Guidance
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자본지출
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SLB
FY2026 Q2
개선
SLB Limited Common Shares 실적 발표
Buzzberg 분석
Q4 revenue to surpass $10 billion
SLB reported a solid Q2 with revenue of $9B, despite Middle East disruptions. Management struck an optimistic tone, guiding Q4 revenue above $10B and EBITDA margin ~24%, driven by deepwater upcycle, Middle East recovery, and data center expansion. Cross-company signals emerged from new partnerships with Meta, Liberty Energy, and NVIDIA, and ongoing customer work with Chevron and BP. Q2 revenue $9B (+3% q/q), EPS $0.55, digital revenue $697M (+9% q/q).
Buzzberg 분석 Q4 revenue to surpass $10 billion SLB reported a solid Q2 with revenue of $9B, despite Middle East disruptions. Management struck an optimistic tone, guiding Q4 revenue above $10B and EBITDA margin ~24%, driven by deepwater upcycle, Middle East recovery, and data center expansion. Cross-company signals emerged from new partnerships with Meta, Liberty Energy, and NVIDIA, and ongoing customer work with Chevron and BP. Q2 revenue $9B (+3% q/q), EPS $0.55, digital revenue $697M (+9% q/q). 전체 분석 보기분석 접기
SLB reported a solid Q2 with revenue of $9B, despite Middle East disruptions. Management struck an optimistic tone, guiding Q4 revenue above $10B and EBITDA margin ~24%, driven by deepwater upcycle, Middle East recovery, and data center expansion. Cross-company signals emerged from new partnerships with Meta, Liberty Energy, and NVIDIA, and ongoing customer work with Chevron and BP. Q2 revenue $9B (+3% q/q), EPS $0.55, digital revenue $697M (+9% q/q).
- Q4 revenue guided to exceed $10B; EBITDA margin ~24%.
- Data center solutions run rate expected to surpass $2B annualized by 2027 exit.
- Deepwater FIDs up ~30% y/y in 2026, supporting a multi-year offshore growth cycle.
DIGITAL 매출$0.697B보고값
MIDDLE_EAST 매출$1.66B보고값
PRODUCTION_SYSTEMS 매출$3.8B보고값
RESERVOIR_PERFORMANCE 매출$1.6B보고값
근거 있는 핵심 내용 6개
지금 중요한 점
이번 발표에서 가장 의미 있는 변화를 정리했습니다.
AI
Data center exit rate >$2 billion by 2027
Demand
Long-cycle FIDs up 30% year-on-year
핵심 내용 3개 더 보기
Margins
Production Systems margins back above 20%
Capital return
Returning over $4 billion to shareholders in 2026
Risk
Downside risk: $150M revenue hit if Middle East flat
보고 기간
보고 실적
| 지표 | 보고값 | 변화 |
|---|---|---|
| DIGITAL 매출 | $0.697B | 보고값 |
| MIDDLE_EAST 매출 | $1.66B | 보고값 |
| PRODUCTION_SYSTEMS 매출 | $3.8B | 보고값 |
| RESERVOIR_PERFORMANCE 매출 | $1.6B | 보고값 |
| 매출 | $8.972B | +3% 전분기 대비 |
| WELL_CONSTRUCTION 매출 | $2.7B | 보고값 |
향후 전망
향후 가이던스
| 지표 | 기간 | 범위 | 중간값 | 상태 |
|---|---|---|---|---|
| 자본지출 | FY2026 | $2.5B | $2.5B | 유지 |
| 영업이익률 | FY2026 Q4 | 24% | 24% | 제시 |
| 매출 | FY2026 Q4 | $10B | $10B | 제시 |
| 매출DATA_CENTER | FY2027 | $2B | $2B | 상향 |
AI, 자본지출 및 수요 분석
경영진 분석
confident
Management conveyed a confident tone despite Middle East disruptions, driven by a compelling outlook for 2027 fueled by international growth, deepwater rebound, and data center expansion. No notable shift from prior calls.
경영진의 AI 분석
Management discussed AI as a key growth driver, with digital operations and AI expected to build strong momentum across the industry, and data center solutions expanding into infrastructure for the AI economy, targeting an annualized revenue run rate exceeding $2 billion by end of 2027.
투자 및 생산능력
Stephane stated capital investments remain on track at approximately $2.5 billion for the full year, with no change in spend. The data center business is described as capital-light with strong free cash flow generation.
아래에 언급된 기업 7개 모두 표시
기업발표 이후 수익률
고객
고객
Olivier Le Peuch
SLB is providing services to Chevron in Venezuela under a license, supporting production recovery and scaling up operations.
근거
“working under the Orphic License with an IOC, Chevron, and I think having a large scope to support them.”
파트너
파트너
Olivier Le Peuch
SLB is partnering with Meta on a gigawatt-scale data center in Canada, expanding SLB's role in design, engineering, and system integration.
근거
“exemplified by the recent announcement with Meta.”
파트너
Olivier Le Peuch
SLB and Liberty Energy are collaborating on power generation solutions for data centers, leveraging Liberty's behind-the-meter technology.
근거
“alliance with Liberty Energy that will combine SLB modular infrastructure solution and global market reach with Liberty behind the meter power generation system”
파트너
Olivier Le Peuch
SLB has an alliance with BP (and potentially others) for subsea development and early-stage design, aiming to optimize field architecture.
근거
“alliance with Econo and BP particularly to develop and to work side by side in early fit and design”
파트너
Olivier Le Peuch
SLB's data center solutions offering now includes design and engineering capabilities, as demonstrated by an announcement with NVIDIA.
근거
“as you have seen from the NVIDIA announcement”
공급망
공급망
Olivier Le Peuch
Data center solutions backlog is growing ahead of expectations, leading to confidence in a >$2 billion annualized exit run rate by 2027. — Signals accelerating demand for modular data center infrastructure, potentially straining supply chains and benefiting peers like Vertiv.
근거
“Our backlog growing ahead of expectations, with new contract awards, strong customer engagement, and international expansion.”
외부 신호
공급망 알파 · 2발표 이후 수익률
Data center solutions backlog is growing ahead of expectations, leading to confidence in a >$2 billion annualized exit run rate by 2027.
Middle East conflict-related cost inflation in chemicals is pressuring ChampionX margins, but volume synergies are offsetting it.
근거
“despite some inflationary pressure we have on chemicals that mostly come from the Middle East conflict by the way”
방법론 및 범위
경영진 발언만 분석합니다. 검증된 기업 언급 7개를 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.