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SLB (NYSE: SLB) today announced results for the first-quarter 2026.

First-Quarter Results

To view the table, please visit https://www.businesswire.com/news/home/20260422463846/en/

First Quarter Shaped by Geopolitical Developments

“It was a challenging start to the year as widespread disruptions in the Middle East impacted our business,” said SLB Chief Executive Officer Olivier Le Peuch.

“The impact was most pronounced in Well Construction and Reservoir Performance, as SLB demobilized operations in a number of countries in response to customer actions to safeguard personnel and facilities.

“Beyond the Middle East, revenue increased year on year in all other markets driven mainly by the impact of our strategic moves regarding ChampionX, Digital, and Data Center Solutions,” Le Peuch said.

ChampionX Delivers Accretive Growth on Strong Production and Recovery Activity

“Overall, first-quarter year-on-year revenue increased 3%. This was primarily driven by the addition of ChampionX, which continues to deliver revenue growth and progressive margin expansion. Notably, Production Systems revenue increased 23% year on year, led by production chemicals and artificial lift.

“Production and recovery represent the most immediate path to incremental barrels, and as customers continue to prioritize energy security and national resource development, investment in this space is set to grow. The addition of ChampionX has strengthened our position in this market, particularly in North America, where we will support the next chapter in U.S. unconventional through the use of tailored reservoir chemistry to enhance recovery,” Le Peuch said.

Digital and Data Center Solutions Enhance Growth Mix

“Digital revenue increased 9% year on year, supported by continued momentum in Digital Operations. Digital annualized recurring revenue (ARR) once again exceeded $1 billion at the end of the first quarter and represented a 15% increase year on year. Our customers are seeing the impact of AI and digital in terms of performance and efficiency, and this will result in further adoption of these solutions. Meanwhile, Data Center Solutions experienced a remarkable 45% uplift, highlighting the effectiveness of SLB's modular and scalable off-site manufacturing capabilities.

“There is a growing opportunity for SLB at the intersection of Digital and Data Center Solutions as we build on our existing relationships with hyperscalers and digital partners. Our progress was underscored by the recently announced expansion of our technology collaboration with NVIDIA to design and deploy critical AI infrastructure as well as develop an ‘AI Factory for Energy’