SLB Q2 Revenue Hits $8.97B, Up 5% YoY — Net Income Falls 22%

SLB reported second-quarter 2026 revenue of $8.97 billion, up 5% year-over-year, though foreign media reported the figure fell short of market expectations (SEC 8-K filing, July 24, 2026).

Q2 Results at a Glance

SLB's second-quarter revenue and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) both rose from the prior quarter. However, excluding revenue from last year's acquisition of ChampionX, SLB's organic revenue actually fell 5% year-over-year. Net income and earnings per share (EPS) declined year-over-year but rose from the prior quarter.

• Revenue: $8.97 billion, +5% YoY, +3% QoQ
• GAAP EPS: $0.52, -30% YoY, +4% QoQ
• Adjusted EPS (excluding one-time charges): $0.55, -26% YoY, +6% QoQ
• Net income: $786 million, -22% YoY, +5% QoQ
• Adjusted EBITDA: $1.9 billion, -7% YoY, +7% QoQ
• Operating cash flow of $1.36 billion, free cash flow of $716 million
• Board approved a quarterly dividend of $0.295 per share

Outlook for Next Quarter

SLB did not provide specific revenue or earnings guidance for the next quarter. However, the company said its Data Center Solutions business — which supplies power and cooling equipment to data centers — is expected to exceed $1 billion in annualized revenue this year and surpass $2 billion by the end of 2027. CEO Olivier Le Peuch said, 'Excluding disruptions in the Middle East, every business line grew revenue year-over-year this quarter,' adding that 'the investment environment is turning more favorable as customers increasingly focus on energy security and supply chain diversification.'

Market Reaction

Following the earnings release, Barron's reported that SLB shares fell, citing revenue that missed market expectations and a slowdown in U.S. drilling activity as headwinds. The exact magnitude of the decline and consensus estimates were not disclosed. Upstream Online reported that growth in international markets offset weaker performance in North America.

Segment Breakdown

• Production Systems: $3.771 billion, +29% YoY, +7% QoQ
• Well Construction: $2.742 billion, -7% YoY
• Reservoir Performance: $1.556 billion, -8% YoY
• Digital: $697 million, +18% YoY, +9% QoQ
• Other: $505 million, -13% YoY

This article was automatically generated based on the original SEC 8-K filing and foreign media reports, with the goal of delivering key data promptly after release. Readers are advised to review the company's official filing before making trading decisions. Prices reflect the time of writing and may differ from current levels.