SLB Targets $2 Billion Digital Revenue, 42% Margins by 2030
SLB sits 61% above its 52-week low of $31.64.
Summary
SLB announced ambitious targets to double its digital business revenue to $2 billion and adjusted EBITDA to $1.8-$2 billion by 2030, with margins expanding to 38-42%. This guidance was provided at its Digital Investor Day, following an earlier announcement of an additional $10 billion in digital spending by 2030. These specific long-term financial targets highlight SLB's strategic focus on AI-driven digital solutions within the energy sector, including its partnership with Nvidia. The company expects significant growth and improved profitability from this segment.
At the time of this announcement, SLB was trading at $50.79 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $75.9B. The 52-week trading range was $31.64 to $58.82. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.