SLB Q3 FY2026: revenue grows 6%, adjusted EPS beats, margins slip
SLB's FY2026 Q3 is a growth-with-a-caveat quarter: revenue rose 6% year on year to $9.45 billion and adjusted EPS of $0.64 beat the $0.6216 consensus, but GAAP EPS fell 2% and adjusted EBITDA margin dropped 121 basis points year on year. Read the release as a volume recovery in the Middle East, North America and deepwater, with the profit debate centered on margins and charges rather than demand.
1 · Expected vs. Actual
Free preview belowGAAP EPS was $0.49, down 6% sequentially and 2% year on year, while EPS excluding charges and credits was $0.64, up 16% sequentially and down 7% year on year. The $0.64 adjusted figure cleared the $0.6216 consensus estimate by about $0.02, or 3.0%. The gap between GAAP and adjusted EPS is mostly a $187 million pension settlement charge and $55 million of merger and integration costs.
Revenue of $9.45 billion rose 5% sequentially and 6% year on year, with cost of revenue of $7.88 billion implying a 16.6% gross margin. International revenue was $6.99 billion, up 5% sequentially but only 1% year on year, while North America grew 7% sequentially and 24% year on year to $2.40 billion. Middle East & Asia rose 9% sequentially to $2.81 billion, helped by a 13% sequential rebound in the Middle East despite late-quarter disruptions.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-03
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