SLB Gears Up to Report Q1 Earnings: What's in Store for the Stock?
SLB SLB is set to report first-quarter 2026 results on April 24, 2026, before the opening bell.
In the last reported quarter, its adjusted earnings of 78 cents per share beat the Zacks Consensus Estimate of 74 cents, primarily driven by stabilized upstream activity globally and revenue increases in the Digital segment.
The company missed the Zacks Consensus Estimate for earnings in one of the trailing four quarters and beat thrice, delivering an average surprise of 2.2%. This is depicted in the graph below:
Estimate Trend for SLB
The Zacks Consensus Estimate for first-quarter earnings per share of 51 cents has seen downward revisions in the past seven days. The estimated figure indicates a 29.2% decline from the prior-year reported figure.
The Zacks Consensus Estimate for revenues is pegged at $8.63 billion, indicating an increase of 1.6% from the year-ago recorded figure.
Factors to Consider for SLB's Q1 Results
SLB is a prominent name in the oilfield services industry, providing a comprehensive range of services to the oil and gas industry. As an oilfield services provider, SLB’s business model is highly exposed to commodity price volatility. According to data from the U.S. Energy Information Administration (“EIA”), the quarter began with subdued oil prices, as the Cushing, OK, WTI Spot Price averaged $60.04 and $64.51 in January and February, respectively, significantly lower than the $75.74 and $71.53 recorded in the same period of 2025. This weakening is likely to have slowed down the pace of drilling activity, creating potential headwinds for SLB's performance early in the quarter.
However, the situation reversed sharply in March 2026, with prices surging to an average of $91.38 per barrel, according to the EIA, compared with $68.24 per barrel in the year-ago month, amid the Middle East conflict that commenced in late February 2026. This is anticipated to have strengthened demand for SLB’s oilfield services, mitigating the early-quarter weakness and likely bolstering SLB's overall performance by the end of the quarter.
Earnings Whispers for SLB
Our proven model does not conclusively predict an earnings beat for SLB this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that is not the case here, as you will see below.
Earnings ESP of SLB: SLB has an Earnings ESP of -3.25%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
SLB'S Zacks Rank: SLB currently carries a Zacks Rank #3.
Stocks to Consider
Here are some stocks that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
ConocoPhillips COP currently has an Earnings ESP of +9.91% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
ConocoPhillips is scheduled to release first-quarter 2026 earnings on April 30, 2026. The Zacks Consensus Estimate for COP’s earnings is pegged at $1.68 per share, indicating a 19.6% decrease from the prior-year reported figure.
Diamondback Energy, Inc. FANG currently has an Earnings ESP of +10.00% and a Zacks Rank #2.
Diamondback is set to release first-quarter 2026 earnings on May 4, 2026. The Zacks Consensus Estimate for FANG’s earnings is pegged at $3.31 per share, indicating a 27.1% decline from the prior-year reported figure.
EOG Resources, Inc. EOG currently has an Earnings ESP of +3.72% and a Zacks Rank #3.
EOG is set to release first-quarter 2026 earnings on May 6, 2026. The Zacks Consensus Estimate for EOG’s earnings is pegged at $3.02 per share, indicating an improvement of 5.2% from the prior-year reported figure.
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