SLB Q2 Revenue Hits $8.97B, CEO Adopts 10b5-1 Plan to Sell Up to 435K Shares
SLB sits 57% above its 52-week low of $31.64 on light trading volume (0.2× avg).
Summary
SLB posted Q2 revenue of $8.97 billion and beat earnings estimates, but the CEO's adoption of a 10b5-1 plan to sell up to 435,000 shares adds a cautionary note to an otherwise strong quarter.
Key Events · Earnings and Guidance · SLB
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Q2 Revenue and Earnings Beat
Revenue of $8.97 billion increased 3% sequentially, with adjusted EPS of $0.55 beating the $0.51 consensus. International growth offset a 13% sequential decline in the Middle East.
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CEO Adopts 10b5-1 Trading Plan
CEO Olivier Le Peuch adopted a Rule 10b5-1 plan on May 27, 2026, to sell up to 435,000 shares between August 26, 2026 and July 27, 2027. This follows $3 million in insider selling over the past 90 days.
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Bullish Q4 Revenue Guidance
Management guided for Q4 2026 revenue to exceed $10 billion, implying sequential growth of over 11% from Q2 levels, driven by Data Center Solutions and international offshore activity.
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Active Capital Management
SLB issued $2.0 billion in new senior notes during Q2 and repurchased $648 million of common stock under its $10 billion buyback program, with $3.0 billion remaining authorization.
Analysis · SLB · Energy & Transportation
SLB's second-quarter revenue rose 3% sequentially to $8.97 billion, driven by international offshore activity and a rebound in North America, despite ongoing Middle East disruptions. Adjusted EPS of $0.55 beat the $0.51 consensus, and management guided for Q4 revenue above $10 billion. However, CEO Olivier Le Peuch adopted a pre-arranged trading plan to sell up to 435,000 shares starting in August — a notable signal when paired with the $3 million in insider selling over the past 90 days. The company also issued $2 billion in new debt and repurchased $648 million in stock, reflecting active capital management.
At the time of this filing, SLB was trading at $49.77 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $74.4B. The 52-week trading range was $31.64 to $58.82. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.