SLB Announces Third-Quarter 2026 Results
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
EPS, excluding charges and credits, of $0.64 increased 16% sequentially and decreased 7% year on year
Net income attributable to SLB of $735 million decreased 6% sequentially and 1% year on year
Adjusted EBITDA of $2.07 billion increased 9% sequentially and was essentially flat year on year
Cash flow from operations was $1.51 billion and free cash flow was $828 million
Board approved quarterly cash dividend of $0.295 per share
HOUSTON, October 23, 2026--SLB (NYSE: SLB) today announced results for the third-quarter 2026.
Third-Quarter Results
| (Stated in millions, except per share amounts) | |||||||||
| Three Months Ended | Change | ||||||||
| Sept. 30, | Jun. 30, | Sept. 30, | Sequential | Year-on-year | |||||
| Revenue | $9,449 | $8,972 | $8,928 | 5% | 6% | ||||
| Income before taxes - GAAP basis | $1,019 | $1,018 | $1,000 | 0% | 2% | ||||
| Income before taxes margin - GAAP basis | 10.8% | 11.4% | 11.2% | -57 bps | -42 bps | ||||
| Net income attributable to SLB - GAAP basis | $735 | $786 | $739 | -6% | -1% | ||||
| Diluted EPS - GAAP basis | $0.49 | $0.52 | $0.50 | -6% | -2% | ||||
| Adjusted EBITDA* | $2,067 | $1,899 | $2,061 | 9% | - | ||||
| Adjusted EBITDA margin* | 21.9% | 21.2% | 23.1% | 71 bps | -121 bps | ||||
| Pretax segment operating income* | $1,576 | $1,404 | $1,626 | 12% | -3% | ||||
| Pretax segment operating margin* | 16.7% | 15.6% | 18.2% | 104 bps | -153 bps | ||||
| Net income attributable to SLB, excluding charges & credits* | $962 | $833 | $1,027 | 16% | -6% | ||||
| Diluted EPS, excluding charges & credits* | $0.64 | $0.55 | $0.69 | 16% | -7% | ||||
| Revenue by Geography | |||||||||
| International | $6,993 | $6,671 | $6,916 | 5% | 1% | ||||
| North America | 2,401 | 2,244 | 1,930 | 7% | 24% | ||||
| Other | 55 | 57 | 82 | n/m | n/m | ||||
| $9,449 | $8,972 | $8,928 | 5% | 6% | |||||
| SLB acquired ChampionX during the third quarter of 2025. The acquired ChampionX businesses contributed $956 million of revenue, $239 million of adjusted EBITDA and $190 million of pretax segment operating income in the third quarter of 2026. Third-quarter 2025 results reflect two months of activity from ChampionX businesses, which contributed $579 million of revenue, $139 million of adjusted EBITDA and $108 million of pretax segment operating income. | |||||||||
| Excluding the impact of this acquisition, SLB's third-quarter 2026 global revenue increased 2% year on year; international third-quarter 2026 revenue was flat year on year; and North America third-quarter 2026 revenue increased 13% year on year. | |||||||||
| *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 | ||||||||
| Sept. 30, | Jun. 30, | Sept. 30, | Sequential | Year-on-year | |||||
| Revenue by Division | |||||||||
| Digital | $693 | $697 | $658 | -1% | 5% | ||||
| Reservoir Performance | 1,634 | 1,556 | 1,682 | 5% | -3% | ||||
| Well Construction | 2,888 | 2,742 | 2,967 | 5% | -3% | ||||
| Production Systems | 4,000 | 3,771 | 3,474 | 6% | 15% | ||||
| All Other | 544 | 505 | 397 | 8% | 37% | ||||
| Eliminations | (310) | (299) | (250) | n/m | n/m | ||||
| $9,449 | $8,972 | $8,928 | 5% | 6% | |||||
| Pretax segment operating income | |||||||||
| Digital | $194 | $194 | $187 | - | 4% | ||||
| Reservoir Performance | 266 | 232 | 312 | 15% | -15% | ||||
| Well Construction | 475 | 417 | 558 | 14% | -15% | ||||
| Production Systems | 646 | 586 | 559 | 10% | 16% | ||||
| All Other | 136 | 142 | 96 | -4% | 42% | ||||
| Eliminations | (141) | (167) | (86) | n/m | n/m | ||||
| $1,576 | $1,404 | $1,626 | 12% | -3% | |||||
| Pretax segment operating margin | |||||||||
| Digital | 28.0% | 27.8% | 28.4% | 27 bps | -36 bps | ||||
| Reservoir Performance | 16.3% | 14.9% | 18.5% | 140 bps | -223 bps | ||||
| Well Construction | 16.4% | 15.2% | 18.8% | 122 bps | -239 bps | ||||
| Production Systems | 16.1% | 15.5% | 16.1% | 60 bps | 6 bps | ||||
| All Other | 25.0% | 28.2% | 24.2% | -319 bps | 77 bps | ||||
| Eliminations | n/m | n/m | n/m | n/m | n/m | ||||
| 16.7% | 15.6% | 18.2% | 104 bps | -153 bps | |||||
| Adjusted EBITDA | |||||||||
| Digital | $228 | $242 | $215 | -6% | 6% | ||||
| Reservoir Performance | 384 | 349 | 422 | 10% | -9% | ||||
| Well Construction | 632 | 578 | 728 | 9% | -13% | ||||
| Production Systems | 800 | 738 | 690 | 8% | 16% | ||||
| All Other | 226 | 227 | 158 | -1% | 42% | ||||
| Eliminations | (71) | (101) | (13) | n/m | n/m | ||||
| $2,199 | $2,033 | $2,200 | 8% | 0% | |||||
| Corporate & other | (132) | (134) | (139) | n/m | n/m | ||||
| $2,067 | $1,899 | $2,061 | 9% | 0% | |||||
| Adjusted EBITDA margin | |||||||||
| Digital | 32.9% | 34.7% | 32.7% | -175 bps | 26 bps | ||||
| Reservoir Performance | 23.5% | 22.4% | 25.1% | 110 bps | -159 bps | ||||
| Well Construction | 21.9% | 21.1% | 24.5% | 80 bps | -266 bps | ||||
| Production Systems | 20.0% | 19.6% | 19.9% | 42 bps | 14 bps | ||||
| All Other | 41.5% | 44.9% | 39.9% | -347 bps | 155 bps | ||||
| Eliminations | n/m | n/m | n/m | n/m | n/m | ||||
| 23.3% | 22.7% | 24.6% | 61 bps | -138 bps | |||||
| Corporate & other | n/m | n/m | n/m | n/m | n/m | ||||
| 21.9% | 21.2% | 23.1% | 71 bps | -121 bps | |||||
| ChampionX contributed $35 million of Digital revenue and $950 million of Production Systems revenue in the third quarter of 2026. Third-quarter 2025 results reflect two months of activity from ChampionX, which contributed $20 million of Digital revenue and $575 million of Production Systems revenue. Excluding the impact of this acquisition, Digital third-quarter 2026 revenue increased 3% year on year while Production Systems revenue increased 5% year on year. | |||||||||
| n/m = not meaningful |