By Connor Hart
SLB logged higher revenue in the fourth quarter and said some of the challenges it faced last year are behind it, as the Houston company stands to benefit from increasing international activity.
The oilfield-services company, formerly known as Schlumberger, on Friday posted a profit of $824 million, or 55 cents a share, compared with $1.10 billion, or 77 cents a share, in the same quarter last year.
Stripping out one-time costs, earnings were 78 cents a share. Analysts surveyed by FaceSet expected adjusted earnings of 74 cents a share.
Revenue climbed 5% to $9.75 billion, topping Wall Street models for $9.55 billion.
International revenue ebbed 0.4% to $7.45 billion, though the decline was more than offset by North American revenue, which jumped 26% to $2.21 billion.
Chief Executive Olivier Le Peuch said last year was challenging, marked by lower commodity prices, geopolitical uncertainty and an oversupplied oil market. Some of those challenges, though, are in the past.
"As we move into 2026, we believe that the headwinds we experienced in key regions in 2025 are behind us," Le Peuch said. "In particular, we expect rig activity in the Middle East to increase compared to today's level, and our footprint in the region puts us in a strong position to benefit from this recovery."
SLB also stands to benefit from surging interest in Venezuelan oil, after President Trump called on U.S. oil companies to invest heavily in the country. Trump has made increased oil production central to his plans for Venezuela following the U.S. incursion earlier this month that deposed strongman Nicolás Maduro.
While U.S. oil producers have expressed hesitancy about rushing back into Venezuela, the companies that provide them with equipment and expertise, such as SLB, are positioning themselves for what could be years of work rehabilitating the country's oil fields, pipelines and export infrastructure, The Wall Street Journal reported.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
January 23, 2026 07:12 ET (12:12 GMT)
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