Q1 25 EPS
$0.72
MISS 1.22%
Est. $0.73
Q1 25 Revenue
$8.49B
MISS 1.19%
Est. $8.59B
vs S&P Since Q1 25
+40.2%
BEATING MARKET
SLB +71.0% vs S&P +30.9%
Market Reaction
Did SLB Beat Earnings? Q1 2025 Results
SLB opened 2025 on a soft note, missing on both top and bottom lines as first-quarter revenue fell 2.5% year over year to $8.49 billion, coming in 1.19% below the $8.59 billion consensus, while adjusted EPS of $0.72 trailed the $0.73 estimate by 1.22… Read more SLB opened 2025 on a soft note, missing on both top and bottom lines as first-quarter revenue fell 2.5% year over year to $8.49 billion, coming in 1.19% below the $8.59 billion consensus, while adjusted EPS of $0.72 trailed the $0.73 estimate by 1.22%. The primary culprit was a deteriorating international activity environment, with sharp drilling slowdowns in Mexico, Saudi Arabia, offshore Africa, and Russia overwhelming pockets of strength elsewhere. North America bucked the trend, rising 8% year over year to $1.72 billion, and the Production Systems division delivered a 4% revenue gain alongside meaningful margin expansion, offering evidence that SLB's diversified portfolio can absorb upstream cycle pressure. The softer macro picture aligns with broader oilfield services sector anxiety over tariffs, OPEC supply increases, and weakening commodity prices weighing on operator spending plans. Looking ahead, management plans to reduce capital investment to approximately $2.30 billion in 2025 and remains committed to returning at least $4.00 billion to shareholders, with the pending ChampionX acquisition expected to close by early Q3.
Key Takeaways
- • 17% year-on-year digital revenue growth within Digital & Integration
- • Strong demand for surface production systems, completions, and artificial lift in Production Systems
- • Growth in data center infrastructure solutions in North America
- • Cost discipline and resource alignment drove year-on-year adjusted EBITDA margin expansion despite lower revenue
- • Higher activity in UAE, Kuwait, Argentina, and offshore U.S.
- • Conversion of improved-price backlog in Production Systems
SLB YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
SLB Revenue by Segment
With YoY comparisons, source: SEC Filings
SLB Revenue by Geography
With YoY comparisons, source: SEC Filings
“First-quarter adjusted EBITDA margin was slightly up year on year despite softer revenue as we continued to navigate the evolving market dynamics.”
— Olivier Le Peuch, Q1 2025 Earnings Press Release
SLB Earnings Trends
SLB vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
SLB EPS Trend
Earnings per share: estimate vs actual
SLB Revenue Trend
Quarterly revenue: estimate vs actual
SLB Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $0.52 | — | $8.72B | +0.74% |
| Q4 25 BEAT FY | $0.74 | $0.78 | +5.41% | $9.75B | — |
| FY Full Year | $2.89 | $2.93 | +1.22% | $35.71B | +0.09% |
| Q3 25 BEAT | $0.67 | $0.69 | +3.68% | $8.93B | +0.08% |
| Q2 25 MISS | $0.75 | $0.74 | -1.33% | $8.55B | +0.44% |
| Q1 25 MISS | $0.73 | $0.72 | -1.22% | $8.49B | -1.19% |