SLB delivered fourth-quarter adjusted earnings per share of $0.78, outperforming the consensus estimate of $0.74. While this represented a year-over-year decline from $0.92, the result underscored SLB’s ability to exceed market expectations even as global drilling activity remained uneven. Revenue for the quarter rose 9% sequentially and 5% year-over-year to $9.75 billion, driven primarily by robust demand in North America and stabilizing offshore markets.

Digital & Integration Solutions led the upside, with segment revenue climbing 12% year-over-year on increased adoption of reservoir data analytics and real-time monitoring services. Production Systems also posted a mid-single-digit gain as equipment orders in natural gas plays accelerated. In contrast, Drilling & Measurements saw a modest decline, pressured by maintenance cycles in the North Sea and project delays in Latin America.

On a GAAP basis, income before taxes declined 32% year-over-year to $943 million, and the pre-tax margin contracted to 9.7% from 14.9% a year ago. Sequentially, pre-tax margin fell from 11.2%. However, net income attributable to SLB rose to $824 million from $739 million in the prior quarter, supported by lower interest expense and tax rate benefits. The company’s debt-to-equity ratio remained near 0.50, reflecting a balanced capital structure.

SLB announced a quarterly dividend increase and reaffirmed plans to return over $4 billion to shareholders in 2026 through dividends and share repurchases. Management highlighted opportunities for international growth, citing potential new contracts in Venezuela pending regulatory approvals and expanded drilling projects offshore Guyana. The board indicated confidence in sustaining free cash flow generation above $3 billion annually under current oil-price scenarios.