01—Abstract
Summary
Summary of the 10-Q filed October 28, 2026. Cited figures are marked; the original filing is the authoritative source.
SLB Limited/NV (SLB) reported solid financial results for the third quarter and the first nine months of 2026.
Total revenue for the third quarter reached $9.45 billiona, a 5% increase year-over-year, driven by strong international activity and a recovery in the Middle East. For the first nine months of 2026, revenue grew 5% to $27.14 billion, although this growth was impacted by a 16% decline in Middle East revenue due to regional conflicts. Net income attributable to SLB for the third quarter was $735 million, or $0.49 per diluted share, compared to $739 million, or $0.50 per diluted share, in the prior year's third quarter.
For the nine-month period, net income attributable to SLB was $2.27 billionb, or $1.51 per diluted share, a decrease from $2.55 billion, or $1.80 per diluted share, in the same period of 2025. The company announced a proposed acquisition of Kelvion for approximately $3.4 billion, which is expected to strengthen its Data Center Solutions business.
02—Key points
Key Highlights
- Total revenue for Q3 2026 was $9.45 billion, up 5% year-over-year, driven by international growth and Middle East recovery.
- Nine-month revenue reached $27.14 billion, a 5% increase year-over-year, though impacted by regional conflicts in the Middle East.
- Net income attributable to SLB for Q3 2026 was $735 million, with diluted EPS at $0.49.
- Announced agreement to acquire Kelvion for approximately $3.4 billion to bolster Data Center Solutions business.
- The company reported a non-cash pension settlement charge of $187 million in Q3 2026.
- Total backlog stood at $6.8 billion at September 30, 2026, with ~80% expected within the next 12 months.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ3 FY2026filed October 28, 2026Financial Statements
Q3 FY2026 against Q3 FY2025
| Line item | Q3 FY2026Q3 FY2025 | Change |
|---|---|---|
| Revenue | $9.45B$8.93B | +5.8% |
| R&D Expenses | $156.00M$170.00M | −8.2% |
| Interest Expense | $133.00M$142.00M | −6.3% |
| Net Income | $735.00M$739.00M | −0.5% |
| EPS (Basic) | $0.50$0.50 | 0.0% |
| EPS (Diluted) | $0.49$0.50 | −2.0% |
| Shares Outstanding (Basic) | 1.48B1.47B | +0.7% |
| Shares Outstanding (Diluted) | 1.50B1.49B | +0.6% |
05—Questions
Frequently Asked Questions
What drove the revenue growth in the third quarter of 2026?
Revenue growth in the third quarter of 2026 was primarily driven by a 5% increase year-over-year, fueled by strong international activity, a recovery in the Middle East, and growth in North America land. Specific segments like Production Systems and Well Construction saw increased activity.
What is the impact of the Middle East conflict on SLB's performance?
The Middle East conflict has had a negative impact, particularly on year-over-year comparisons for the nine-month period. Revenue in the Middle East declined by 16% for the first nine months of 2026, affecting segments like Reservoir Performance and Well Construction due to operational disruptions.
What is the significance of the proposed acquisition of Kelvion?
SLB announced an agreement to acquire Kelvion for approximately $3.4 billion. This acquisition is strategic as it aims to strengthen SLB's Data Center Solutions business by integrating Kelvion's thermal management and heat exchange technologies, expanding SLB's presence in the growing data center infrastructure market.
What was the non-cash pension settlement charge and its impact?
In the third quarter of 2026, SLB recorded a $187 million non-cash pension settlement charge related to a lump sum payment offered to former employees and pensioners of its International Staff Pension Plan. This charge is classified under 'Restructuring & other' and impacted the effective tax rate due to its non-deductible nature.
06—Continue