Sunday, July 31, 2022

Feeling ’22: Mary Kay Inc. Announces Awards, Milestones, and Accomplishments From First Half of the Year

DALLAS - Saturday, 30. July 2022 AETOSWire


Garnering 30 awards—including ten employer awards—Mary Kay Inc. is recognized for its business excellence, social impact, advocacy engagement and sustainability efforts.


(BUSINESS WIRE)--Mary Kay Inc. is feeling ’22. Throughout the first half of the year, the iconic global entrepreneurship company has furthered its innovations in skin science, continued its social impact efforts, and garnered several prestigious awards for its business and leadership. It’s a thing of beauty—and the nearly 60-year-old brand is just getting started.


2022 AWARDS & HIGHLIGHTS


30 total awards for business excellence, social impact and sustainability

10 employer awards recognizing Mary Kay as a great place to work and for operational excellence

7 awards for Mary Kay’s c-suite and senior leadership

17 self-released reports reinforcing Mary Kay’s operational and philanthropic efforts supporting its sustainability commitments for its Enriching Lives Today for a Sustainable Tomorrow strategy

3 mentions in annual reports from social impact partners highlighting Mary Kay

8 leadership speaking engagements raising awareness for women’s empowerment and equality, supplier diversity and inclusion, water conservation, and access to education

2 film festival selections

4 research studies about gender-responsive procurement and geographic studies on women’s economic opportunities

7 research grants awarded supporting girls in science, cancer research and women’s empowerment

ETHOS & ECOSYSTEM: BUSINESS EXCELLENCE


A Great Place to Work


Resume.io published a list of “The Companies Employees Don't Want to Leave,” and Mary Kay ranked #8. Other companies included: Virgin Atlantic, Merck & Co. and Thomson Reuters.

Mary Kay received five top employer awards throughout the United States, Europe, and Malaysia from Kincentric.

Mary Kay was named one of America’s Best Midsize Employers 2022 by Forbes.

Deloitte named Mary Kay Inc. one of the 2022 US Best Managed Companies.

Mary Kay China was named “Best Employer of the Year” by Yidianzixun.

Mary Kay Poland was named one of Poland’s Best Employers for 2022 by Financial Magazine.

Mary Kay Czech Republic / Slovakia received the “Best Employer” designation by the Kincentric Best Employers Program.

Mary Kay Belarus received the “Direct Sales Cosmetic Company Number One Award” from the “Number One” Belarusian annual national awards, whose task is to promote healthy competition and to determine the best players in the Belarusian market.

Mary Kay Spain received “Best Employer” designation by the Kincentric Best Employers Program.

Organizational Effectiveness


Deborah Gibbins, Chief Operating Officer, expanded her role in operations to support the company’s digital strategy to be a more technology-enabled business with all IT functions now reporting to her.

Nathan Moore was appointed to the newly-created role of President, Global Sales and Marketing, and will assume responsibility for all Mary Kay markets around the world supporting Mary Kay independent beauty consultants.

Chaun Harper expanded his role to Chief Supply Chain Officer with additional responsibilities for direct procurement and contract manufacturing functions.

Dr. Lucy Gildea expanded her role to Chief Innovation Officer, Product and Science. Her additional duties include new product development, product portfolio strategy and planning, process development & commercialization (PrD&C), package engineering (PE) and R&D Compliance.

Leadership Recognition


David Holl, CEO, received the Bravo Leadership Award from Direct Selling News.

Julia Simon, Chief Legal Officer and Corporate Secretary, received the Robert H. Dedman Award for Ethics & Law from the Texas General Counsel Forum. Simon also serves as Chief Diversity and Inclusion Officer.

Sheryl Adkins-Green was selected as Dallas 500 by D CEO recognizing influential leaders in North Texas.

Ewa Kudlińska-Pyrz, Mary Kay Poland/Lithuania General Manager, was recognized as one of 50 most influential Polish women by Home & Market magazine, won the Pearls of Polish Business award, and recognized in “Rzeczpospolita Babska” created by Financial Magazine.

Science Behind the Beauty


To mark International Day of Women and Girls in Science, Mary Kay released a statement from Dr. Lucy Gildea about the importance of STEAM for young girls.

Mary Kay’s Girls & Women in STEAM series highlighting girls and women who are making changes in the areas of Science, Technology, Engineering, Arts and Mathematics awarded recipient, Ivanna Hernandez from Colombia, a continuing education grant to further her dream of being the first Latin American woman astronaut to go to space.

Mary Kay, in partnership with the Society for Investigative Dermatology, awarded four skin health / skin disease research grants to female researchers.

Mary Kay Germany/Netherlands/Switzerland earned the Top 100 Innovator seal from Compamedia.

Product Development


Mary Kay received the Gold Stevie award for “COVID: Most Valuable Product” for its hand sanitizer at the 20th Annual American Business Awards.

Digital Innovation


The Mary Kay® App was named a finalist in the Technology Innovation category by the Direct Selling Association.

PURPOSE & SOCIAL IMPACT: CATALYST FOR CHANGE


Women’s Empowerment & Equality


The Women’s Entrepreneurship Accelerator (WEA), established by Mary Kay in collaboration with six United Nations agencies, announced the launch of the first-ever free online Entrepreneurship Certificate Programme developed by International Trade Centre (ITC) SheTrades. Powered by Mary Kay, the 27 module-digital curriculum covers the 7 key stages of the entrepreneurial journey. Free, with no barrier to entry, it is available in English, Spanish, French—and soon Arabic—and is enriched with 200 videos.

ITC SheTrades, Mary Kay, and WEA hosted the “Entrepreneurship: Where to Start?” virtual event to celebrate the launch of the Entrepreneurship Certificate Programme. Deborah Gibbins, Mary Kay Chief Operating Officer, spoke at the event.

Mary Kay and WEA welcome International Telecommunication Union (ITU) the newest UN partner in bridging the digital gender divide.

ITC and WEA, in partnership with Mercado Libre, hosted a virtual workshop series in support of the launch of the online Entrepreneurship Certificate Programme. Workshops were held in Mexico, Brazil, Chile, Colombia, & Argentina.

The SDG Pilot Village Project (2017-2021) in Waipula, China, established by Mary Kay, the United Nations Development Programme (UNDP), the China International Center for Economic and Technical Exchanges (CICETE), the China Women’s Development Foundation and local partners was shortlisted for a P3 Impact Award and selected as a finalist for the P3 Impact Accelerator program. The P3 Impact Award was created by Concordia, the University of Virginia Darden School Institute for Business in Society, and the U.S. Department of State’s Office of Global Partnerships to recognize and honor leading public-private partnerships (P3s) that improve communities and the world.

Julia Simon, Chief Legal Officer and Corporate Secretary, interviewed Everjoy Mahuku, an accomplished leader from Zimbabwe, for CARE’s International Women’s Day (IWD) 2022 Campaign.

CARE recognized Mary Kay as one of the five sponsors of its IWD22 campaign titled #HerVoice. Other sponsors included P&G, The Coca-Cola Company, Cargill, and UPS.

Erin Duncan, Senior Director of Product Portfolio Strategy and Planning, delivered opening remarks to the Glamhive Live Spring Style & Beauty Summit panel: “Unstoppable: Ladies Who Launch.”

During its annual Cornerstone conference in Chile, International Women’s Forum (IWF) recognized Mary Kay as the supporter of groundbreaking research on Latin American Women in 18 countries over the past 25 years: “Democracy & Society from a Gender Perspective,” commissioned by IWF and conducted by the LatinBarometro.

Mary Kay sponsored the Network for Teaching Entrepreneurship (NFTE) World Series of Innovation (WSI) for the 2021-22 school year. Twenty-one teams of emerging social entrepreneurs won a total of $16,800 for their proposed solutions to WSI’s seven challenges, each of which focuses on advancing an SDG. Sponsors of the seven innovation challenges included: Bank of the West, Citi Foundation, Mary Kay, Saint-Gobain North America, Ernst & Young, LLP (EY), Maxar Technologies, and PIMCO.

International Labour Organization (ILO) and WEA released a Women Entrepreneurship Development (WED) Assessment in Mexico powered by Mary Kay, titled “Evaluación de las condiciones marco para el desarrollo empresarial de la mujer, Sectores de comercio e industria en la Ciudad de México.”

Diversity, Equity & Inclusion (DEI)


Through its partnership with the Equal Rights Trust, Mary Kay helped jumpstart the “Algorithmic Discrimination Initiative”, a new research and advocacy programme which aims to gather evidence on patterns of discrimination arising from the use of artificial intelligence and algorithmic decision-making systems and make the case for a proactive, pre-emptory and precautionary approach to addressing the discriminatory impacts of these technologies. The Equal Rights Trust undertook analysis of existing and proposed international law frameworks in this area; launched a “Call for Evidence on AI and Algorithmic Discrimination” through a gender-based lens; started the development of a new standard-setting document, the Principles on Equality by Design in Algorithmic Decision-Making; and began building a coalition of support for these Principles.

At the SCC75 Annual meeting for the Society of Cosmetic Chemists (SCC), Ms. A’Lelia Bundles, the great-great-granddaughter of Madam C.J. Walker, and Michelle Hines, Ph.D., Director of Product Formulation at Mary Kay, presented the Madam C.J. Walker Scholarships for under-represented minority students pursuing higher education in STEM disciplines related to cosmetics and personal care industry. The award is supported by the Society of Cosmetic Chemists and partnered and funded by Mary Kay. The winning recipients included: Joy Rutherford, fifth-year PhD student and NIH Research Fellow who works on synthesizing important compounds found in medicine and nature using the power of photochemistry and radical mediated pathways; and Imani Elaine Porter, Hampton University (second year undergraduate/biochemistry).

Mary Kay joined the UN Global Compact Target Gender Equality Accelerator as a follow up to the June 2021 UN Global Compact Gender Equality Strategy Consultation.

Gender-Responsive Procurement & Supplier Diversity


Deborah Gibbins, Mary Kay Chief Operating Officer, signed the forward to the UN Women’s Gender-responsive Procurement Advocacy Brief, titled: “Procurement’s Strategic Value. Why gender-responsive procurement makes business sense.” To inform the Advocacy Brief, UN Women engaged over 350 stakeholders in 2021, of which over 150 private sector companies were represented, and incorporated 7 case studies on companies’ procurement journeys.

Mary Kay was named 2022 Silver Champion for Supplier Diversity & Inclusion by WEConnect International in partnership with Disability:IN and the National LGBTQ Chamber of Commerce (NGLCC) for its commitment to global supplier diversity and inclusion regarding growing inclusive spend, policies and procedures—alongside Bayer, Eaton Corporation, Goldman Sachs and Marriott International.

Julia Simon, Chief Legal Officer and Chief Diversity & Inclusion Officer, spoke at the UN Women Europe and Central Asia (ECA) and KAGIDER event presenting the findings of a GRP survey conducted by IPSOS in Turkey with the support of Mary Kay to better understand the barriers women entrepreneurs face. Simon called on the private and public sectors to adopt gender-sensitive procurement strategies. KAGIDER is the Women Entrepreneurs Association of Turkey.

Virginie Naigeon-Malek, Global Head of Social Impact and Sustainability, gave the opening remarks at the virtual GRP & Investment Pilot (GRPI) launch event coordinated by UN Women ECA and KAGIDER in Turkey. The innovative training is powered by Mary Kay.

During the “Investors Pitch Finale” event organized jointly by UN Women and KAGİDER as part of the WEA initiative, 25 women from 8 countries pitched their business blueprints and plans to a jury of businesspeople and an investor panel.

At its Target Gender Equality meeting, UN Global Compact released a GRP Advocacy video produced with the support of the Women’s Entrepreneurship Accelerator and powered by Mary Kay.

Cancer Research


Dr. Lucy Gildea, Mary Kay Chief Innovation Officer, accepted the Cancer Support Community North Texas Thrive Award on behalf of the Mary Kay Ash Foundation.

The Mary Kay Ash Foundation, in collaboration with the Harold C. Simmons Comprehensive Cancer Center at UT Southwestern Medical Center in Dallas, announced another recipient of the International Postdoctoral Scholars in Cancer Research Fellowship, awarding Dr. Maria del Rosario Chica Parrado, a post-doctoral student biologist from Málaga, Spain with a research grant.

Gender-based Violence (GBV) & Domestic Violence (DV)


At the Commission on the Status of Women (CSW66), the UN Trust Fund to End Violence Against Women’s 2022 annual report on its 2021 activities recognized the Mary Kay Ash Foundation and Mary Kay Inc.’s efforts to eliminate violence against women and girls—alongside the governments of 16 countries and nine UN Women National Committees.

Mary Kay was featured in a white paper published by UN Action against Sexual Violence in Conflict Network (UN Action) and the organization, Committed to Good, on how the private sector can engage in conflict-related sexual violence (CRSV) efforts. Efforts include addressing gender inequalities and discriminatory social structures that preserve unequal gender relations, as well as activities that give back to communities in need. The UN Action against Sexual Violence in Conflict Network (UN Action), a coordinated body of 21 UN entities working to prevent and respond to conflict-related sexual violence (CRSV).

Emergency Response


In conjunction with a statement of support, Mary Kay announced a donation to the Ukraine Humanitarian Crisis Appeal of the Red Cross.

Mary Kay received the American Red Cross Corporate Partner Award for its Emergency Response to the conflict in Ukraine.

Mary Kay Ash Foundation received a Bronze Stevie award for its COVID-19 relief efforts at the 20th Annual American Business Awards.

Global Social Impact & Local Community


Mary Kay placed #91 on the Purpose Power Index. This is the third iteration of the largest study ever measuring perceptions of brand purpose, based on more than 20,500+ individual ratings amongst more than 5,500 U.S. consumers and employees, encompassing more than 200 different brands.

SUSTAINABILITY & ESG: ENRICHING LIVES TODAY FOR A SUSTAINABLE TOMORROW


Climate Change


At the Commission on the Status of Women (CSW66), WEA hosted a panel titled “Investing in Women Entrepreneurs to Tackle Climate Change.” Moderated by Elizabeth Vazquez (WEConnect International), the panel featured guest speakers from the leadership of six UN agencies. Deborah Gibbins, Mary Kay Chief Operating Officer, gave opening remarks and called on the private and public sectors to join WEA and catalyze women’s entrepreneurship.

The documentary Forest of Hope follows Doña Angelica, a 71-year old ecosystem warrior and her all-female team, from Mujeres Unidas Para La Conservacion De Laguna Sanchez, one of The Nature Conservancy’s partner organizations in Mexico. The film was officially selected for the North Dakota Environmental Rights Film Festival and the Hot Springs International Women’s Film Festival. The short film, produced by Mary Kay in partnership with The Nature Conservancy and written, directed, and produced by an all-female team, was previously named a semi-finalist in the Films for the Forest festival.

Water Stewardship


Mary Kay participated in a consultation with the governments of the Netherlands and Tajikistan to help define the role of the private sector in the Water Action Agenda and the Conference overall. The Water Action Agenda is a non-negotiated outcome document where Member States, stakeholders, private sector etc. can submit commitments which will be presented during the 2023 UN Water Conference. He will be joined by colleagues from Tajikistan as well as UN-DESA.

Mary Kay served on a panel, Making Waves: Women in Water Conservation in collaboration with The Nature Conservancy. The virtual conversation focused on women leaders from all over the world who are rising to the challenge and leading efforts to restore the health of our oceans.

Transparency & Advocacy (Self-Reporting & Updates)


Mary Kay released its 2021 Year-End Highlights Report highlighting its 58 awards and recognition honors, and its efforts in social impact and sustainability throughout the year.

On various globally recognized awareness days throughout the year Mary Kay released updates or additional information about its continued journey to be a purpose-driven brand and a sustainably-focused company committed to the future of our planet and generations to come:

International Day of Forests and World Tree Day—released a report detailing Mary Kay’s long-standing partnership with the Arbor Day Foundation.

World Wildlife Day—Through our global partnerships with The Nature Conservancy and Arbor Day Foundation, Mary Kay Inc. supports critical ecosystem conservation and restoration projects that help protect land and marine wildlife health around the world.

Solar Appreciation Day/World Energy Efficiency Day—highlighted our use of solar energy in the 80s; and since 2014, the Mary Kay world headquarters and global manufacturing facility are powered by 100 percent renewable energy.

International Day of Action for Rivers Report—Through our global partnership with the Arbor Day Foundation, Mary Kay Inc. supports critical watershed restoration projects that help protect the biodiversity health of our riparian ecosystems.

Global Recycling Day—Highlighted our commitment to reduce the amount of waste we generate and to reuse or recycle materials through strategic alignments and historical actions.

World Water Day—Water is an essential element in our manufacturing activities, as well as in our entire value chain. Reinforced our sustainability commitment to making efficient use of this increasingly precious natural resource and to limit the environmental impact of the way we consume and discharge water.

Arbor Day Foundation 50th Anniversary—Mary Kay and the Arbor Day Foundation are committed to revitalizing forests to ensure improved quality of natural resources and local environments for human and all other forms of life. Our tree planting projects contribute to the 1 trillion trees campaign launched by the World Economic Forum in January 2020 in support of the UN’s Decade of Ecosystem Restoration, which aims to restore, protect, or plant 1 trillion trees by 2030. Mary Kay was an early supporter of the campaign, pledging 1,130,000 trees on Day 1.

National Love A Tree Day Report—Highlighted our “favorite tree” located at Richard R. Rogers (R3) Manufacturing facility. The ceremonial tree was planted at the grand opening of R3 facility in Lewisville, Texas, (U.S.A.) celebrating the achievement of planting its one-millionth tree.

World Endangered Species Day—Highlighted our projects supporting critical ecosystem conservation and restoration projects that help protect endangered species around the world around the world.

World Fish Migration—Celebrated the theme for the day, “Connecting Fish, Rivers, and People” highlighting projects and raising awareness about the impact migratory fish have in creating healthy river systems.

International Day for Biological Diversity/World Biodiversity Day—Celebrated the theme for the day, “Building a shared future for all life” aimed at increasing understanding of the importance of biodiversity.

World Turtle Day—The theme for World Turtle Day was “Shellebrate” and aimed to raise awareness about their endangered status. Through our global partnership with The Nature Conservancy, Mary Kay Inc. supports sea turtle conservation projects in the Solomon Islands that help protect hawksbill turtles, a critically endangered species, through local female-led ecotourism.

World Reef Day—Highlighted our work with The Nature Conservancy supporting the restoration of reefs in Australia, Hong Kong, China the Coral Triangle and the Cakaulevu Reef.

World Environment Day—Celebrated under the theme “Only One Earth” raising awareness about environmental threats and actions needed to restore our planet. Highlighted our projects with The Nature Conservancy and Arbor Day Foundation.

World Oceans Day—Supported the theme “Revitalization: collection action for the ocean” about the impact of human actions and mobilizing people behind the work for sustainable management of the world’s oceans. Highlighted our global oceans and ocean protection projects supporting The Nature Conservancy focused on improving ocean health for nature and people.

Coral Triangle Day—The theme “Sustaining the Coral Triangle Ecosystem through Blue Economy” focused on marine environment to the livelihoods and economies of the Coral Triangle. Highlighted our work in Indonesia and working with indigenous communities to protect their traditions and economic security through protecting marine habitats.

About Mary Kay


One of the original glass ceiling breakers, Mary Kay Ash founded her beauty company 57 years ago with three goals: develop rewarding opportunities for women, offer irresistible products, and make the world a better place. That dream has blossomed into a multibillion-dollar company with millions of independent sales force members in nearly 40 countries. Mary Kay is dedicated to investing in the science behind beauty and manufacturing cutting-edge skin care, color cosmetics, nutritional supplements and fragrances. Mary Kay is committed to empowering women and their families by partnering with organizations from around the world, focusing on supporting cancer research, protecting survivors from domestic abuse, beautifying our communities, and encouraging children to follow their dreams. Mary Kay Ash’s original vision continues to shine—one lipstick at a time. Learn more at MaryKay.com.


 


View source version on businesswire.com: https://www.businesswire.com/news/home/20220728005228/en/



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Contacts

 

Mary Kay Inc. Corporate Communications

marykay.com/newsroom

972.687.5332 or media@mkcorp.com

Saturday, July 30, 2022

Tecnotree Announces the successful Go-Live of its Digital Service Provisioning Platform for Zain, Ahead of Time

 ESPOO, Finland - Tuesday, 26. July 2022 AETOSWire

(BUSINESS WIRE) -- Tecnotree, a Finnish global provider of digital transformation solutions for Communication Service Providers (CSPs) and Digital Service Providers (DSPs), announced the go-live of its Digital Service Provisioning System (DSPS), with Zain South Sudan. The successful go-live marked another global footprint for Tecnotree DSPS this year in the African market.

The solution replaced an existing provisioning system, and allows the operator to leverage the 5G Cloud Native platform to meet their current and future market requirements. The platform will also enable the operator to scale up or down rapidly in response to changes in demand. Tecnotree DSPS is a pre-integrated suite that processes business service logic towards the network, enabling a centralized system for all provisioning-related planning and task management. The product has been designed to provide rapid and highly automated activation and provisioning along with digital services.

Tecnotree DSPS platform provides a foundation for operators and Digital Service Providers to launch new services faster, with greater agility and resource efficiency. The solution makes it easier to plan and design innovative services which can be then launched with zero-touch operations. Centralization of all provisioning processes in DSPS enables high-speed service fulfilment with more assurance and high activation success rate.

“I would like to thank Tecnotree on the successful delivery of the DSPS, we trusted Tecnotree on their digital portfolio and delivery capabilities and they achieved our expectations before time!” said Wilson Lado, CTIO, Zain South Sudan.

Padma Ravichander, CEO of Tecnotree Corporation, said, “Innovation is at the heart of everything we do, which means that we’re constantly striving to provide state-of-the-art technology for our customers. Our DSPS solution is a cloud-ready provisioning platform that allows efficient management of infrastructure and high performance of services, helping our customers optimize business processes with flexible and intelligent digital service provisioning.”

About Tecnotree

Tecnotree is the only full-stack digital business management solution provider for digital service providers, with over 40 years of deep domain knowledge, proven delivery, and transformation capability across the globe. Our open-source technology-based agile products and solutions comprise the full range (order-to-cash) of business process and subscription management for telecom and other digital service providers with a pre-integrated B2B2X partner ecosystem across gaming, health, education, OTT, and more. Tecnotree products, platforms, and partners support emerging ecosystems of over 1 billion subscribers across 70+ countries. Tecnotree is listed on Nasdaq Helsinki (TEM1V). For more information, please visit www.tecnotree.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220726005561/en/

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Contacts

Padma Ravichander, CEO Tecnotree OYJ
Email: marketing@tecnotree.co

ExpensiCon, the World's Only Accounting and Fintech Festival Hosted by Expensify, Is Back in Italy For 2023

 PORTLAND, Ore - Monday, 25. July 2022 AETOSWire
The invite-only, all-expenses-paid event at Borgo Egnazia in Puglia will bring together 100 of the top accounting firms and fintech players from around the globe to kickstart the creation of an industry-changing community

(BUSINESS WIRE) -- Expensify, Inc. (Nasdaq: EXFY), a payments superapp that helps individuals and businesses around the world simplify the way they manage money across expenses, corporate cards and bills, today announced the return of ExpensiCon on May 18-22, 2023, in Puglia, Italy. An exclusive group of world-class accountants and fintech titans are invited to the Italian countryside for five days of community building, thought leadership, networking, roundtable sessions, and surprise events amongst the olive groves. Previous ExpensiCons in Bora Bora and Maui included attendees from PwC, Deloitte, BDO, CLA, Baker Tilly, and EisnerAmper, as well as fireside chats with Travis Kalanick of Uber, Zach Nelson of NetSuite, and Rod Drury of Xero.

"ExpensiCon is how we share our motto 'Live Rich, Have Fun, and Save The World' with our top partners and industry thought leaders to build a new type of community that’s laser focused on the future,” says David Barrett, founder and CEO of Expensify. “And what better place to kick things off than a five-star luxury retreat, worlds away from the distractions of everyday life? It’s the perfect environment to grow productive relationships with the most brilliant minds, and focus on solving the industry’s most pressing problems.”

The event will include a mix of keynotes, roundtable discussions, fireside chats, 1-on-1 networking opportunities and strategy sessions, and VIP events. In addition, attendees and their guests will also experience the beauty of Puglia on curated relationship-building excursions throughout the region that feature pasta making, wine tasting, yacht tours, and more.

Founder & Chief Solutions Officer of QA Business and previous ExpensiCon attendee Clayton Oates mentions, "One thing I loved about how Expensify approached ExpensiCon is that they threw out conventional wisdom about events. Rather than throwing a large-scale, content-rich event focused on short-term impact, at a boring convention center, they instead focused on laying a foundation for collaboration within and outside the accounting profession. Expensify's long-term view, balanced agenda, and ability to create magical experiences in the world's most stunning locations really contribute to the attendees getting the most out of the experience. ExpensiCon is the one event you don't want to miss."

To secure your invite, learn more at expensicon.com.

About Expensify

Expensify is a payments superapp that helps individuals and businesses around the world simplify the way they manage money. More than 12 million people use Expensify's free features, which include corporate cards, expense tracking, next-day reimbursement, invoicing, bill pay, and travel booking in one app. All free. Whether you own a small business, manage a team, or close the books for your clients, Expensify makes it easy so you have more time to focus on what really matters.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220725005172/en/

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Contacts

James Dean, press@expensify.com

Schlumberger Announces Second-Quarter 2022 Results and Raises Full-Year Outlook

 

  • Revenue of $6.8 billion increased 14% sequentially and 20% year on year
  • GAAP EPS of $0.67 increased 86% sequentially and 123% year on year
  • EPS, excluding charges and credits, of $0.50 increased 47% sequentially and 67% year on year
  • Cash flow from operations was $408 million
  • Board approved quarterly cash dividend of $0.175 per share
  • Full-year revenue outlook revised upward to at least $27 billion

(BUSINESS WIRE)--Schlumberger Limited (NYSE: SLB) today announced results for the second-quarter 2022.

Second-Quarter Results(Stated in millions, except per share amounts)
 Three Months Ended Change
 Jun. 30, 2022 Mar. 31, 2022 Jun. 30, 2021 Sequential Year-on-year
Revenue

$6,773

 

$5,962

 

$5,634

 

14%

 

20%

Income before taxes - GAAP basis

$1,152

 

$638

 

$542

 

81%

 

113%

Net income - GAAP basis

$959

 

$510

 

$431

 

88%

 

123%

Diluted EPS - GAAP basis

$0.67

 

$0.36

 

$0.30

 

86%

 

123%

       

 

 

 

Adjusted EBITDA*

$1,530

 

$1,254

 

$1,198

 

22%

 

28%

Adjusted EBITDA margin*

22.6%

 

21.0%

 

21.3%

 

157 bps

 

132 bps

Pretax segment operating income*

$1,159

 

$894

 

$807

 

30%

 

44%

Pretax segment operating margin*

17.1%

 

15.0%

 

14.3%

 

212 bps

 

279 bps

Net income, excluding charges & credits*

$715

 

$488

 

$431

 

47%

 

66%

Diluted EPS, excluding charges & credits*

$0.50

 

$0.34

 

$0.30

 

47%

 

67%

       

 

 

 

Revenue by Geography      

 

 

 

International

$5,188

 

$4,632

 

$4,511

 

12%

 

15%

North America

1,537

 

1,282

 

1,083

 

20%

 

42%

Other

48

 

48

 

40

 

n/m

 

n/m

 

$6,773

 

$5,962

 

$5,634

 

14%

 

20%

*These are non-GAAP financial measures. See sections titled "Charges & Credits", "Divisions", and "Supplemental Information" for details.
n/m = not meaningful
 (Stated in millions)
 Three Months Ended Change
 Jun. 30, 2022 Mar. 31, 2022 Jun. 30, 2021 Sequential Year-on-year
Revenue by Division         
Digital & Integration

$955

 

$857

 

$817

 

11%

 

17%

Reservoir Performance

1,333

 

1,210

 

1,117

 

10%

 

19%

Well Construction

2,686

 

2,398

 

2,110

 

12%

 

27%

Production Systems

1,893

 

1,604

 

1,681

 

18%

 

13%

Other

(94)

 

(107)

 

(91)

 

n/m

 

n/m

 

$6,773

 

$5,962

 

$5,634

 

14%

 

20%

       

 

 

 

Pretax Operating Income by Division      

 

 

 

Digital & Integration

$379

 

$292

 

$274

 

30%

 

39%

Reservoir Performance

195

 

160

 

156

 

22%

 

25%

Well Construction

470

 

388

 

272

 

21%

 

73%

Production Systems

171

 

114

 

171

 

50%

 

0%

Other

(56)

 

(60)

 

(66)

 

n/m

 

n/m

 

$1,159

 

$894

 

$807

 

30%

 

44%

       

 

 

 

Pretax Operating Margin by Division      

 

 

 

Digital & Integration

39.7%

 

34.0%

 

33.5%

 

570 bps

 

621 bps

Reservoir Performance

14.6%

 

13.2%

 

13.9%

 

143 bps

 

69 bps

Well Construction

17.5%

 

16.2%

 

12.9%

 

134 bps

 

462 bps

Production Systems

9.0%

 

7.1%

 

10.2%

 

190 bps

 

-114 bps

Other

n/m

 

n/m

 

n/m

 

n/m

 

n/m

 

17.1%

 

15.0%

 

14.3%

 

212 bps

 

279 bps

          
n/m = not meaningful

Schlumberger CEO Olivier Le Peuch commented, “The second quarter marked a significant inflection point for Schlumberger with a strong acceleration of revenue and earnings growth. Sequentially, revenue grew 14%, by more than $800 million; EPS—excluding charges and credits—increased 47%; and pretax segment operating margin expanded 212 basis points (bps). Growth was broad-based, driven by an increase in activity internationally, in North America, and across all Divisions. The quarter was also characterized by a favorable mix of exploration and offshore activity and the increasing impact of improved pricing, resulting in the largest sequential quarterly growth since 2010.

“On a year-over-year basis, revenue grew 20%; EPS—excluding charges and credits—increased 67%; and pretax segment operating margin expanded 279 bps.

Raising Full-Year Outlook

“The strength of our second-quarter outperformance highlights a firmly established growth inflection and our ability to comprehensively participate in drilling and completion activity growth globally. The multiyear upcycle continues to gain momentum with upstream activity and service pricing steadily increasing both internationally and in North America, resulting in a strengthened outlook for Schlumberger.