Schlumberger Q2 2025 Earnings Preview: Weak drilling activity, sector headwinds to weigh

SLB (NYSE:SLB) is scheduled to announce Q2 earnings results on Friday, July 18th, before market open.

Wall Street, on average, expects the oilfield services provider to post a quarterly EPS of $0.73 (-14.1% Y/Y) on revenue of $8.5B (-7.0% Y/Y).

SLB missed first-quarter profit estimates, citing weaker demand in Latin America and warning of a potential industry shift amid economic uncertainty, volatile oil prices, and rising tariff risks.

The company expects Q2 revenues and core profit to come in roughly the same as Q1 due in part to weaker than expected drilling activity in Saudi Arabia and Latin America. SLB also sees Q2 EBITDA coming in flat compared to Q1, down slightly from the company’s guidance issued during Q1.

Most recently, SLB completed its acquisition of ChampionX (CHX) after the U.K. Competition and Markets Authority cleared the $8B acquisition as the company accepted commitments to address competition concerns.

“While the demand environment is expected to remain soft for some time, and there is a material risk of further deterioration, SLB now appears attractively priced for long-term investors, particularly given that SLB’s business has changed significantly in recent years,” pointed out a recent Seeking Alpha analysis.

Over the last 2 years, SLB has beaten EPS estimates 88% of the time and has beaten revenue estimates 50% of the time.

Over the last 3 months, EPS estimates have seen 0 upward revisions and 11 downward. Revenue estimates have seen 0 upward revisions and 10 downward.

Since the start of the year, SLB shares have fallen 9.7%, compared to the 6.5% rise in the broader S&P 500 index (SP500).

Seeking Alpha’s Quant recommended the stock as a Hold, while the Wall Street analysts see the company as a Strong Buy.