SLB's Q1 Financial Performance Highlights

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

Net Income and EPS See Significant Drops

The company's net income witnessed a 25% decrease compared to the same period in 2024, settling at $797 million. Similarly, diluted earnings per share (EPS) experienced a 22% annual decline, reaching $0.58 in the reported quarter.

CEO Olivier Le Peuch on Q1 Challenges

"The first quarter presented a mixed bag of results," stated CEO Olivier Le Peuch. He highlighted increased activity in the Middle East, North Africa, Argentina, and offshore US, alongside growth in data center infrastructure solutions and digital businesses in North America. However, these gains were overshadowed by unexpected slowdowns in Mexico, a sluggish start in Saudi Arabia and offshore Africa, and a sharp decline in Russia.

Market Reaction

Following the announcement, SLB's shares dipped by 1.92% in premarket trading, with the stock price adjusting to $34.26 per share.