SLB beats quarterly profit estimates on strong demand in North America
The largest US oilfield services firm SLB reported third-quarter profit above analyst expectations, with North American revenue up 24%, according to Reuters.
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what happened
SLB, the top US oilfield services company, reported third-quarter adjusted profit of 64 cents per share against analysts' estimate of 62 cents, according to data compiled by LSEG and reported by Reuters.
Steady demand in key regions, including North America, helped the company offset weakness in the Middle East linked to the war in Iran. North American revenue rose 24% to $2.40 billion, supported by strong US oil and gas drilling. Revenue from the Middle East and Asia fell to $2.81 billion from $3 billion a year earlier.
Total quarterly revenue reached $9.45 billion. The Middle East remains SLB's largest market, accounting for 34% of total revenue in 2025.
why it matters
The results suggest demand for oilfield services in the US is holding up even as the Middle East weakens. For markets, this is a useful gauge of drilling activity and oil producers' spending plans.
market impact
Oilfield services: strong North American activity supports the sector despite weakness in the Middle East
tags
instruments
sources
- Top US oilfield services firm SLB beats quarterly profit estimates — Reuters, 23 October 2026 at 10:52 UTC
- Top oilfield services firm SLB beats quarterly profit estimates — Reuters, 23 October 2026 at 11:00 UTC
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