SLB reported Q3 2026 revenue of $9.45B (+6% YoY, +5% sequentially) and GAAP EPS of $0.49 (-2% YoY, -6% sequentially), but EPS excluding charges & credits of $0.64 beat the $0.61 consensus by 4.9%. Revenue beat the $9.27B consensus by 1.9%. The headline GAAP EPS decline was driven by a $187M pension settlement charge. Core business trends were mixed: revenue grew 5% YoY on a reported basis (2% ex-ChampionX), but pretax segment operating income fell 3% YoY and margins contracted 153 bps. Strong sequential growth in the Middle East (+13% QoQ) and Data Center Solutions (+23% QoQ) were positives, offset by lingering Middle East disruption and margin compression.
Price Chart
Executive Summary
SLB reported Q3 2026 revenue of $9.45B (+6% YoY, +5% sequentially) and GAAP EPS of $0.49 (-2% YoY, -6% sequentially), but EPS excluding charges & credits of $0.64 beat the $0.61 consensus by 4.9%. Revenue beat the $9.27B consensus by 1.9%. The headline GAAP EPS decline was driven by a $187M pension settlement charge. Core business trends were mixed: revenue grew 5% YoY on a reported basis (2% ex-ChampionX), but pretax segment operating income fell 3% YoY and margins contracted 153 bps. Strong sequential growth in the Middle East (+13% QoQ) and Data Center Solutions (+23% QoQ) were positives, offset by lingering Middle East disruption and margin compression.
Key Facts
- Revenue $9.45B (+5% QoQ, +6% YoY) beat consensus of $9.27B by 1.9%
- GAAP EPS $0.49 (-6% QoQ, -2% YoY) — includes $187M pension settlement charge ($0.12/share)
- EPS ex-charges & credits $0.64 (+16% QoQ, -7% YoY) beat consensus of $0.61 by 4.9%
- Adjusted EBITDA $2.07B (+9% QoQ, flat YoY); margin 21.9% (+71 bps QoQ, -121 bps YoY)
- Pretax segment operating income $1.58B (+12% QoQ, -3% YoY); margin 16.7% (+104 bps QoQ, -153 bps YoY)
- Middle East & Asia revenue $2.81B (+9% QoQ, -6% YoY) — Middle East grew 13% QoQ on recovery
- Data Center Solutions revenue $230M (+23% QoQ, +76% YoY); on track to exceed $1B annualized run-rate by year-end
- Digital ARR $1.04B (+13% YoY); Digital revenue $693M (-1% QoQ, +5% YoY)
- Operating cash flow $1.51B; free cash flow $828M
- Repurchased 12.9M shares for $656M in Q3; $1.76B YTD
- Signed agreement to acquire Kelvion for ~$3.4B cash + $0.7B debt assumed, expected to close H1 2027
- Completed acquisition of S&P Global Energy's software portfolio on Sep 1, 2026
Financial Impact
Revenue beat consensus by ~$180M; EPS ex-charges EPS beat consensus by ~$0.03; GAAP EPS missed consensus by ~$0.0%
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-429435 |
| Document: d151271d8k.htm | 0001193125-26-429435 |
| Document: 0001193125-26-429435-index-headers.html | 0001193125-26-429435 |
| Document: 0001193125-26-429435-index.html | 0001193125-26-429435 |
| Document: 0001193125-26-429435.txt | 0001193125-26-429435 |
| 8-K Data (Synthetic) | 0001193125-26-429435 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | 8-K | $49.70 | awaiting T+20 | — | $53.06 (+6.76%) |
Oct 20, 2026 5d ago | Institutional Cluster | $51.10 | awaiting T+20 | — | $53.06 (+3.84%) |
Oct 13, 2026 12d ago | 3 | $48.77 | awaiting T+20 | — | $53.06 (+8.80%) |
Oct 6, 2026 19d ago | 8-K | $47.96 | awaiting T+20 | — | $53.06 (+10.63%) |
Aug 31, 2026 8w ago | 8-K | $60.10 $49.87 | ▼ −17.02% | ▼ −16.83% | $53.06 (−11.71%) |
Jul 24, 2026 13w ago | 8-K | $52.42 $53.85 | ▲ +2.72% | ▼ −0.90% | $53.06 (+1.22%) |
Jun 10, 2026 19w ago | 8-K | $55.51 $47.24 | ▼ −14.90% | ▼ −18.52% | $53.06 (−4.41%) |
May 29, 2026 21w ago | S-3ASR | $54.27 $46.38 | ▼ −14.53% | ▼ −12.74% | $53.06 (−2.22%) |
Apr 29, 2026 25w ago | Insider Cluster | $56.88 $54.55 | ▼ −4.10% | ▼ −9.36% | $53.06 (−6.72%) |
Apr 24, 2026 26w ago | 8-K | $56.15 $57.25 | ▼ −1.96% | ▲ +2.06% | $53.06 (+5.50%) |
US Market Status
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