SLB reported fourth-quarter earnings per share of 0.78, exceeding the consensus estimate by 5 cents, while generating revenues of 9.75 billion—up 9% sequentially and 5% year-over-year. The top-line was driven by robust activity in North America, where land drilling days increased by 12% compared with Q3. This marks SLB’s seventh consecutive quarter of revenue growth, reflecting sustained demand for its oilfield services and technologies.

Digital & Integration led the upturn, delivering 14% revenue growth versus the prior quarter, as customers accelerated deployments of real-time monitoring solutions and cloud-based analytics. Production Systems contributed a 10% sequential increase, supported by roll-out of high-pressure pumping services in shale plays. Reservoir Performance was flat sequentially, weighed down by lower offshore project awards in the North Sea, though activity in the Middle East improved by 8%.

GAAP income before taxes declined 6% sequentially to 943 million, with the pre-tax margin slipping to 9.7% from 11.2% in Q3. On a non-GAAP basis, adjusted operating profit rose 3%, lifting segment operating margins by 150 basis points to 18.5%. Cost-control measures, including headcount optimization and supply-chain initiatives, offset higher raw-material expenses. Net income attributable to SLB increased 11% quarterly to 824 million, reflecting a lower effective tax rate compared with the prior period.

SLB’s board approved a dividend increase of 10% and reiterated a plan to return over 4 billion to shareholders in 2026 through dividends and share repurchases. Management highlighted improving visibility in international markets, particularly in Latin America and the Middle East, where tender pipelines have lengthened by 20% year over year. SLB expects full-year 2026 capital expenditures to be in line with depreciation, as it prioritizes free-cash-flow generation and further debt reduction.