SLB Ltd

SLB: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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SLB Earnings: Strong Quarter and Guidance; Portfolio Well Positioned to Outperform Industry

Joshua Aguilar

Oct 23, 2026

SLB grew third-quarter sales 5% sequentially and 6% year on year, while adjusted EBITDA margin grew 71 basis points sequentially. Sales were roughly in line, though margin improved more than we earmarked. Digital annual recurring revenue rose 13% year on year while data center grew 23% sequentially.

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SLB Ltd

SLB Earnings: Strong Quarter and Guidance; Portfolio Well Positioned to Outperform Industry

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