Digital Growth
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SLB
FY2025 Q3
В пределах ожиданий
Отчётный звонок SLB Limited Common Shares
Вывод Buzzberg
SLB expects digital revenue to grow at double-digit pace above core business
SLB reported Q3 2025 revenue of $8.9B and EPS of $0.69, with strong performance from the newly acquired ChampionX and accelerating digital growth. Management maintained H2 revenue guidance and expects Q4 sequential improvement. The call highlighted the new digital segment structure and the expansion of data center solutions as a diversification play. ChampionX contributed $579M revenue and $108M pre-tax income in two months, exceeding expectations; full quarter in Q4 will boost results.
Вывод Buzzberg SLB expects digital revenue to grow at double-digit pace above core business SLB reported Q3 2025 revenue of $8.9B and EPS of $0.69, with strong performance from the newly acquired ChampionX and accelerating digital growth. Management maintained H2 revenue guidance and expects Q4 sequential improvement. The call highlighted the new digital segment structure and the expansion of data center solutions as a diversification play. ChampionX contributed $579M revenue and $108M pre-tax income in two months, exceeding expectations; full quarter in Q4 will boost results. Читать полный анализСвернуть анализ
SLB reported Q3 2025 revenue of $8.9B and EPS of $0.69, with strong performance from the newly acquired ChampionX and accelerating digital growth. Management maintained H2 revenue guidance and expects Q4 sequential improvement. The call highlighted the new digital segment structure and the expansion of data center solutions as a diversification play. ChampionX contributed $579M revenue and $108M pre-tax income in two months, exceeding expectations; full quarter in Q4 will boost results.
- Digital division revenue grew 11% sequentially; automated drilling footage up >50% YoY; full-year EBITDA margin expected at 35%.
- Data center solutions revenue more than doubled YoY; expansion beyond US and to new customers is planned.
- Deepwater rig activity projected to bottom in Q4 2025 and gradually strengthen into 2026-2027.
Выручка$8.928BФакт
EPS$0.69Факт
Валовая маржа17.45%Факт
Операционная маржа14.74%Факт
6 подтверждённых тезисов
Что важно сейчас
Самые значимые изменения по итогам звонка.
Data Centers
Data center revenue more than doubled year-on-year, expanding beyond US
Strategy
Production recovery now a strategic focus; ChampionX integration ahead of expectations
Показать ещё 3 тезиса
Macro
International markets to lead future activity rebound, North America muted
International
Saudi Arabia activity expected to rebound in first half of 2026
Digital
Digital ARR to hit $1 billion next year; Q4 margins to reach 35%
Отчётный период
Фактические результаты
| Показатель | Факт | Изменение |
|---|---|---|
| Выручка | $8.928B | Факт |
| EPS | $0.69 | Факт |
| Валовая маржа | 17.45% | Факт |
| Операционная маржа | 14.74% | Факт |
| Свободный денежный поток | $1.222B | Факт |
| Капзатраты | $0.46B | Факт |
Прогнозные данные
Прогноз компании
| Показатель | Период | Диапазон | Середина | Статус |
|---|---|---|---|---|
| Капзатраты | FY2025 | $2.4B | $2.4B | Подтверждён |
| Операционная маржаDIGITAL | FY2025 | 35% | 35% | Обозначен |
| Выручка | FY2025 | $18.2B–$18.8B | $18.5B | Подтверждён |
AI, капзатраты и спрос
Оценка менеджмента
Confident
Management expressed confidence in the resilience of their portfolio, the growth potential of digital and production recovery, and their positioning for a future market rebound.
Оценка AI от менеджмента
Management emphasized AI as a transformative force in the industry, citing early adoption of its Lumi data and AI platform with over 50 customers in less than a year and a collaboration with AIQ to deploy agentic AI for AdNoc. They view AI as a key growth driver for their digital business, which they expect to continue outperforming the market.
Инвестиции и мощности
Management reiterated full-year capital investments of approximately $2.4 billion, including ChampionX. They noted that the data center solutions business is low capex intensity, and emphasized that digital business has no capex except for exploration data.
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Компании
Цепочка поставок
Цепочка поставок
Stéphane Begay
ChampionX's contribution exceeded expectations, showing strong integration progress and margin accretion for SLB.
Доказательства
“ChampionX contributed $579 million of revenue and $108 million of pre-tax income in the quarter.”
Внешние сигналы
Альфа цепочки поставок · 2
Automated drilling footage increased more than 50% year-on-year, indicating rapid adoption of autonomous drilling capabilities.
Доказательства
“automated drilling footage increased by more than 50% year-on-year.”
Data center solutions revenue more than doubled year-on-year, and management sees expansion beyond the US and to new customers.
Доказательства
“This quarter marks the first time we have disclosed our data center revenue, which has more than doubled year on year Looking ahead, we foresee expansion beyond the US, along with the onboarding of new customers.”
Методология и полнота
Анализ основан только на заявлениях менеджмента. Показаны все подтверждённые упоминания компаний: 1. Фактические результаты и прогнозы разделены. Публичные доказательства ограничены восемью короткими атрибутированными цитатами. AI-анализ может быть неполным или ошибочным — проверяйте важные утверждения по первоисточнику.