Monitor the next earnings call for commentary on Middle East recovery and the integration of ChampionX, as the sequential decline in Digital revenue and margin pressure are key near-term risks despite strong growth in new business segments.
Price Chart
Executive Summary
SLB reported Q1 2026 revenue of $8.72B (+3% YoY) but GAAP EPS of $0.50 (-14% YoY), missing consensus. Despite ChampionX-driven production systems growth, geopolitical disruptions in the Middle East pressured margins. Digital ARR grew 15% YoY and Data Center Solutions surged 45% YoY. The company maintained its $4B+ 2026 shareholder return commitment.
Key Financial Metrics
Key Facts
- Q1 2026 GAAP EPS was $0.50, missing consensus of $0.52 by -14% YoY.
- Revenue of $8.72B increased 3% YoY, primarily driven by the ChampionX acquisition.
- Adjusted EBITDA of $1.77B decreased 12% YoY, with margins contracting 346 bps.
- Geopolitical disruptions in the Middle East negatively impacted Well Construction and Reservoir Performance segments.
- Digital ARR reached $1.02B, a 15% YoY increase, and Data Center Solutions revenue grew 45% YoY.
- The company maintained its commitment to return over $4B to shareholders in 2026.
Financial Impact
Revenue: $8.72B (+3% YoY), GAAP EPS: $0.50 (-14% YoY), Adjusted EBITDA: $1.77B (-12% YoY)
Risk Factors
- Geopolitical disruptions in the Middle East continue to pose a significant risk to operations and financial performance.
- Sequential decline in Digital segment revenue and margins may indicate a slowdown in a key growth driver.
- Margin pressure across core segments could persist if geopolitical issues are not resolved quickly.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-174940 |
| Document: d111579d8k.htm | 0001193125-26-174940 |
| Document: 0001193125-26-174940-index-headers.html | 0001193125-26-174940 |
| Document: 0001193125-26-174940-index.html | 0001193125-26-174940 |
| Document: 0001193125-26-174940.txt | 0001193125-26-174940 |
| 8-K Data (Synthetic) | 0001193125-26-174940 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 31, 2026 4w ago | 8-K | $60.10 $49.87 | ▼ −17.02% | ▼ −16.83% | $49.08 (−18.34%) |
Jul 24, 2026 10w ago | 8-K | $52.42 $53.85 | ▲ +2.72% | ▼ −0.90% | $49.08 (−6.38%) |
Jun 10, 2026 16w ago | 8-K | $55.51 $47.24 | ▼ −14.90% | ▼ −18.52% | $49.08 (−11.59%) |
May 29, 2026 17w ago | S-3ASR | $54.27 $46.38 | ▼ −14.53% | ▼ −12.74% | $49.08 (−9.57%) |
Apr 29, 2026 22w ago | Insider Cluster | $55.68 $56.50 | ▲ +1.47% | ▼ −3.99% | $49.08 (−11.86%) |
Apr 24, 2026 23w ago | 8-K | $56.15 $57.25 | ▼ −1.96% | ▲ +2.06% | $49.08 (+12.60%) |
Mar 25, 2026 27w ago | Insider Cluster | $51.90 $54.77 | ▲ +5.53% | ▼ −2.33% | $49.08 (−5.44%) |
Feb 28, 2026 30w ago | Institutional Cluster | $51.24 $51.53 | ▲ +0.57% | ▲ +8.51% | $49.08 (−4.22%) |
Feb 26, 2026 31w ago | DEFA14A | $51.33 $53.50 | ▲ +4.23% | ▲ +11.79% | $49.08 (−4.39%) |
US Market Status
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