(Oil Price) – The world’s biggest oilfield services provider, SLB (NYSE: SLB), on Friday reported higher-than-expected earnings for the third quarter as revenue from its North American business jumped by 17% from the second quarter and by 14% from a year earlier.
SLB booked adjusted earnings per share (EPS) of $0.69 for the third quarter, lower than the second quarter of 2025 and the third quarter of 2024, but beating the analyst consensus estimate of $0.66 in the Wall Street Journal.
North American revenue jumped for the third quarter of 2025, also thanks to two months of contribution from the acquisition of the ChampionX businesses, SLB said in a statement. The ChampionX businesses contributed revenue of $579 million to SLB, consisting of $387 million in North America and $171 million in the international markets.
But pro forma revenue, assuming that ChampionX was acquired on January 1, 2024, showed that North America revenue would have dropped by 5%, on the back of the divestiture of the APS project in Canada, “coupled with a sharp decline in U.S. land drilling activity, partially offset by growth in data center solutions,” SLB said.
While SLB’s reported North American revenue rose by double digits to $1.93 billion, international revenue was flat quarter-on-quarter and dropped by 7% year-over-year.
Yet, SLB sees international revenue as the key driver of solid results going forward.
“Looking ahead, it is more likely that the international markets will lead an activity rebound when supply and demand rebalance, supported by sustained investment for oil capacity, gas expansion projects and a constructive outlook for deepwater,” SLB’s chief executive officer Olivier Le Peuch said.
“International markets — while facing challenges in some regions — are demonstrating resilience, with several countries across the Middle East and Asia continuing to show robust growth,” the executive added.
“Looking ahead, we expect OPEC+ production releases to support investment across many countries where SLB is well established.”
By Tsvetana Paraskova for Oilprice.com
