SLB's acquisition of ChampionX supplied most of its revenue growth in the third quarter of 2026. Revenue rose 6% from a year earlier to $9.45bn, the oilfield services group reported on 23 October 2026, but only 2% on a pro forma basis, which assumes SLB had owned ChampionX since 1 January 2025. EPS excluding charges and credits was $0.64, up 16% from Q2 2026 but down 7% from $0.69 in Q3 2025. GAAP EPS was $0.49. Adjusted EBITDA was $2.07bn, flat on the year, and the adjusted EBITDA margin narrowed to 21.9% from 23.1%.
- Revenue · Q3 20269.45 $bn
- EPS excluding charges and credits · Q3 20260.64 $
- Revenue growth, pro forma, year on year · Q3 20262 %
- Middle East revenue growth, quarter on quarter · Q3 202613 %
- Free cash flow · Q3 2026828 $m
- Quarterly dividend · 22 October 20260.295 $ per share
Acquisition flatters the annual comparison
| Measure | As reported | Pro forma |
|---|---|---|
| Global revenue | +6% | +2% |
| International revenue | +1% | Flat |
| North America revenue | +24% | +13% |
Source: SLB, Third-Quarter 2026 Results (Form 8-K, Exhibit 99), Q3 2026.
SLB bought ChampionX in July 2025. The acquired businesses contributed $956m of revenue in Q3 2026, against $579m from two months of activity in Q3 2025. ChampionX also drove growth in Production Systems, SLB's largest division, where revenue rose 15% to $4.0bn; on a pro forma basis, that division grew 6%.
Middle East revenue rose 13% from Q2 2026 as activity recovered in Iraq, Kuwait, Oman, Saudi Arabia, Qatar and the United Arab Emirates after conflict-related disruptions in the prior quarter, though SLB said some countries saw renewed disruption in the final weeks of the quarter. On a pro forma basis, Middle East revenue was still 12% lower than in Q3 2025. Data Center Solutions revenue rose 23% from Q2 2026. SLB repurchased 12.9 million shares for $656m in the quarter.
- SLB, Third-Quarter 2026 Results (Form 8-K, Exhibit 99, SEC EDGAR), 23 Oct 2026, 13:04 CEST