SLB ( NYSE: SLB ) warned of business risks associated with additional sanctions on Russia, according to a new 10-K filing Wednesday, even as its revenue in the country continued to rise to $1.69B in FY 2022, 6% of the company's full-year worldwide total.
The company formerly called Schlumberger said the carrying value of its net assets in Russia totaled ~$700M at the end of 2022, down from $900M at the end of the previous quarter, and $300M in unpaid bills from the country.
SLB ( SLB ) also said in the filing it had ~$1B in unpaid bills from its unspecified primary customer in Mexico that were not in dispute, adding it not previously experienced any material writeoffs resulting from uncollected bills from this entity.
SLB ( SLB ) reported last week reported Q4 adjusted earnings and revenues that beat analyst estimates while raising its quarterly dividend to $0.25/share .
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SLB's unpaid bills total $300M in Russia, $1B in Mexico