SLB Revenue Rises 6% as Adjusted Profit Per Share Falls

SLB reported third-quarter revenue of $9.45 billion on Friday, 23 October, up 6% from a year earlier. The energy services and technology group pointed to recovering Middle East activity and growth in North America and offshore markets.

Higher sales did not translate into higher earnings per share. Profit excluding charges and credits was 64 cents a share, down 7% year on year, although 16% above the second quarter. GAAP earnings were 49 cents a share, compared with 50 cents a year earlier.

The ChampionX acquisition boosted the sales comparison. Its businesses contributed $956 million in quarterly revenue, versus $579 million from the two months included a year earlier. Excluding the acquisition's impact, SLB said global revenue grew 2% year on year.

Chief executive Olivier Le Peuch said Middle East business grew 13% from the previous quarter despite late-quarter disruptions. The regional improvement helped support sequential growth across its core oilfield businesses.

SLB generated $1.51 billion in cash from operations and $828 million in free cash flow. The board also approved a quarterly cash dividend of 29.5 cents a share.

Source: SLB third-quarter 2026 results.

Archival photo: Schlumberger facility in Vechta, Germany, 2019. Gerd Fahrenhorst / Wikimedia Commons, CC BY 4.0. Cropped to 16:9 by Morval Universal.