SLB reported fourth-quarter earnings per share of $0.78, surpassing consensus estimates of $0.74. While this result beat expectations, it represents a 15% decline compared with the $0.92 recorded in Q4 of the prior year. Management emphasized that ongoing strategic investments in digital technologies and cost optimization initiatives helped mitigate the impact of softer pricing in certain international markets.

Total revenues reached $9.75 billion, up 9% sequentially and 5% year-over-year. Strong demand for oilfield equipment and services in North America contributed roughly half of the quarterly increase, while SLB’s Digital segment delivered double-digit revenue growth as clients accelerated deployments of sensor-based drilling solutions and real-time data analytics platforms. Production Systems also posted healthy gains, offsetting weaker activity in select international territories.

On a GAAP basis, income before taxes amounted to $943 million, down 6% sequentially and 32% year-over-year. The income before taxes margin contracted to 9.7%, compared with 11.2% in Q3 and 14.9% in Q4 of the previous year. SLB attributed the margin decline to mix shifts toward lower-margin service lines in some regions and incremental inflationary costs. Net income attributable to SLB climbed to $824 million from $739 million in the prior quarter as tax rate benefits partially offset operating pressures.

SLB announced an increase in its quarterly dividend and committed to returning more than $4 billion to shareholders in 2026 through dividends and share repurchases. The decision reflects management’s confidence in free-cash-flow generation and balance-sheet strength. At the end of Q4, SLB’s debt-to-equity ratio stood at approximately 0.50, underscoring a moderate leverage profile ahead of planned capital returns.