AI-extracted from the 10-Q filed 2026-07-29 — Q2 2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Q2 2026 revenue of $8,972M rose 3% sequentially as offshore-led international growth and ChampionX-boosted Production Systems offset a 13% sequential drop in Middle East revenue; net income attributable to SLB fell to $786M from $1,014M.
Biggest Revenue Drivers
Production Systems$3,771M+7% QoQ
Strong growth in Latin America, Europe & Africa, Asia and North America; higher SLB OneSubsea, artificial lift, valves, surface production systems and completions sales
Well Construction$2,742M-2% QoQ
Impact of disruptions associated with the Middle East conflict, partially offset by higher offshore drilling activity in Latin America
Biggest Revenue Drivers
Total revenue: $8,972M+3% QoQ
Production Systems$3,771M+7% QoQ
Strong growth in Latin America, Europe & Africa, Asia and North America; higher SLB OneSubsea, artificial lift, valves, surface production systems and completions sales
Well Construction$2,742M-2% QoQ
Impact of disruptions associated with the Middle East conflict, partially offset by higher offshore drilling activity in Latin America
Reservoir Performance$1,556M-2% QoQ
Lower evaluation, stimulation and intervention activity from Middle East conflict disruptions, with production shut-ins and security challenges constraining some markets
Digital$697M+9% QoQ
A 25%, or $25 million, increase in Digital Exploration from exploration data licenses and transfer fees, plus $17 million higher Platforms & Applications sales
Largest Expense Items
Cost of services$4,340M
Versus $4,227M in the second quarter of 2025 on lower services revenue of $5,200M
Cost of sales$3,237M
Versus $2,707M a year ago, tracking product sales growth to $3,772M including acquired ChampionX volumes
Research & engineering$171M
1.9% of revenue, flat with the first quarter of 2026 and down from 2.1% in the first six months of 2025
Merger & integration$69M
Charges recorded primarily in connection with the July 2025 acquisition of ChampionX Corporation
Margins: Divisional margins diverged: Digital pretax operating margin of 28% expanded 683 bps and Production Systems 16% expanded 138 bps sequentially, while Reservoir Performance 15% contracted 121 bps and Well Construction 15% was flat.
Watch Items from the Filing
Middle East revenue fell 13% sequentially to $1.66 billion on conflict-related operational disruptions, production shut-ins, and ongoing security challenges.
Excluding the ChampionX acquisition, six-month 2026 revenue declined 6%, or $1.05 billion, year on year, including a 12%, or $0.7 billion, Middle East decline.
Net debt rose to $8,727M from $7,424M at year-end 2025 after $1,985M of long-term debt issuance, $1,099M buybacks, and $866M dividends.
Total backlog was $6.4 billion at June 30, 2026, of which approximately 70% is expected to be recognized as revenue over the next 12 months.
Of more than 100 countries, only three individually exceeded 5% of net receivables and only the United States exceeded 10%.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
34 transactions in SLB reported by 15 members of Congress under the STOCK Act, most recent trade Oct 31, 2025. Reported transactions, not recommendations.
About SLB LIMITED/NV (SLB): stock profile, AI score and financials
SLB LIMITED/NV (SLB) stock profile, AI quality score, and SEC EDGAR financial data, a Energy sector company. 13F Pro's AI-powered ranking engine scores SLB at 56.9/100 on a composite quality score built from its SEC filings, placing it at rank #1,116 of 2,925 stocks — the top half of the AI-ranked universe. SLB scores in the top quartile across revenue scale (95.8). Areas of concern include revenue growth (30.2), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), SLB LIMITED/NV reports quarterly revenue of $9.0B, net income of $786.0M, an operating margin of 11.4%. Top institutional holders of SLB by reported 13-F value include BlackRock, VANGUARD CAPITAL MANAGEMENT, STATE STREET, based on the most recent SEC filings. SLB trades on the NYSE exchange and files with the SEC under CIK 87347. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate SLB daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for SLB LIMITED/NV directly from SEC EDGAR.