SLB Q2 2026: Adjusted EPS $0.55 Beats Consensus; Data Center Solutions Revenue Surges 63%
SLB sits 54% above its 52-week low of $31.64.
Summary
SLB's Q2 2026 adjusted EPS of $0.55 beat estimates, with revenue up 3% sequentially to $8.97 billion. Data Center Solutions revenue surged 63% year-on-year, and the company repurchased $648 million in shares.
Key Events · Earnings and Guidance · SLB
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Q2 Earnings Beat
Adjusted EPS of $0.55 exceeded the $0.51 consensus. Revenue of $8.97 billion grew 3% sequentially and 5% year-on-year, with adjusted EBITDA of $1.90 billion up 7% sequentially.
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Data Center Solutions Growth
Data Center Solutions revenue grew 63% year-on-year in H1 2026 to $327 million. The business is on track to exceed a $1 billion annualized revenue run rate by year-end 2026, with a target of $2 billion by end of 2027.
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Shareholder Returns
SLB repurchased 12 million shares for $648 million during the quarter and declared a quarterly cash dividend of $0.295 per share, payable October 8, 2026.
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Middle East Impact
Revenue in the Middle East declined 13% sequentially due to conflict-related disruptions, but this was more than offset by growth in other regions. A full recovery remains uncertain and dependent on a durable resolution.
Analysis · SLB · Energy & Transportation
SLB delivered a solid quarter with adjusted EPS of $0.55, beating the $0.51 consensus, driven by broad-based international growth that offset Middle East disruptions. Revenue rose 3% sequentially to $8.97 billion, and adjusted EBITDA margin expanded 83 bps to 21.2%. The Data Center Solutions business is a standout, with H1 revenue up 63% year-on-year and on track to exceed a $1 billion annualized run rate by year-end. The company also returned $648 million to shareholders via buybacks and declared a $0.295 dividend. While year-on-year earnings are down due to the Middle East conflict and the ChampionX acquisition, the sequential improvement and growth in digital and production systems signal resilience and a strong foundation for 2027.
At the time of this filing, SLB was trading at $48.80 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $70.6B. The 52-week trading range was $31.64 to $58.82. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.