Revenue Performance:
- Q4 2023 Revenue: $48.93 billion (QoQ: -5.76%, YoY: -10.25%)
- Gross Profit: $14.20 billion, with a gross profit margin decreasing to 29%.
- Operating Income: $5.41 billion, representing a drop of 45.55% YoY.
- Net Income: $2.26 billion, or EPS of $1.22, down 64.44% YoY.
Profitability Metrics:
- EBITDA: $9.99 billion, and an EBITDA margin of 20.5%.
- Net Income Margin: 4.7%.
Balance Sheet Strength:
- Total Assets: $261.63 billion; Total Liabilities: $99.70 billion; Total Equity: $160.96 billion.
- Net Debt Ratio: 7%, reflecting strong debt management.
- Cash Flow from Operations: $12.43 billion, with a free cash flow of $8.07 billion after capital expenditures of $4.36 billion.
Management attributed the revenue decline to lower oil prices while maintaining a commitment to return cash to shareholders, announcing an 8% dividend increase, which highlights confidence in future cash flows.