SLB's Financial Performance in Q1 2025

Schlumberger NV, now operating as SLB, disclosed its first-quarter financial results for fiscal 2025, revealing a 3% year-on-year revenue decline to $8.49 billion. This figure slightly fell short of market expectations, marking a challenging start to the year for the global oilfield services giant.

Net Income and EPS See Significant Drops

The company's net income experienced a sharp 25% decrease compared to the same period in 2024, totaling $797 million. Diluted earnings per share (EPS) also saw a 22% annual decline, settling at $0.58 for the quarter.

CEO Olivier Le Peuch on the Quarterly Results

"The year began on a subdued note with a 3% revenue drop year on year. Despite higher activity in regions like the Middle East, North Africa, Argentina, and offshore US, and robust growth in our data center infrastructure solutions and digital businesses in North America, these gains were outweighed by unexpected slowdowns in Mexico, a sluggish start in Saudi Arabia and offshore Africa, and a steep decline in Russia," explained CEO Olivier Le Peuch.

Market Reaction

Following the announcement, SLB's shares dipped by 1.92% in premarket trading, reaching $34.26 per share at 6:54 am ET.