Quarterly ResultApr 29, 2026, 11:51 AM
SLB Q1 Revenue +3% to $8.72B; Net Income $752M, EPS $0.50
AI Summary
SLB reported a 3% year-on-year revenue increase to $8.72 billion for Q1 2026, primarily driven by the ChampionX acquisition. However, net income attributable to SLB decreased by 5.6% to $752 million, and diluted EPS fell by 13.8% to $0.50. The company faced operational disruptions in the Middle East, impacting Well Construction and Reservoir Performance segments, but anticipates a broad-based recovery in upstream markets in 2027 and 2028.
Key Highlights
- Total Revenue increased 3% year-on-year to $8.72 billion in Q1 2026.
- Net income attributable to SLB decreased 5.6% to $752 million.
- Diluted income per share of SLB was $0.50, down from $0.58 in Q1 2025.
- Production Systems revenue rose 23% to $3.51 billion, boosted by ChampionX acquisition.
- Well Construction revenue decreased 6% to $2.80 billion due to Middle East conflict.
- North America revenue increased 26% to $2.17 billion.
- Middle East & Asia revenue decreased 10.4% to $2.69 billion.
- Total backlog was $5.9 billion at March 31, 2026.