10-QPeriod: Q2 FY2026

SLB LIMITED/NV Quarterly Report for Q2 Ended Jun 30, 2026

Filed July 29, 2026For Securities:SLB

Summary

SLB Limited/NV (SLB) reported its second-quarter and year-to-date results for 2026. Total revenue for the second quarter was $8.97 billion, an increase from $8.55 billion in the same period of 2025. For the six months ended June 30, 2026, total revenue reached $17.69 billion, up from $17.04 billion in the prior year. Net income attributable to SLB for the second quarter was $786 million ($0.52 per diluted share), a decrease from $1.01 billion ($0.74 per diluted share) in the second quarter of 2025. For the six-month period, net income attributable to SLB was $1.54 billion ($1.02 per diluted share), down from $1.81 billion ($1.32 per diluted share) in the first half of 2025. The decrease in profitability appears to be influenced by various charges and credits, as well as geopolitical impacts on operations, particularly in the Middle East.

Key Highlights

  • 1Total revenue for Q2 2026 increased by 4.4% year-over-year to $8.97 billion, driven by growth across international markets.
  • 2Six-month revenue grew 3.9% year-over-year to $17.69 billion.
  • 3Net income attributable to SLB for Q2 2026 decreased to $786 million from $1.01 billion in Q2 2025, resulting in a lower diluted EPS of $0.52 compared to $0.74.
  • 4The company generated $1.85 billion in cash flow from operating activities for the six months ended June 30, 2026.
  • 5SLB repurchased $1.1 billion of its common stock in the first six months of 2026.
  • 6Long-term debt increased to $11.14 billion as of June 30, 2026, from $9.74 billion as of December 31, 2025, with new debt issuances in the second quarter of 2026.
  • 7The company experienced revenue declines in the Middle East due to operational disruptions related to regional conflicts, impacting segments like Reservoir Performance and Well Construction.

Frequently Asked Questions

For the second quarter of 2026, SLB reported total revenue of $8.97 billion, an increase from $8.55 billion in the same period of 2025. However, net income attributable to SLB decreased to $786 million ($0.52 per diluted share) from $1.01 billion ($0.74 per diluted share) in Q2 2025. For the first six months of 2026, revenue was $17.69 billion, up from $17.04 billion in the prior year, while net income attributable to SLB declined to $1.54 billion ($1.02 per diluted share) from $1.81 billion ($1.32 per diluted share).

Revenue growth in Q2 2026 was primarily driven by broad-based growth across international markets, particularly in offshore activity in Latin America, Europe & Africa, and Asia. This growth more than offset impacts from disruptions in the Middle East. For the six-month period, while overall revenue increased, growth was tempered by a significant decline in Middle East revenue due to operational disruptions related to regional conflicts. The Production Systems segment saw significant growth year-over-year, largely due to the contribution of the acquired ChampionX businesses.

SLB generated $1.85 billion in cash flow from operating activities for the first six months of 2026. The company repurchased approximately $1.1 billion of its common stock during this period under its ongoing share repurchase program. Additionally, SLB announced a 3.5% increase to its quarterly cash dividend in January 2026. Long-term debt increased due to new issuances in the second quarter of 2026.

Geopolitical events, particularly the conflict in the Middle East, have caused significant operational disruptions. This has led to revenue declines in segments like Reservoir Performance and Well Construction, as well as overall revenue decreases in the Middle East region. The company is navigating these challenges by adapting its strategies and focusing on growth in other international markets.