Q1 results showed revenue growth of 2.7% to $8.7B amid Middle East conflict disruptions, but net income declined 5.6% to $752M due to contracting margins in Well Construction and Production Systems from lower profitability and pricing headwinds.
Key takeaways
Revenue increased 2.7% to $8.7B from $8.5B, reflecting resilience despite Middle East conflict impacts on operations.
Diluted EPS fell 13.8% to $0.50 from $0.58, pressured by profitability challenges in key segments.
Free cash flow was $144.0M, representing cash flow from operations less capital expenditures, an important liquidity measure highlighting cash generation ability.