SLB beats Q3 2026 estimates for the fourth quarter in a row

A fourth straight quarter of beating expectations puts adjusted earnings per share at $0.64 for the third quarter of 2026, with revenue growing sequentially across every geographic region and core division.

Data Center Solutions is the part investors cannot ignore, with revenue rising 76% year on year as the company expands thermal and power infrastructure services for AI-driven data center buildouts into Asia. Production Systems and digital recurring revenue both expanded as well.

The profit picture needs a second look: GAAP earnings per share of $0.49 trailed the adjusted $0.64 figure, weighed down by a non-cash pension settlement charge and merger and integration costs. Operating income rose nearly 20% year on year, while free cash flow declined and net debt increased.

North America and Latin America expanded while Middle East and Asia revenue slipped 6% year on year after conflict-related disruptions late in the quarter, and management is pointing past it. CEO Olivier Le Peuch said the company sees a very compelling outlook for 2027, with further upside as Middle East activity recovers. Aramco awarded four integrated well construction contracts covering more than 450 wells.

The agreed acquisition of Kelvion for approximately $3.4 billion in cash, expected to close in the first half of 2027, deepens thermal management capabilities inside the fastest-growing business. Share repurchases, a declared quarterly dividend payable in January 2027 and capital investment guidance round out the quarter.