SLB Limited: Beat — EPS $0.64, Revenue $9.45B
Earnings BeatQ3 2026 · Pre-market
Did SLB Limited (SLB) beat earnings today?
Yes, SLB Limited (SLB) beat Wall Street analyst expectations for Q3 2026, reporting higher-than-expected EPS and higher-than-expected revenue.
Earnings Per Share+4.92% surprise
$0.64Actual
Expected: $0.61
vs. year ago -7.0%
Total Revenue+1.93% surprise
$9.45BActual
Expected: $9.27B
vs. year ago +6.0%
Released Oct 23 · 6:50 AM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $9.45B | $8.93B | +6.0 |
| Revenue detail — reported lines | |||
| └─International | $6.99B | $6.92B | +1.0 |
| └─North America | $2.40B | $1.93B | +24.0 |
| └─Other | $55.00M | $82.00M | - |
| └─Latin America | $1.75B | $1.48B | +18.0 |
| └─Europe & Africa | $2.44B | $2.43B | 0.0 |
| └─Middle East & Asia | $2.81B | $3.00B | -6.0 |
| └─Eliminations & other | $55.00M | $82.00M | - |
| └─Digital | $693.00M | $658.00M | +5.0 |
| └─Reservoir Performance | $1.63B | $1.68B | -3.0 |
| └─Well Construction | $2.89B | $2.97B | -3.0 |
| └─Production Systems | $4.00B | $3.47B | +15.0 |
| └─All Other | $544.00M | $397.00M | +37.0 |
| └─Eliminations | ($310.00M) | ($250.00M) | - |
| └─Platforms & Applications | $299.00M | $273.00M | +10.0 |
| └─Digital Operations | $163.00M | $131.00M | +24.0 |
| └─Digital Exploration | $78.00M | $80.00M | -2.0 |
| └─Professional Services | $153.00M | $174.00M | -12.0 |
| Net Income | $735.00M | $739.00M | -1.0 |
| GAAP Diluted EPS | $0.49 | $0.50 | -2.0 |
| Adj. Diluted EPS | $0.64 | $0.69 | -7.0 |
Business Highlights
- ➤Repurchased 12.9 million shares for a total purchase price of $656 million.
- ➤Board approved a quarterly cash dividend of $0.295 per share.
- ➤Signed an agreement to acquire Kelvion for approximately $3.4 billion cash.
- ➤Completed acquisition of S&P Global Energy’s geoscience and petroleum engineering software portfolio.
- ➤Won four integrated well construction contracts from Aramco covering more than 450 wells.
- ➤SLB OneSubsea won an ExxonMobil Mozambique subsea-production-systems contract for Rovuma LNG.
- ➤Signed a 15-year DrillPlan well-planning agreement with TotalEnergies.
- ➤Chevron joined SLB and TotalEnergies’ digital subsurface technology co-development collaboration.
- ➤Launched the Amapá 3D multiclient seismic survey with Shearwater GeoServices.
- ➤Established a Canadian facility to support Meta modular data-center infrastructure delivery.
- ➤Deployed production-chemistry optimization across nearly 1,400 Permian Basin wells.
- ➤Completed Asia’s first fully autonomous geosteering operation offshore Malaysia.
Management Commentary
Olivier Le Peuch, Chief Executive Officer
“SLB delivered solid third-quarter results with all regions growing sequentially — led by a gradual recovery in the Middle East, growth in North America land and broadening international activity in deepwater offshore basins.”
Olivier Le Peuch, Chief Executive Officer
“In the Middle East, our business grew 13% sequentially despite late-quarter disruptions. Outside the region, growth was supported by higher activity in U.S. land, highlighted by ChampionX achieving its highest quarterly revenue since the acquisition. Strong SLB OneSubsea™ activity further supported growth with a steady flow of new contract awards in the international markets which increased backlog and enhanced revenue visibility into 2027.”
Olivier Le Peuch, Chief Executive Officer
“Production Systems, Well Construction and Reservoir Performance revenue grew sequentially, reflecting increased activity across the exploration-to-production life cycle.”
Olivier Le Peuch, Chief Executive Officer
“Production Systems was supported by higher SLB OneSubsea activity and increased sales of production chemicals and artificial lift. This demonstrates the value of our production offering as customers increasingly prioritize production optimization, improved recovery and extended asset life.”
Olivier Le Peuch, Chief Executive Officer
“Well Construction and Reservoir Performance benefited from the rebound in the Middle East and increased international offshore activity, mainly in Europe & Africa, Latin America and Asia. Growth was driven by increased drilling fluids sales, higher drilling measurements revenue, and heightened evaluation and intervention activity as operators ramp up development efforts to restore production and bring new capacity online.”
Olivier Le Peuch, Chief Executive Officer
“These results reflect broad-based sequential revenue growth across each of our geographical areas and Core divisions as the upcycle gains momentum.”
Olivier Le Peuch, Chief Executive Officer
“Our Data Center Solutions business continued to accelerate, with revenue increasing 23% sequentially, driven by growing demand, a broadening scope of services and geographic expansion into Asia.”
Olivier Le Peuch, Chief Executive Officer
“AI is driving unprecedented investment in data center infrastructure, and customers are looking for partners who can deploy quickly, reliably and at scale. Our modular approach is meeting this need today, and the previously announced acquisition of Kelvion will further strengthen our technology portfolio and advance our ability to deliver more integrated solutions for customers.”
Olivier Le Peuch, Chief Executive Officer
“Overall, we continue to strengthen our position as an industrial technology partner to the data center industry and to expand our participation in this rapidly growing market.”
Olivier Le Peuch, Chief Executive Officer
“Our view of supportive market fundamentals remains firmly intact. Energy security and supply shocks continue to drive a quest for international supply diversification, reserve replacement and sustained production — driving a distinct upcycle, despite near-term uncertainty in the Middle East.”
Olivier Le Peuch, Chief Executive Officer
“Our international outlook continues to strengthen, driven by deepwater momentum across Latin America, Europe, Sub-Saharan Africa and Asia, underscored by recent SLB OneSubsea contract awards. Furthermore, international diversification is accelerating as major U.S. shale operators expand abroad and partner with national oil companies across global basins.”
Olivier Le Peuch, Chief Executive Officer
“Combined with significant activity increases in Venezuela and expanding momentum across our Core, Digital and Data Center Solutions businesses, we see a very compelling outlook for 2027, with further upside as Middle East activity recovers.”