SBM Offshore Full Year 2023 Earnings

SBM Offshore is a leading provider of floating oil and gas production systems, with operations in over 35 countries worldwide. The company's full-year 2023 earnings report was recently released, highlighting several key achievements for the company.

One of the most notable highlights from the report was the record-level Directional1 Revenue of US$4.5 billion, which was above guidance. This revenue growth can be attributed to the successful completion of several major projects, including the Greater Eni project in Brazil and the Yuzhno-Caspian project in Russia.

In addition to strong revenue growth, SBM Offshore also reported a record-level Directional EBITDA of US$1.3 billion, which was in line with guidance. This increase in earnings before interest, taxes, depreciation, and amortization (EBITDA) can be attributed to the successful completion of several major projects, as well as increased revenue from existing operations.

Another key highlight from the report was the US$30.3 billion Directional backlog, which represents future revenue opportunities for the company. This backlog includes projects that are in various stages of development and are expected to contribute to strong growth in the coming years.

Finally, SBM Offshore reported a record-level Directional net income of US$1.2 billion, which was above guidance. This increase in net income can be attributed to the successful completion of several major projects, as well as increased revenue from existing operations.

Overall, SBM Offshore's full-year 2023 earnings report highlights the company's strong financial performance and growth prospects. With a record-level backlog and a focus on delivering high-quality projects to its customers, SBM Offshore is well positioned for continued success in the years ahead.