Schlumberger (SLB) Q1 2026

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Earnings

SLB Limited posted a narrow but meaningful beat in its first quarter of 2026, delivering earnings per share of $0.52 against a consensus estimate of $0.52, while revenue of $8.72 billion edged past the $8.66 billion expectation and grew 2.7% year on … Read more SLB Limited posted a narrow but meaningful beat in its first quarter of 2026, delivering earnings per share of $0.52 against a consensus estimate of $0.52, while revenue of $8.72 billion edged past the $8.66 billion expectation and grew 2.7% year on year, even as CEO Olivier Le Peuch acknowledged a "challenging start to the year." The headline figures masked significant underlying stress: organic revenue, stripped of the ChampionX acquisition completed in Q3 2025, declined 7% year on year, as force majeure declarations in Qatar, production shut-ins in Iraq, and security-related demobilizations compressed activity across the Middle East and pushed the region's revenue down 13% to $2.69 billion. ChampionX proved the critical counterweight, contributing $838 million in revenue and anchoring Production Systems to a 23% reported gain. Digital revenue grew 9% to $640 million, with SLB's expanding AI partnerships in energy networks adding longer-term texture to that momentum. Management expects a broad-based upstream recovery in 2027 and 2028, and remains committed to returning more than $4 billion to shareholders this year.