EarningsQ2 2026 Earnings Report
MX:SLBN Q2 2026 EPS Results
Actual EPS$9.99
Consensus EPS$9.28
Beat/MissBeat by +$0.71
One Year Ago EPS$13.44
MX:SLBN Q2 2026 Revenue Results
Actual Revenue$162.69B
Expected Revenue$157.41B
Beat/MissBeat by +$5.28B
YoY Revenue Growth+4.87%
Earnings Announcement Details
QuarterQ2 2026
Date07/24/2026
TimeBefore Open
Conference CallFriday, July 24, 2026
MX:SLBN Upcoming Earnings
SLB's next earnings date is estimated for October 23, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:SLBN Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominantly positive operational and strategic picture: sequential revenue growth, strong performance and margin expansion in Digital and Production Systems, rapid scaling of Data Center Solutions with a clear $2+ billion exit rate target, improved free cash flow and active shareholder returns. These positives were tempered by meaningful, ongoing disruption in the Middle East (a ~13% sequential revenue decline in the region), some YoY earnings decline, net debt of $8.7 billion, and downside geopolitical risk that could subtract ~$150 million of Q3 revenue and ~$75 million of adjusted EBITDA in a severe scenario. On balance, the company conveyed confidence in recovery paths, diversification drivers (digital, data centers, deepwater), and an encouraging outlook into Q3/Q4 and 2027.Company Guidance
Solid Quarterly Revenue and Sequential Growth
Company revenue of $9.0 billion in Q2 2026, up ~3% sequentially, driven by broad-based international growth and a rebound in North America.
Production Systems Recovery and Margin Expansion
Production Systems revenue totaled $3.8 billion, up 7% sequentially. Adjusted profitability improved (Pretax operating margin 15.5%, +138 basis points sequentially) and Production Systems adjusted EBITDA margins returned to above 20%. ChampionX contributed accretive margins and delivered sequential margin expansion for a third consecutive quarter.
Digital Business Strength and Recurring Revenue Growth
Digital revenue of $697 million, up 9% sequentially; adjusted EBITDA margin ~34.7% (expanded ~860 basis points sequentially). Annual recurring revenue increased ~15% year-over-year. Digital benefited from higher exploration data licenses and strong platform/app sales.
Data Center Solutions Rapid Expansion
Data Center Solutions revenue rose 33% sequentially and ~80% year-over-year, supported by new hyperscaler customers and expanded scope (design, engineering, system integration). Management expects a >$2 billion annualized exit revenue run rate for data center solutions into 2027.
Strong Cash Generation and Shareholder Returns
Generated $1.4 billion of cash from operations and $716 million of free cash flow in Q2 (free cash flow increased by $739 million sequentially). Repurchased $648 million of stock in the quarter and maintained plan for at least $2.4 billion in repurchases for the full year; targeting >$4 billion returned to shareholders in 2026.
Encouraging Outlook and Margin Guidance
Base-case guidance for Q3 calls for sequential global revenue growth of 3–4% and adjusted EBITDA margin expansion of ~75 basis points. Preliminary Q4 outlook targets revenue >$10 billion (≈5% year-over-year growth) and adjusted EBITDA margin of ~24%, indicating confidence in end-of-year momentum.
Deepwater / Long-Cycle Opportunity
Management cites a market shift toward an upcycle with long-cycle FIDs expected to increase ~30% year-over-year in 2026; this supports stronger deepwater activity into 2027 and aligns with OneSubsea JV momentum and subsea award flow.
MX:SLBN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed