SLB Beats on Q3 Revenue as Data-Center Unit Jumps 23% and Middle East Recovers
SLB sits 53% above its 52-week low of $34.65.
Summary
SLB beat on both lines for Q3: revenue rose 5.8% to $9.45 billion and adjusted EPS came in at 64 cents versus the 62 cents analysts expected. GAAP profit slipped to $735 million, or 49 cents a share, from $739 million a year earlier on pension and merger costs. The growth story is shifting away from pure oilfield services — data-center solutions revenue jumped 23% sequentially and the Middle East grew 13% as activity recovered, while North America revenue rose 24% to $2.4 billion. Management guided 2027 global oilfield-services activity to mid-single-digit growth, assuming Middle East activity holds at second-half 2026 levels and regional tensions don't escalate. Shares are up 6.6% at $52.84 and more than 31% year to date. Note the article pegs the Kelvion deal at $4.1 billion versus the roughly $3.4 billion cash price reported at announcement — worth clarifying on the call.
At the time of this announcement, SLB was trading at $53.08 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $78.8B. The 52-week trading range was $34.65 to $60.46. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.