Q2 25 EPS
$0.74
MISS 1.33%
Est. $0.75
Q2 25 Revenue
$8.55B
BEAT +0.44%
Est. $8.51B
vs S&P Since Q2 25
+50.6%
BEATING MARKET
SLB +65.4% vs S&P +14.8%
Market Reaction
Did SLB Beat Earnings? Q2 2025 Results
SLB posted a mixed second quarter for 2025, delivering a narrow earnings miss alongside a modest revenue beat as a broad pullback in upstream spending weighed on year-on-year results. Adjusted diluted EPS of $0.74 fell just short of the $0.75 consens… Read more SLB posted a mixed second quarter for 2025, delivering a narrow earnings miss alongside a modest revenue beat as a broad pullback in upstream spending weighed on year-on-year results. Adjusted diluted EPS of $0.74 fell just short of the $0.75 consensus estimate, while revenue of $8.55 billion edged past expectations of $8.51 billion, though the top line still declined 6.5% from a year earlier, reflecting drilling reductions across Mexico, Saudi Arabia, and North America. The standout driver was Production Systems, which posted its 17th consecutive quarter of year-on-year revenue growth at $3.04 billion, partially offsetting a 13% year-on-year slump in Well Construction. A $149 million gain on the divestiture of its Palliser APS project added a meaningful lift to GAAP net income. With the ChampionX acquisition now closed, management expressed measured optimism for the second half, citing greater exposure to production chemicals and artificial lift as a buffer against a softer-than-expected oilfield services market, with full-year capital investment guided to approximately $2.4 billion.
Key Takeaways
- • 2% sequential increase in international revenue driven by growth in Middle East, Asia, Europe and North Africa
- • Production Systems revenue climbed 3% sequentially marking 17th consecutive quarter of year-on-year growth
- • Strong sales of artificial lift and midstream production systems
- • Digital & Integration pretax operating margin expanded 240 bps sequentially driven by greater digital adoption and cost-efficiency gains
- • Double-digit sequential revenue growth from digital platforms, applications and digital operations
- • Gain on sale of Palliser APS project of $149 million
SLB YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
SLB Revenue by Segment
With YoY comparisons, source: SEC Filings
SLB Revenue by Geography
With YoY comparisons, source: SEC Filings
“SLB reported solid second-quarter results, leveraging our diversified portfolio and broad market exposure to deliver steady revenue and slightly higher adjusted EBITDA and margins sequentially. This demonstrates our resilience amidst softer upstream spending and macroeconomic uncertainty.”
— Olivier Le Peuch, Q2 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% |