SLB Announces Third-Quarter 2026 Results
Business Wire•23/10/2026•06:50 ET
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Key Highlights
- ➤Revenue $9.45 billion increased 5% sequentially and 6% year on year
- ➤Adjusted EPS $0.64 increased 16% sequentially, but decreased 7% year on year
- ➤Free cash flow reached $828 million; operating cash flow totaled $1.51 billion
- ➤Kelvion acquisition costs approximately $3.4 billion cash plus $0.7 billion debt
- ➤Data Center Solutions revenue increased 23% sequentially, accelerating as an independent growth driver
Expert Statements
Olivier Le Peuch, Chief Executive Officer of SLB
“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 of SLB
“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 of SLB
“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 of SLB
“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 of SLB
“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 of SLB
“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 of SLB
“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 of SLB
“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 of SLB
“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”
Revenue of $9.45 billion increased 5% sequentially and 6% year on year
GAAP EPS of $0.49 decreased 6% sequentially and 2% year on year
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