SLB Ltd

SLB: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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SLB Earnings: Well-Positioned to Outperform Peers With Innovation Solutions

Joshua Aguilar , Christian Fleming

Apr 27, 2026

SLB's first-quarter revenue of $8.7 billion was up 3% year on year, aided by the acquisition of ChampionX. Still, adjusted EBITDA margin declined 346 basis points year on year to 20.3%. The conflict in the Middle East posed a meaningful margin headwind due to volume deleverage from shut-ins.

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SLB Ltd

SLB Earnings: Well-Positioned to Outperform Peers With Innovation Solutions

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