Guidance
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AI
자본지출
A1
SLB
FY2026 Q1
개선
SLB Limited Common Shares 실적 발표
Buzzberg 분석
Middle East conflicts cause revenue and earnings decline in Q1
SLB's Q1 2026 was disrupted by the Middle East conflict, with revenue down 10.5% sequentially and margins compressed. Management sees a gradual recovery starting in Q2 and a strong long-term demand cycle driven by energy security, higher oil prices, and the need to replenish lost production. Digital, data centers, and production recovery are strategic growth pillars. Middle East conflict caused ~$200M revenue shortfall in Q1; recovery expected to be gradual with an incremental 6-8c EPS headwind in Q2 partially offset by international growth.
Buzzberg 분석 Middle East conflicts cause revenue and earnings decline in Q1 SLB's Q1 2026 was disrupted by the Middle East conflict, with revenue down 10.5% sequentially and margins compressed. Management sees a gradual recovery starting in Q2 and a strong long-term demand cycle driven by energy security, higher oil prices, and the need to replenish lost production. Digital, data centers, and production recovery are strategic growth pillars. Middle East conflict caused ~$200M revenue shortfall in Q1; recovery expected to be gradual with an incremental 6-8c EPS headwind in Q2 partially offset by international growth. 전체 분석 보기분석 접기
SLB's Q1 2026 was disrupted by the Middle East conflict, with revenue down 10.5% sequentially and margins compressed. Management sees a gradual recovery starting in Q2 and a strong long-term demand cycle driven by energy security, higher oil prices, and the need to replenish lost production. Digital, data centers, and production recovery are strategic growth pillars. Middle East conflict caused ~$200M revenue shortfall in Q1; recovery expected to be gradual with an incremental 6-8c EPS headwind in Q2 partially offset by international growth.
- Data center solutions grew 45% YoY, on track to $1B run rate by year-end 2026; new NVIDIA design partnership signals expanding scope.
- Digital revenue up 9% YoY; annual recurring revenue reached $1.02B; management expects full-year 35% EBITDA margin.
- Production recovery and ChampionX integration are performing well, with ChampionX margins accretive to SLB in Q1.
매출$8.721B-11% 전분기 대비
주당순이익(EPS)$0.52-33% 전분기 대비
매출총이익률15.26%보고값
영업이익률11.8%보고값
근거 있는 핵심 내용 6개
지금 중요한 점
이번 발표에서 가장 의미 있는 변화를 정리했습니다.
Macro
Expects oil prices to settle above pre-conflict baseline
Data Centers
Data center solutions grew 45% year-on-year
핵심 내용 3개 더 보기
AI
Automated footage drilling increased 145% year-on-year
Data Centers
Data center run rate exit year at $1 billion
Guidance
Q2 earnings impacted by incremental Middle East costs
보고 기간
보고 실적
| 지표 | 보고값 | 변화 |
|---|---|---|
| 매출 | $8.721B | -11% 전분기 대비 |
| 주당순이익(EPS) | $0.52 | -33% 전분기 대비 |
| 매출총이익률 | 15.26% | 보고값 |
| 영업이익률 | 11.8% | 보고값 |
| 잉여현금흐름 | $0.144B | 보고값 |
| 자본지출 | $0.343B | 보고값 |
향후 전망
향후 가이던스
| 지표 | 기간 | 범위 | 중간값 | 상태 |
|---|---|---|---|---|
| 자본지출 | FY2026 | $2.5B | $2.5B | 제시 |
AI, 자본지출 및 수요 분석
경영진 분석
Measured
Management acknowledged significant near-term challenges from Middle East disruptions and cost pressures, but expressed confidence in the long-term investment cycle and strategic growth areas like digital and data centers.
경영진의 AI 분석
Management emphasized strong momentum in digital and AI, citing 145% growth in automated footage drilling year-on-year and a new partnership with NVIDIA for DSX AI factories, with data center solutions growing 45% year-on-year. They see AI as a key driver of differentiation and long-term value creation, with digital expected to become an increasing contributor to growth.
투자 및 생산능력
Management maintained full-year capital investments guidance of approximately $2.5 billion, with no material adjustments to the cost base despite Middle East disruptions. They continue to invest in digital, data center solutions, and production recovery to drive long-term growth.
아래에 언급된 기업 4개 모두 표시
기업발표 이후 수익률
고객
고객
Olivier Lepuche
SLB was selected by NVIDIA as a modular design partner for DSX AI factories, indicating NVIDIA is moving to modular, offsite-manufactured infrastructure to accelerate its AI factory build-out for the Rubin/Vera generation. — NVIDIA's reliance on modular partners could shorten deployment timelines and reduce construction risk for its AI data centers, potentially boosting hardware demand and capex efficiency.
근거
“As you saw with our recent announcement to serve as a modular design partner for NVIDIA DSX AI factories.”
고객
Olivier Lepuche
SLB is deepening its subsea lifecycle services relationship with Equinor, indicating sustained long-cycle investment in the Norwegian Continental Shelf.
근거
“We have seen one more announcement that we are continuing to innovate and to enhance the project we have in Goldfax with Equinor in Norway.”
고객
Olivier Lepuche
BP is collaborating with SLB on integrated subsea projects, aligning with BP's strategy to enhance deepwater recovery and production efficiency.
근거
“this is through with the partner we have with Equinor and with BP.”
파트너
파트너
Olivier Lepuche
S&P Global Energy is divesting its upstream petrotechnical software suite, signaling a strategic pivot away from direct software competition and opening an opportunity for SLB to expand in North American unconventional workflows.
근거
“we have come to an agreement with S&P Global Energy to acquire, actually, their upstream petrotechnical software suite.”
외부 신호
공급망 알파 · 1발표 이후 수익률
SLB was selected by NVIDIA as a modular design partner for DSX AI factories, indicating NVIDIA is moving to modular, offsite-manufactured infrastructure to accelerate its AI factory build-out for the Rubin/Vera generation.
근거
“NVIDIA has chosen us, has selected us as their design partner for the DSX AI factory.”
방법론 및 범위
경영진 발언만 분석합니다. 검증된 기업 언급 4개를 모두 표시하며, 보고 실적과 향후 가이던스를 분리합니다. 공개 근거는 화자가 표시된 짧은 인용문 8개로 제한됩니다. AI 분석은 불완전하거나 틀릴 수 있으므로 중요한 주장은 원문에서 확인하세요.