SLB (SLB) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $8.97 billion, up 3% sequentially and 5% year over year, driven by broad-based international growth and strong offshore activity, offsetting Middle East disruptions.

• Net income for Q2 2026 was $815 million, with diluted EPS at $0.52; adjusted EPS was $0.55, up sequentially but down year over year.

• ChampionX acquisition contributed $870 million in revenue and $207 million in adjusted EBITDA, supporting Production Systems growth.

• Data Center Solutions revenue grew 33% sequentially and 80% year over year, driven by new hyperscaler customers and expanded offerings.

• Strategic focus on digital operations, AI, and data center solutions positions the company for resilient, long-term growth.

Financial highlights

• Q2 2026 revenue was $8.97 billion, up 3% sequentially and 5% year over year; net income was $815 million; adjusted EBITDA was $1.90 billion, up 7% sequentially.

• Adjusted EPS was $0.55, up $0.03 sequentially but down $0.19 year over year; GAAP EPS was $0.52.

• Adjusted EBITDA margin was 21.2%, up 83 basis points sequentially but down 284 basis points year over year.

• Cash flow from operations was $1.36 billion; free cash flow was $716 million.

• Net debt at quarter-end was $8.73 billion.

Outlook and guidance

• Q3 global sequential revenue growth expected between 3% and 4%, with adjusted EBITDA margin expansion of ~75 basis points.

• Q4 revenue projected to surpass $10 billion, up ~5% year over year, with adjusted EBITDA margin around 24%.

• Data Center Solutions business on track to exceed $1 billion annualized revenue run rate by year-end, targeting $2 billion by end of 2027.

• Capital investments for full-year 2026 expected to be approximately $2.5 billion.

• Sufficient liquidity is anticipated for the next 12 months and beyond, supported by $4.1 billion in cash and $5.0 billion in available credit facilities.