Financial Data and Key Metrics Changes - The third quarter earnings per share, excluding charges and credits, was $0.69, representing a decrease of $0.05 sequentially and $0.20 compared to the first quarter of last year [23] - Revenue for the first quarter was $8.9 billion, an increase of $382 million or 4% sequentially [23] - Companywide adjusted EBITDA margin for the third quarter was 23.1%, representing a sequential decrease of 92 basis points [26] Business Line Data and Key Metrics Changes - Digital revenue increased 11% sequentially, driven by a 39% increase in digital operations [8][35] - Reservoir Performance revenue declined 1% sequentially, while Well Construction revenue was flat [36] - Production Systems revenue increased by $542 million or 18% sequentially, reflecting two months of activity from the acquired ChampionX [36] Market Data and Key Metrics Changes - Revenue in North America grew 17% sequentially, driven mainly by the contribution of ChampionX [6] - International Markets revenue rose 1% sequentially, with notable increases in several countries across the Middle East and Asia [5] - The digital business is expected to continue growing at a rate that visibly outperforms global upstream spending [11] Company Strategy and Development Direction - The company is focusing on production recovery solutions to unlock additional barrels at the lowest possible cost, positioning itself as a leader in this space [14] - The integration of ChampionX is expected to enhance the company's production recovery offerings and generate significant synergies [38] - The digital division is now reported as a standalone entity, highlighting its strategic value and growth potential [27] Management's Comments on Operating Environment and Future Outlook - The management expressed confidence in the resilience of the oil and gas markets despite challenging commodity prices and uncertainties [16] - The fundamentals for oil and gas remain constructive, with global inventories at multiyear lows [17] - The company anticipates a sequential step-up in results in the fourth quarter, driven by a full quarter of ChampionX and higher year-end digital sales [21] Other Important Information - The company generated $1.7 billion of cash flow from operations and $1.1 billion of free cash flow during the quarter [38] - Capital investments for the full year are expected to be approximately $2.4 billion [39] - The company repurchased $114 million of its stock during the quarter, totaling $2.4 billion year-to-date [40] Q&A Session Summary Question: How does the company see the production-focused business growing? - The management highlighted the need for reinvestment in production and recovery solutions, emphasizing the importance of technology and innovation in this area [44][46] Question: Can you elaborate on the four segments of the digital business? - The management explained that the growth in the digital business is driven by customer adoption and the expansion of offerings, with expectations for continued growth in annual recurring revenue [47][49] Question: What is the outlook for deepwater markets? - The management expressed confidence in the deepwater market's resilience and anticipated a gradual strengthening of rig activity in the coming years [60][61] Question: How does the company view the addressable market in digital? - The management believes the digital solutions market is unconstrained and will continue to expand as the company leverages its capabilities [96]

Core Insights - Schlumberger reported quarterly earnings of $0.69 per share, exceeding the Zacks Consensus Estimate of $0.66 per share, but down from $0.89 per share a year ago, indicating an earnings surprise of +4.55% [1] - The company posted revenues of $8.93 billion for the quarter ended September 2025, slightly missing the Zacks Consensus Estimate by 0.02% and down from $9.16 billion year-over-year [2] - Schlumberger shares have underperformed the market, losing about 14.1% since the beginning of the year compared to the S&P 500's gain of 12.7% [3] Earnings Outlook - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the next quarter is $0.74 on revenues of $9.51 billion, and for the current fiscal year, it is $2.86 on revenues of $35.46 billion [7] Industry Context - The Oil and Gas - Field Services industry, to which Schlumberger belongs, is currently ranked in the bottom 28% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor sentiment [5]

Core Insights - SLB reported higher-than-expected earnings for Q3 2025, with North American revenue increasing by 17% from Q2 and 14% year-over-year [1][2] - Adjusted EPS for Q3 was $0.69, surpassing the analyst consensus estimate of $0.66, although lower than previous quarters [1] North American Revenue - North American revenue for Q3 2025 was significantly boosted by the acquisition of ChampionX, contributing $579 million, with $387 million from North America [2] - Pro forma analysis indicated that without the ChampionX acquisition, North American revenue would have declined by 5% due to the divestiture of the APS project and reduced U.S. land drilling activity [3] International Revenue Outlook - International revenue remained flat quarter-on-quarter and decreased by 7% year-over-year, but SLB views international markets as crucial for future growth [3][4] - The CEO highlighted that international markets are expected to lead a rebound in activity, supported by ongoing investments in oil capacity and gas expansion projects [4][5] Market Resilience - Despite challenges in some regions, international markets, particularly in the Middle East and Asia, are showing robust growth [5] - Anticipated OPEC+ production releases are expected to bolster investment in countries where SLB has a strong presence [5]

Market Overview - US stock index futures showed mixed performance, with Dow futures up by 0.18% while S&P 500 and Nasdaq futures down by 0.04% and 0.24% respectively [1] - European indices experienced declines, with Germany's DAX down 1.48%, UK's FTSE 100 down 1.05%, and France's CAC40 down 0.05% [2][3] - WTI crude oil increased by 0.21% to $57.58 per barrel, while Brent crude rose by 0.16% to $61.16 per barrel [3][4] Credit Market Concerns - Goldman Sachs President John Waldron warned of a potential systemic crisis due to a $5 trillion "credit time bomb," highlighting significant growth in high-yield bonds, leveraged loans, and private credit [5] - Recent fraudulent activities in the credit market have raised concerns about underlying risks, particularly involving Zion Bank and Western Alliance Bank [5] Liquidity Issues - US bank reserves fell below $3 trillion, with a decrease of approximately $45.7 billion reported, indicating potential implications for the Federal Reserve's quantitative tightening (QT) strategy [6] Earnings Season Insights - Analysts are optimistic about the upcoming earnings season, particularly for major tech companies and AI-related firms, which are expected to drive continued market highs despite macroeconomic uncertainties [7] - Notable companies reporting strong earnings include: - Schlumberger (SLB.US) reported Q3 profits exceeding expectations, driven by North American demand and acquisition benefits [9] - American Express (AXP.US) exceeded Q3 revenue expectations with a 10.8% year-over-year growth, driven by strong demand for its new Platinum card [10] - Interactive Brokers (IBKR.US) reported Q3 revenue of $1.66 billion, a 21% increase year-over-year, attributed to higher customer trading volumes [11] - Oracle (ORCL.US) projected a 35% gross margin for a $60 billion AI infrastructure project, easing concerns about profitability in this sector [12] Major Financing Developments - Meta (META.US) is finalizing a nearly $30 billion financing deal for a data center project, marking a significant private capital transaction [13]

考虑到当前石油市场供应过剩及地缘政治不确定性，斯伦贝谢首席执行官Olivier Le Peuch将本季度业绩 形容为"具备韧性"。 他补充道，随着油气市场供需格局重新平衡，在原油产能持续投资、天然气扩建项目推进及深水业务建 设性前景的支撑下，国际业务有望实现反弹。 另外，斯伦贝谢以77.5亿美元收购同业公司ChampionX的交易完成，也为本季度盈利表现注入新动力。 贝克休斯的最新数据印证了北美油田业务活动的回升态势。作为未来产量先行指标的当地活跃钻机数 量，在第三季度环比增长3%至718台;而国际钻机数量则维持在1080台。 第三季度，占斯伦贝谢总营收约八成的国际业务营收下降7%至69.2亿美元，而北美业务营收则增长14% 至19.3亿美元。截至9月30日的季度内，该公司经调整后每股收益达0.69美元，优于分析师普遍预期的 0.66美元。 智通财经APP获悉，由于北美市场需求的稳定表现以及近期完成收购ChampionX带来的业务贡献，有效 抵消了其他地区油田业务活动的疲软态势，全球最大油田服务公司斯伦贝谢(SLB.US)周五公布了利润 超预期的第三季度业绩。 目前，美国油田市场在经历数月支出缩减后渐趋稳定， ...

Core Insights - The company reported revenue growth in the quarter, indicating positive performance and potential for future growth [1] Financial Performance - Revenue increased during the quarter, showcasing the company's ability to generate higher sales [1]

[Executive Summary](index=1&type=section&id=Executive%20Summary) [Third-Quarter 2025 Financial Highlights](index=1&type=section&id=Third-Quarter%202025%20Financial%20Highlights) SLB's Q3 2025 revenue increased sequentially but declined year-on-year, with GAAP EPS and Net Income down, and Adjusted EBITDA flat sequentially but lower year-on-year, impacted by ChampionX Financial Highlights (Million USD) | Metric | Sept. 30, 2025 (Million USD) | Jun. 30, 2025 (Million USD) | Sept. 30, 2024 (Million USD) | Sequential Change (%) | Year-on-year Change (%) | | :-------------------------------- | :------------- | :------------ | :------------- | :---------------- | :------------------ | | Revenue | $8,928M | $8,546M | $9,159M | **4%** | **-3%** | | Income before taxes - GAAP | $1,000M | $1,285M | $1,507M | **-22%** | **-34%** | | Net income attributable to SLB - GAAP | $739M | $1,014M | $1,186M | **-27%** | **-38%** | | Diluted EPS - GAAP | **$0.50** | **$0.74** | **$0.83** | **-32%** | **-40%** | | Adjusted EBITDA* | $2,061M | $2,051M | $2,343M | **0%** | **-12%** | | Cash flow from operations | $1,680M | N/A | N/A | N/A | N/A | | Free cash flow | $1,100M | N/A | N/A | N/A | N/A | | Quarterly cash dividend | **$0.285 per share** | N/A | N/A | N/A | N/A | [ChampionX Acquisition Impact](index=1&type=section&id=ChampionX%20Acquisition%20Impact) ChampionX added **$579 million** revenue to Q3 2025; excluding it, global revenue declined **2%** sequentially and **9%** year-on-year - **ChampionX acquisition** contributed **$579 million** of **revenue**, **$139 million** of **adjusted EBITDA**, and **$108 million** of **pretax segment operating income** to **Q3 2025** results[3](index=3&type=chunk) - Excluding **ChampionX**, **SLB's Q3 2025** global **revenue decreased 2%** sequentially and **9%** year-on-year[3](index=3&type=chunk) [Management Commentary & Strategic Outlook](index=2&type=section&id=Management%20Commentary%20%26%20Strategic%20Outlook) [Resilience Amidst Evolving Market Dynamics](index=2&type=section&id=Resilience%20Amidst%20Evolving%20Market%20Dynamics) **SLB's** **CEO** noted **Q3** **revenue increased sequentially**, supported by **ChampionX acquisition** and **Digital growth**, despite market challenges, with **International markets** showing **resilience** - **Q3 revenue increased sequentially**, supported by **ChampionX**, **Digital growth**, and **resilient Core business** performance, despite challenging market conditions[7](index=7&type=chunk) - **International markets** are demonstrating **resilience**, with **robust growth** in several **Middle East & Asia** countries, and **OPEC+** production releases expected to support future investment[8](index=8&type=chunk) [Production and Recovery Business Alignment](index=3&type=section&id=Production%20and%20Recovery%20Business%20Alignment) Customers prioritize **production and recovery solutions** for lower-cost decline offset, which **SLB** addresses by leveraging expertise, technology, and **ChampionX acquisition** to expand its presence in this less cyclical market - Customers are prioritizing **production and recovery solutions** to unlock incremental barrels at the lowest possible cost[9](index=9&type=chunk) - **SLB** is leveraging subsurface expertise, production technology, portfolio integration, and digital/AI capabilities to support customers in **production and recovery**[10](index=10&type=chunk) - **ChampionX acquisition** enhances **SLB's** portfolio and expands its presence in the less cyclical production market[11](index=11&type=chunk) [Digital Delivering Differentiated Growth and Margins](index=3&type=section&id=Digital%20Delivering%20Differentiated%20Growth%20and%20Margins) **Digital** is **SLB's fastest-growing business**, transforming the oil and gas industry through AI and data, now reported as a standalone division highlighting its high-margin growth and industry leadership - **Digital** is **SLB's fastest-growing business**, leveraging software, AI, data analytics, automation, and IoT for efficiency, safety, and sustainability[12](index=12&type=chunk)[13](index=13&type=chunk) - **SLB** is reporting **Digital** as a standalone division, emphasizing its high-margin growth and differentiation[14](index=14&type=chunk) [International Markets to Lead Future Activity Rebound](index=3&type=section&id=International%20Markets%20to%20Lead%20Future%20Activity%20Rebound) **SLB** anticipates **International markets** will drive future activity rebound as supply and demand rebalance, supported by sustained investment in oil capacity, gas expansion, and deepwater projects, leading **Q4** **revenue growth** - **International markets** are expected to lead an activity rebound, supported by sustained investment in oil capacity, gas expansion, and deepwater[15](index=15&type=chunk) - **SLB** forecasts **Q4 revenue growth** driven by **International markets**, **Digital**, and a full quarter of **ChampionX** operations[16](index=16&type=chunk) [Key Events & Corporate Actions](index=4&type=section&id=Key%20Events%20%26%20Corporate%20Actions) [Share Repurchase Program](index=4&type=section&id=Share%20Repurchase%20Program) During **Q3 2025**, **SLB** repurchased **3.2 million shares** for **$114 million**, bringing total repurchases for the first nine months of **2025** to **60.0 million shares** for **$2.41 billion** - **Q3 2025**: Repurchased **3.2 million shares** for **$114 million**[17](index=17&type=chunk) - **First nine months of 2025**: Repurchased **60.0 million shares** for **$2.41 billion**[17](index=17&type=chunk) [ChampionX Acquisition Completion](index=4&type=section&id=ChampionX%20Acquisition%20Completion) **SLB** completed the **ChampionX acquisition** on **July 16, 2025**, enhancing its portfolio, technology, and digital leadership, and increasing exposure to the **production and recovery market** - **Acquisition of ChampionX** completed on **July 16, 2025**[18](index=18&type=chunk) - The **acquisition** is expected to **increase SLB's** exposure to the **production and recovery market** and deliver best-in-class workflow integration[18](index=18&type=chunk) [Quarterly Cash Dividend](index=4&type=section&id=Quarterly%20Cash%20Dividend) **SLB's** Board of Directors approved a quarterly cash dividend of **$0.285 per share**, payable on **January 8, 2026**, to stockholders of record on **December 3, 2025** - Board approved a quarterly cash dividend of **$0.285 per share**[19](index=19&type=chunk) [Financial Performance by Geography](index=5&type=section&id=Financial%20Performance%20by%20Geography) [Overall Geographical Revenue](index=5&type=section&id=Overall%20Geographical%20Revenue) **SLB's Q3 2025** revenue of **$8.93 billion** increased **4%** sequentially, driven by **1%** international and **17%** **North America** growth, including **$579 million** from **ChampionX**, but excluding it, international revenue declined **1%** and **North America** revenue declined **7%** sequentially Overall Geographical Revenue (Million USD) | Geography | Sept. 30, 2025 (Million USD) | Jun. 30, 2025 (Million USD) | Sept. 30, 2024 (Million USD) | Sequential Change (%) | Year-on-year Change (%) | | :---------------- | :------------- | :------------ | :------------- | :---------------- | :------------------ | | North America | $1,930M | $1,655M | $1,687M | **17%** | **14%** | | Latin America | $1,482M | $1,492M | $1,689M | **-1%** | **-12%** | | Europe & Africa | $2,434M | $2,369M | $2,434M | **3%** | **0%** | | Middle East & Asia | $3,000M | $2,986M | $3,302M | **0%** | **-9%** | | International Total | $6,916M | $6,847M | $7,425M | **1%** | **-7%** | | North America Total | $1,930M | $1,655M | $1,687M | **17%** | **14%** | | Total Revenue | $8,928M | $8,546M | $9,159M | **4%** | **-3%** | - **ChampionX** contributed **$579 million** to **Q3 2025** **revenue** (**$387 million** in **North America**, **$171 million** in **International markets**)[20](index=20&type=chunk) - Excluding **ChampionX**, **International revenue declined 1%** sequentially and **North America revenue declined 7%** sequentially[20](index=20&

格隆汇10月17日｜斯伦贝谢三季度营收89.3亿美元，预估89亿美元。三季度经调整后每股收益0.69美 元，预估0.66美元。斯伦贝谢仍预计2025年的资本投资约为24亿美元。 ...

SLB beat Wall Street estimates for third-quarter profit on Friday, helped by strong demand for its oilfield equipment and services in North America. ...

ConversationKristen Podagiel My name is Kristen Podagiel. I'm the acting Chairman of PWR Holdings Limited, and I'll chair today's Annual General Meeting. We acknowledge and pay respects to the traditional First Nations people of these lands and waters, and we acknowledge their descendants. We also acknowledge the many Aboriginal people from such regions as the Torres Strait and South Sea Islander people who now live in the local area and have made an important contribution to the community. On behalf of ...