SLB Stock Rises on Earnings Beat as Strong Activity Offsets Middle East Disruption -- Barrons.com

By Kit Norton

Shares of SLB rose Friday after the oilfield services company surpassed Wall Street's expectations with its second-quarter earnings as offshore drilling activity offset ongoing weakness in the Middle East.

SLB stock advanced 2.3% to $48.30 in premarket trading on Friday after ending Thursday down nearly 1%. Shares have risen 23% this year.

The company posted adjusted earnings of 55 cents a share, down from 74 cents a year ago but above Wall Street expectations of 51 cents. Revenue grew 5% to $8.97 billion, beating the analyst consensus call for $8.67 billion, according to FactSet.

SLB CEO Oliver Le Peuch said in an earnings release that second-quarter earnings were bolstered by broad sequential revenue growth in international markets which "more than offset the impact of continued disruptions in the Middle East."

The performance was led by offshore drilling activity in Latin America along with Europe, Africa, and Asia. SLB also reported an uptick in demand in the U.S. for production and oil recovery.

Write to Kit Norton at kit.norton@barrons.com

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July 24, 2026 07:37 ET (11:37 GMT)