Economic and industry statisticsOil and gas
SLB reports third-quarter revenue growth as North American land and international activity lift results
SLB reported $9.45 billion in third-quarter revenue, up sequentially and year on year, with operating cash flow of $1.51 billion.
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SLB reported third-quarter 2026 revenue of US$9.449 billion, up 5 per cent sequentially and 6 per cent year on year. Net income attributable to SLB was US$735 million and GAAP diluted EPS was US$0.49. The company reported US$1.51 billion of operating cash flow and US$828 million of free cash flow; its board approved a quarterly dividend of US$0.295 per share.
Regional revenue rose sequentially across the company’s reported areas. The release cited a gradual Middle East recovery, North American land activity and international deepwater work. It also cautioned that acquisition effects contributed to comparisons: ChampionX added US$970 million of revenue to the Core business, while Core revenue excluding that contribution was essentially flat year on year.
SLB’s prepared remarks provide project and operating context beyond the financial tables. Management said Saudi Aramco had awarded four integrated well-construction contracts covering more than 450 wells over an initial three-year term. The remarks also identified a OneSubsea award for subsea production systems for the first phase of the Rovuma LNG development offshore Mozambique. Those are service and equipment awards, not EPC contracts for SLB to construct the full projects.
The same remarks said Data Center Solutions revenue increased 23 per cent sequentially and 76 per cent year on year and that SLB was investing in facilities and staff, including a new Canadian manufacturing centre supporting the Meta data-centre project. Management’s comments described expectations for the fourth quarter and 2027 as outlook, not reported results. Taken together, the figures show a quarter of revenue growth with contributions from services, technology, acquired businesses and project awards; they should not be read as an industry-wide EPC market measure.
The prepared remarks also reported more than 750,000 feet of automated drilling during the quarter, an increase of nearly 50 per cent year on year, and said SLB’s DrillOps analytics monitored more than one-fifth of active international rigs. Management expected its Digital division to end 2026 with double-digit year-on-year growth and adjusted EBITDA margins above 35 per cent, and forecast fourth-quarter revenue of about US$10 billion on the assumption that Middle East revenue stayed flat sequentially. These are company outlook statements, not reported results or a project-level EPC forecast.
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