HOUSTON: SLB (NYSE: SLB) reported second-quarter revenue of $8.55 billion, a 1% sequential increase, as steady demand across international markets offset regional slowdowns and subdued upstream spending.
The oilfield services provider posted net income of $1.01 billion on a GAAP basis, with diluted earnings per share of $0.74—up 28% sequentially but 4% below the prior-year period. Adjusted EBITDA rose 2% quarter-over-quarter to $2.05 billion, and margins improved slightly to 24%.
“Our diversified portfolio and broad geographic exposure helped us deliver solid results in a cautious market environment,” said CEO Olivier Le Peuch. “Despite macroeconomic headwinds and oil market volatility, upstream activity remained resilient.”
International revenue grew 2% to $6.85 billion, led by demand in Asia, the Middle East, Europe and North Africa. North America posted a 4% decline. Production Systems revenue increased 3%, reflecting continued momentum in artificial lift and midstream solutions—marking the 17th consecutive quarter of year-on-year growth.
SLB’s acquisition of ChampionX, completed July 16, is expected to strengthen its footprint in production and recovery markets. “With this strategic move, we’re better positioned to integrate workflows across production chemicals and artificial lift,” Le Peuch said.
On July 17, the company’s board declared a quarterly dividend of $0.285 per share, payable Oct. 9 to shareholders of record as of Sept. 3.