How SLB makes money: Q2 2026 revenue breakdown
US GAAP · $M · vs Q2 2025 · reported 07/24/2026
SLB, formerly known as Schlumberger, is a multinational oilfield services company. · Wikipedia
More about the company
Founded in France in 1926, the company is now incorporated as SLB N.V. in Willemstad, Curaçao, with principal executive offices in four cities: Paris, France; Houston, Texas, United States; London, UK; and The Hague, Netherlands. As of 2022, it is both the world's largest offshore drilling company and the world's largest offshore drilling contractor by revenue.
Key growth driver: Production Systems — the fastest-growing revenue line: $3,771, +29% y/y. · by the Q2 2026 report
How does SLB make money?
SLB brought in $8.97 billion of revenue in Q2 2026, up 5.0% year over year. The largest source was Production Systems: $3.77 billion, or 42% of the total, followed by Well Construction ($2.74B, 31%) and Reservoir Performance ($1.56B, 17%); other lines add the remaining 10%. Net income for the quarter was $786 million, down 22.5% year over year.
Revenue by source, Q2 2026
- Production Systems$3.77B · 42% · +29%
- Well Construction$2.74B · 31% · −7%
- Reservoir Performance$1.56B · 17% · −8%
- Digital$697M · 8% · +18%
- All Other & Elim.$206M · 2%
Shares of $8.97B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is SLB’s next earnings date?
Friday, October 23, 2026confirmed · before market open
SLB is scheduled to report results for the quarter ending Sep 2026 on Oct 23, 2026. Consensus EPS forecast: $0.62 (10 analysts), vs $0.69 in the same quarter last year.
What time does SLB report? Usually before market open: the last 4 results releases reached the SEC at 7:02 am, 7:15 am, 7:06 am, 7:03 am ET.
Last report: Jul 24, 2026 (Q2 2026) — broken down in the Sankey chart below. Dates and consensus: Nasdaq / Zacks Investment Research; companies do reschedule. Who else reports this week →
All figures in $M.
Revenue
$8,972
+5.0%
Gross profit
$1,071
Net income
$786
−22.5%
EPS $0.52 · −30%
Verdict: A resilient quarter with 5% y/y revenue growth driven by ChampionX and Production Systems, but GAAP net income fell 22% y/y as Middle East conflict disruptions and higher merger/interest costs compressed segment margins despite sequential improvement.
OCF $1,359M; FCF $716M; buybacks $648M (12M shares); dividend $0.295/share; FY26 capex guidance ≈$2.5B.
Source and notation
* marks non-cash / ≈ estimated. Source: SLB press release / 10-Q (SEC EDGAR).
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
Heads-up
- net income fell 23% y/y in Q2 2026
- debt load increased (Q2 2026)
Most likely because revenue growth (+5% y/y) is entirely acquisition-driven: ChampionX added $870M revenue; interest expense rose to $128M (+12% sequentially, -10% y/y vs 142M) reflecting higher debt from the ChampionX acquisition. Based on the Q2 2026 report.
Company filings on SEC EDGAR ↗Most likely because interest expense rose to $128M (+12% sequentially, -10% y/y vs 142M) reflecting higher debt from the ChampionX acquisition, pressuring pretax income alongside opex growth. Based on the Q2 2026 report.
Company filings on SEC EDGAR ↗SLB earnings history: past report dates
| Jul 24, 2026 Fri | 7:02 ambefore market open | Jun 30, 2026 | $9.0B+5% y/y | $0.52−30% y/y |
| Apr 24, 2026 Fri | 7:15 ambefore market open | Mar 31, 2026 | $8.7B+3% y/y | $0.50−14% y/y |
| Jan 23, 2026 Fri | 7:06 ambefore market open | Dec 31, 2025 | ≈$9.7B+5% y/y | ≈$0.53−31% y/y |
| Oct 17, 2025 Fri | 7:03 ambefore market open | Sep 30, 2025 | $8.9B−3% y/y | $0.50−40% y/y |
| Jul 18, 2025 Fri | 7:05 ambefore market open | Jun 30, 2025 | $8.5B−6% y/y | $0.74−4% y/y |
| Apr 25, 2025 Fri | 7:09 ambefore market open | Mar 31, 2025 | $8.5B−2% y/y | $0.58−22% y/y |
| Jan 17, 2025 Fri | 7:08 ambefore market open | Dec 31, 2024 | ≈$9.3B+3% y/y | ≈$0.77+1% y/y |
| Oct 18, 2024 Fri | 7:08 ambefore market open | Sep 30, 2024 | $9.2B+10% y/y | $0.83+6% y/y |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
SLB: 5-year financials
| 2025 | 35,708 | — | 3,374 | 4,795 | 1,602 |
| 2024 | 36,289 | — | 4,461 | 4,671 | 1,533 |
| 2023 | 33,135 | 6,523 | 4,203 | 4,698 | 1,317 |
| 2022 | 28,091 | 5,011 | 3,441 | 2,102 | 848 |
| 2021 | 22,929 | 3,365 | 1,881 | 3,510 | 699 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP).
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
2/2good
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- Jan 2026Cover of the 2025 10-K: one class of Common Stock; 1,495.3M shares as of December 31, 2025 vs. 1,392.3M as of December 31, 2020 (+7.4%, including ChampionX). sec.gov ↗
- Jan 20212020 10-K: in April 2020 the quarterly dividend was cut by 75% amid net losses of $10.5B (2020) and $10.1B (2019). sec.gov ↗
- Jan 2026Quarterly dividend raised: $0.25 → $0.275 (2024) → $0.285 (2025) → $0.295 (2026). sec.gov ↗
- Jan 2026Note 15 Contingencies of the 10-K: the likelihood of material losses from pending cases is assessed as remote; no shareholder lawsuits or SEC cases. sec.gov ↗
Scoring: 2.0 with no deductions = 2.0 (single share class, shares +7.4% over 5 years including the all-stock ChampionX acquisition, the 2020 dividend cut amid a $10.5B net loss is not a deduction, no shareholder lawsuits or SEC cases)
- Share classes
- 10-K cover: one class — Common Stock $0.01 (NYSE: SLB).
- Dilution
- Shares 1,392.3M (December 31, 2020) → 1,495.3M (December 31, 2025) = +7.4% (<10%); the 2025 increase reflects paying for ChampionX in stock; SBC 0.9% of revenue.
- Disclosure
- Full reporting, no violations.
- Dividends
- In April 2020 the quarterly dividend was cut 75% amid net losses of $10.1B (2019) and $10.5B (2020) — not a deduction under the methodology; raised annually since 2022, $0.285 → $0.295/quarter from April 2026.
- Lawsuits & regulators
- Note 15 of the 10-K: no material proceedings; the 2015 guilty plea over sanctions (OFAC) does not concern disclosure and is more than 10 years old; no SEC disclosure cases.
- Related parties
- No material related-party transactions.
How the score works · checked as of Sep 2026
SLB earnings: FAQ
How does SLB make money?
SLB brought in $8.97 billion of revenue in Q2 2026, up 5.0% year over year. The largest source was Production Systems: $3.77 billion, or 42% of the total, followed by Well Construction ($2.74B, 31%) and Reservoir Performance ($1.56B, 17%); other lines add the remaining 10%. Net income for the quarter was $786 million, down 22.5% year over year.
When is SLB's next earnings date?
SLB (SLB) is scheduled to report on Oct 23, 2026, before market open.
What time does SLB report earnings?
SLB is scheduled to report before market open on Oct 23, 2026. Its last results releases were filed before market open, most recently at 7:02 am ET on Jul 24, 2026.
When did SLB last report earnings?
SLB reported Q2 2026 results on Jul 24, 2026.
What is the EPS estimate for SLB's next earnings?
The consensus EPS forecast is $0.62 (10 analysts), vs $0.69 in the same quarter last year.
Where can I find SLB's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to SLB's filings; this page breaks the latest report down in a Sankey chart.
What was SLB's net income in Q2 2026?
SLB reported net income of $786M for Q2 2026 (−22.5% year over year), under US GAAP.
Does SLB pay dividends?
Yes. In 2025, SLB paid $1,602M in dividends on its common stock, per its 10-K. Earlier years are in the five-year table above.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report. Figures checked against the filing on 08/25/2026. How we make the breakdowns · Report an error
More reports: VLO · Q2 2026 · WMB · Q2 2026 · XOM · Q2 2026 · COP · Q2 2026 · CVX · Q2 2026 · EOG · Q2 2026 · MPC · Q2 2026 · PSX · Q2 2026 · PLD · Q2 2026 · SPG · Q2 2026 · all reports