	20%	19%	19%	19%	19%	22%	18%	23%	15%	20%	20%	23%
Net income	601	510	959	907	1,065	934	1,033	1,123	1,113	1,068	1,112	1,186	1,095	797	1,014	739	824	752	786	735
Net margin	10%	9%	14%	12%	14%	12%	13%	14%	12%	12%	12%	13%	12%	9%	12%	8%	8%	9%	9%	8%
Diluted EPS	$0.42	$0.36	$0.67	$0.63	$0.74	$0.65	$0.72	$0.78	$0.77	$0.74	$0.77	$0.83	$0.77	$0.58	$0.74	$0.50	$0.55	$0.50	$0.52	$0.49
Operating cash flow	1,932	131	408	1,567	1,614	330	1,608	1,677	3,022	327	1,436	2,449	2,390	660	1,142	1,682	3,005	487	1,359	1,510
Capital expenditure	447	304	360	382	572	410	471	464	594	399	463	460	609	398	371	409	516	343	459	485
Free cash flow	1,485	-173	48.0	1,185	1,042	-80.0	1,137	1,213	2,428	-72.0	973	1,989	1,781	262	771	1,273	2,489	144	900	1,025
Dividends paid	175	175	177	248	248	249	356	356	356	357	394	393	389	386	387	403	426	426	440	439
Shares outstanding	1,403m	1,413m	1,414m	1,418m	1,420m	1,425m	1,421m	1,423m	1,427m	1,429m	1,420m	1,412m	1,401m	1,360m	1,351m	1,494m	1,495m	1,495m	1,484m	1,476m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2021, filed 27 October 2021: the filing.