Guidance
← Отчётные звонки
01
02
03
04 05 06
Тон
AI
Капзатраты
A1
SLB
FY2026 Q1
Улучшается
Отчётный звонок SLB Limited Common Shares
Вывод Buzzberg
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.
Вывод Buzzberg 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. Читать полный анализСвернуть анализ
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.
Выручка$8.721B-11% к/к
EPS$0.52-33% к/к
Валовая маржа15.26%Факт
Операционная маржа11.8%Факт
6 подтверждённых тезисов
Что важно сейчас
Самые значимые изменения по итогам звонка.
Macro
Expects oil prices to settle above pre-conflict baseline
Data Centers
Data center solutions grew 45% year-on-year
Показать ещё 3 тезиса
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
Отчётный период
Фактические результаты
| Показатель | Факт | Изменение |
|---|---|---|
| Выручка | $8.721B | -11% к/к |
| EPS | $0.52 | -33% к/к |
| Валовая маржа | 15.26% | Факт |
| Операционная маржа | 11.8% | Факт |
| Свободный денежный поток | $0.144B | Факт |
| Капзатраты | $0.343B | Факт |
Прогнозные данные
Прогноз компании
| Показатель | Период | Диапазон | Середина | Статус |
|---|---|---|---|---|
| Капзатраты | FY2026 | $2.5B | $2.5B | Обозначен |
AI, капзатраты и спрос
Оценка менеджмента
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.
Оценка AI от менеджмента
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.
Инвестиции и мощности
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.
все упомянутые компании ниже: 4
Компаниис момента звонка
Клиенты
Клиенты
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.
Доказательства
“As you saw with our recent announcement to serve as a modular design partner for NVIDIA DSX AI factories.”
Клиенты
Olivier Lepuche
SLB is deepening its subsea lifecycle services relationship with Equinor, indicating sustained long-cycle investment in the Norwegian Continental Shelf.
Доказательства
“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.”
Клиенты
Olivier Lepuche
BP is collaborating with SLB on integrated subsea projects, aligning with BP's strategy to enhance deepwater recovery and production efficiency.
Доказательства
“this is through with the partner we have with Equinor and with BP.”
Партнёры
Партнёры
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.
Доказательства
“we have come to an agreement with S&P Global Energy to acquire, actually, their upstream petrotechnical software suite.”
Внешние сигналы
Альфа цепочки поставок · 1с момента звонка
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.
Доказательства
“NVIDIA has chosen us, has selected us as their design partner for the DSX AI factory.”
Методология и полнота
Анализ основан только на заявлениях менеджмента. Показаны все подтверждённые упоминания компаний: 4. Фактические результаты и прогнозы разделены. Публичные доказательства ограничены восемью короткими атрибутированными цитатами. AI-анализ может быть неполным или ошибочным — проверяйте важные утверждения по первоисточнику.