SLB Announces Second-Quarter 2026 Results
SLB (NYSE: SLB) today announced results for the second-quarter 2026. Second-Quarter Results (Stated in millions, except per share amounts) Three Months Ended Change Jun. 30,2026 M...
- Revenue of $8.97 billion increased 3% sequentially and 5% year on year
- GAAP EPS of $0.52 increased 4% sequentially and decreased 30% year on year
- EPS, excluding charges and credits, of $0.55 increased 6% sequentially and decreased 26% year on year
- Net income attributable to SLB of $786 million increased 5% sequentially and decreased 22% year on year
- Adjusted EBITDA of $1.90 billion increased 7% sequentially and decreased 7% year on year
- Cash flow from operations was $1.36 billion and free cash flow was $716 million
- Board approved quarterly cash dividend of $0.295 per share
LONDON: SLB (NYSE: SLB) today announced results for the second-quarter 2026.
| Second-Quarter Results | |||||||||
| (Stated in millions, except per share amounts) | |||||||||
| Three Months Ended | Change | ||||||||
| Jun. 30, 2026 | Mar. 31, 2026 | Jun. 30, 2025 | Sequential | Year-on-year | |||||
| Revenue | $8,972 |
| $8,721 |
| $8,546 | 3% |
| 5% | |
| Income before taxes - GAAP basis | $1,018 |
| $956 |
| $1,285 | 6% |
| -21% | |
| Income before taxes margin - GAAP basis | 11.3% |
| 11.0% |
| 15.0% | 38 bps |
| -369 bps | |
| Net income attributable to SLB - GAAP basis | $786 |
| $752 |
| $1,014 | 5% |
| -22% | |
| Diluted EPS - GAAP basis | $0.52 |
| $0.50 |
| $0.74 | 4% |
| -30% | |
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| Adjusted EBITDA* | $1,899 |
| $1,773 |
| $2,051 | 7% |
| -7% | |
| Adjusted EBITDA margin* | 21.2% |
| 20.3% |
| 24.0% | 83 bps |
| -284 bps | |
| Pretax segment operating income* | $1,404 |
| $1,321 |
| $1,584 | 6% |
| -11% | |
| Pretax segment operating margin* | 15.6% |
| 15.2% |
| 18.5% | 49 bps |
| -289 bps | |
| Net income attributable to SLB, excluding charges & credits* | $833 |
| $783 |
| $1,016 | 6% |
| -18% | |
| Diluted EPS, excluding charges & credits* | $0.55 |
| $0.52 |
| $0.74 | 6% |
| -26% | |
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| Revenue by Geography |
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| International | $6,671 |
| $6,471 |
| $6,847 | 3% |
| -3% | |
| North America | 2,244 |
| 2,167 |
| 1,655 | 4% |
| 36% | |
| Other | 57 |
| 83 |
| 44 | n/m |
| n/m | |
$8,972 |
| $8,721 |
| $8,546 | 3% |
| 5% | ||
| SLB acquired ChampionX during the third quarter of 2025. The acquired ChampionX businesses contributed $870 million of revenue, $207 million of adjusted EBITDA and $158 million of pretax segment operating income in the second quarter of 2026. Excluding the impact of this acquisition, SLB's second-quarter 2026 global revenue decreased 5% year on year; international second-quarter 2026 revenue decreased 6% year on year; and North America second-quarter 2026 revenue decreased 1% year on year. | |||||||||
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| *These are non-GAAP financial measures. See sections titled "Charges & Credits", "Divisions" and "Supplementary Information" for details. | |||||||||
| n/m = not meaningful | |||||||||
(Stated in millions) | |||||||||
| Three Months Ended | Change | ||||||||
| Jun. 30, 2026 | Mar. 31, 2026 | Jun. 30, 2025 | Sequential | Year-on-year | |||||
| Revenue by Division | |||||||||
| Digital | $697 | $640 | $591 | 9% |
| 18% | |||
| Reservoir Performance | 1,556 | 1,594 | 1,691 | -2% |
| -8% | |||
| Well Construction | 2,742 | 2,797 | 2,963 | -2% |
| -7% | |||
| Production Systems | 3,771 | 3,508 | 2,932 | 7% |
| 29% | |||
| All Other | 505 | 443 | 583 | 14% |
| -13% | |||
| Eliminations | (299) | (261) | (214) | n/m |
| n/m | |||
$8,972 | $8,721 | $8,546 | 3% |
| 5% | ||||
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| Pretax segment operating income |
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| Digital | $194 | $134 | $153 | 44% |
| 27% | |||
| Reservoir Performance | 232 | 257 | 314 | -10% |
| -26% | |||
| Well Construction | 417 | 424 | 551 | -2% |
| -24% | |||
| Production Systems | 586 | 497 | 491 | 18% |
| 19% | |||
| All Other | 142 | 113 | 155 | 26% |
| -8% | |||
| Eliminations | (167) | (104) | (80) | n/m |
| n/m | |||
$1,404 | $1,321 | $1,584 | 6% |
| -11% | ||||
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| Pretax segment operating margin |
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| Digital | 27.8% | 20.9% | 25.9% | 683 bps |
| 187 bps | |||
| Reservoir Performance | 14.9% | 16.1% | 18.6% | -121 bps |
| -370 bps | |||
| Well Construction | 15.2% | 15.2% | 18.6% | 6 bps |
| -338 bps | |||
| Production Systems | 15.5% | 14.2% | 16.7% | 138 bps |
| -120 bps | |||
| All Other | 28.2% | 25.5% | 26.7% | 267 bps |
| 151 bps | |||
| Eliminations | n/m | n/m | n/m | n/m |
| n/m | |||
15.6% | 15.2% | 18.5% | 49 bps |
| -289 bps | ||||
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| Adjusted EBITDA |
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| Digital | $242 | $167 | $186 | 45% |
| 30% | |||
| Reservoir Performance | 349 | 369 | 421 | -5% |
| -17% | |||
| Well Construction | 578 | 584 | 720 | -1% |
| -20% | |||
| Production Systems | 738 | 648 | 582 | 14% |
| 27% | |||
| All Other | 227 | 197 | 275 | 15% |
| -17% | |||
| Eliminations | (101) | (37) | (10) | n/m |
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