Schlumberger Limited Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Capex Guidance for the Year 2018
For the full year, the company reported revenue of USD 30,440 million compared to USD 27,810 million a year ago. Loss before taxes was USD 1,183 million compared to USD 1,905 million a year ago. Net loss attributable to the company was USD 1,505 million compared to USD 1,687 million a year ago. Diluted loss per share was USD 1.08 compared to USD 1.24 a year ago. Pretax operating income was USD 3,921 million compared to USD 3,273 million a year ago. Net loss was USD 1,505 million compared to USD 1,687 million a year ago. GAAP Diluted loss per share was USD 1.08 compared to USD 1.24 a year ago. Cash flow from operations was USD 5,663 million compared to USD 6,261 million a year ago. Capital expenditures were USD 2,107 million compared to USD 2,055 million a year ago. Free cash flow was USD 1,671 million compared to USD 2,545 million a year ago. Net debt, end of period was USD 13,110 million compared to USD 10,121 million a year ago.
The company provided capex guidance for the year 2018. For the year, the company's capex (excluding multiclient and SPM investments) is expected to be approximately USD 2 billion, which is similar to the levels of 2017 and 2016.