SLB Reports a 3% Decline in Q1 Revenue

Schlumberger NV, now operating as SLB, disclosed a 3% year-on-year decrease in its first-quarter revenue for fiscal 2025, totaling $8.49 billion. This figure slightly fell short of market expectations.

Net Income and EPS See Significant Drops

The company's net income witnessed a sharp 25% decline from the first quarter of 2024, settling at $797 million. Similarly, diluted earnings per share (EPS) experienced a 22% annual decrease, reaching $0.58.

CEO Olivier Le Peuch on Q1 Performance

"The year began on a subdued note with a 3% revenue drop. While we saw increased activity in the Middle East, North Africa, Argentina, and offshore US, alongside robust growth in our North American data center infrastructure solutions and digital sectors, these gains were overshadowed 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, with the stock price adjusting to $34.26 per share.