SLB, formerly Schlumberger Limited and the world's largest oilfield services provider, reported its third-quarter 2024 earnings. The company posted adjusted earnings per share of $0.89, surpassing analysts' estimates of $0.88. Revenue came in at $9.16 billion, slightly below expectations of $9.28 billion, but increased 10% year over year. Adjusted EBITDA was $2.34 billion, marginally below the estimated $2.35 billion. Well Construction revenue totaled $3.31 billion, missing the expected $3.46 billion. Net income was $1.19 billion with GAAP earnings per share of $0.83, increasing 8% sequentially and 6% year over year. EPS excluding charges and credits increased 5% sequentially and 14% year over year. The company noted that short-cycle activity growth softened, and some international producers exercised cautious spending due to lower oil prices and ample global supply, while land activity in the U.S. remained subdued. CEO Olivier Le Peuch stated, "We do not see any U.S. activity rebound in the near term" and expects muted fourth-quarter sales growth given U.S. exploration and production budget exhaustion. Following the earnings release, SLB's stock slumped as falling oil prices prompted customers to be cautious. Despite these challenges, the company beat quarterly profit estimates, driven by steady international business and delivered strong performance with accelerated shareholder returns.