Name: SLB N.V. (NYSE:SLB) | Income Statement (Quarterly)
Creator: Stock Analysis on Net

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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SLB N.V., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Sep 30, 2026	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021
Services	5,073)	5,200)	4,919)	5,355)	5,152)	5,327)	5,366)	5,878)	5,841)	5,902)	5,676)	5,823)	5,719)	5,563)	5,334)	5,445)	5,153)	4,732)	4,222)	4,311)	4,020)	3,789)	3,482)
Product sales	4,376)	3,772)	3,802)	4,389)	3,776)	3,219)	3,124)	3,406)	3,318)	3,237)	3,031)	3,167)	2,591)	2,536)	2,402)	2,434)	2,324)	2,041)	1,740)	1,914)	1,827)	1,845)	1,741)
Revenue	9,449)	8,972)	8,721)	9,744)	8,928)	8,546)	8,490)	9,284)	9,159)	9,139)	8,707)	8,990)	8,310)	8,099)	7,736)	7,879)	7,477)	6,773)	5,962)	6,225)	5,847)	5,634)	5,223)
Cost of services	(4,138)	(4,340)	(4,049)	(4,206)	(4,075)	(4,227)	(4,256)	(4,444)	(4,465)	(4,523)	(4,415)	(4,454)	(4,360)	(4,288)	(4,129)	(4,151)	(3,975)	(3,720)	(3,387)	(3,541)	(3,334)	(3,223)	(3,031)
Cost of sales	(3,745)	(3,237)	(3,341)	(3,807)	(3,295)	(2,707)	(2,628)	(2,879)	(2,772)	(2,739)	(2,592)	(2,739)	(2,232)	(2,214)	(2,156)	(2,156)	(2,067)	(1,848)	(1,626)	(1,596)	(1,528)	(1,545)	(1,473)
Cost of revenue	(7,883)	(7,577)	(7,390)	(8,013)	(7,370)	(6,934)	(6,884)	(7,323)	(7,237)	(7,262)	(7,007)	(7,193)	(6,592)	(6,502)	(6,285)	(6,307)	(6,042)	(5,568)	(5,013)	(5,137)	(4,862)	(4,768)	(4,504)
Gross margin	1,566)	1,395)	1,331)	1,731)	1,558)	1,612)	1,606)	1,961)	1,922)	1,877)	1,700)	1,797)	1,718)	1,597)	1,451)	1,572)	1,435)	1,205)	949)	1,088)	985)	866)	719)
Research & engineering	(156)	(171)	(164)	(187)	(170)	(180)	(172)	(192)	(187)	(188)	(182)	(188)	(186)	(163)	(174)	(179)	(160)	(154)	(141)	(145)	(140)	(134)	(135)
General & administrative	(84)	(84)	(97)	(85)	(72)	(87)	(96)	(80)	(90)	(94)	(121)	(96)	(81)	(96)	(91)	(99)	(94)	(86)	(97)	(108)	(80)	(70)	(81)
Restructuring & other	(187)	—)	—)	(55)	(109)	(135)	(158)	(223)	(65)	(111)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Impairments	—)	—)	—)	(331)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Merger & integration	(55)	(69)	(41)	(76)	(143)	(35)	(48)	(63)	(33)	(16)	(11)	(45)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Operating income	1,084)	1,071)	1,029)	997)	1,064)	1,175)	1,132)	1,403)	1,547)	1,468)	1,386)	1,468)	1,451)	1,338)	1,186)	1,294)	1,181)	965)	711)	835)	765)	662)	503)
Interest & other income	68)	76)	43)	73)	78)	252)	78)	115)	96)	85)	84)	95)	73)	82)	92)	174)	75)	311)	50)	57)	56)	16)	19)
Interest expense	(133)	(128)	(116)	(127)	(142)	(142)	(147)	(131)	(136)	(132)	(113)	(130)	(129)	(127)	(117)	(121)	(122)	(124)	(123)	(137)	(130)	(136)	(136)
Income before taxes	1,019)	1,019)	956)	943)	1,000)	1,285)	1,063)	1,387)	1,507)	1,421)	1,357)	1,433)	1,395)	1,293)	1,161)	1,347)	1,134)	1,152)	638)	755)	691)	542)	386)
Tax expense	(239)	(204)	(195)	(143)	(226)	(237)	(234)	(269)	(289)	(276)	(259)	(285)	(259)	(246)	(217)	(264)	(215)	(182)	(118)	(144)	(129)	(99)	(74)
Net income	780)	815)	761)	800)	774)	1,048)	829)	1,118)	1,218)	1,145)	1,098)	1,148)	1,136)	1,047)	944)	1,083)	919)	970)	520)	611)	562)	443)	312)
Net income attributable to noncontrolling interests	(45)	(29)	(9)	24)	(35)	(34)	(32)	(23)	(32)	(33)	(30)	(35)	(13)	(14)	(10)	(18)	(12)	(11)	(10)	(10)	(12)	(12)	(13)
Net income attributable to SLB	735)	786)	752)	824)	739)	1,014)	797)	1,095)	1,186)	1,112)	1,068)	1,113)	1,123)	1,033)	934)	1,065)	907)	959)	510)	601)	550)	431)	299)

Revenue exhibits a consistent upward trajectory from early 2021 through late 2024, growing from 5.22 billion USD to a peak of 9.28 billion USD. While a period of volatility is observed throughout 2025 and 2026, the overall revenue level remains substantially higher than the 2021 baseline, ending at 9.45 billion USD in September 2026.

Revenue Composition and Mix: A structural shift in revenue generation is evident. Service revenue grew steadily from 3.48 billion USD in March 2021 to a plateau around 5.8 billion USD by late 2024, subsequently stabilizing between 4.9 billion and 5.3 billion USD in 2025-2026. In contrast, product sales demonstrated more aggressive growth, increasing from 1.74 billion USD in March 2021 to 4.38 billion USD by September 2026, indicating an increasing reliance on product-based income.
Gross Profitability: Gross margin expanded significantly from 719 million USD in the first quarter of 2021 to a peak of 1.96 billion USD in December 2024. This expansion reflects improved cost management relative to revenue growth for several years. However, a contraction is noted starting in 2025, with margins fluctuating between 1.33 billion and 1.73 billion USD, coinciding with increased costs of sales in the product segment.
Operating Expenses and Non-Recurring Costs: Research and engineering expenses remained relatively stable, fluctuating between 134 million and 192 million USD. General and administrative expenses also stayed consistent. However, significant downward pressure on operating income emerged starting in June 2024 due to the introduction of substantial restructuring and other charges, as well as merger and integration costs. These non-recurring expenses peaked in late 2024 and continued through 2026, materially offsetting gains in gross margin.
Operating Income and Net Profitability: Operating income grew from 503 million USD in March 2021 to a high of 1.55 billion USD in September 2024. Subsequent quarters show a moderation in operating income, settling around 1.08 billion USD by September 2026. Net income attributable to SLB followed a similar pattern, rising from 299 million USD in early 2021 to a peak of 1.19 billion USD in September 2024, before stabilizing in the 735 million to 824 million USD range during the 2025-2026 period.

The financial trajectory is characterized by strong top-line growth and margin expansion through 2024, followed by a phase of operational consolidation. The transition toward higher product sales has increased total revenue but has also introduced higher cost volatility and significant integration-related expenses that have moderated net profitability in the most recent quarters.

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SLB N.V. (NYSE:SLB)

Income StatementQuarterly Data

Income Statement
Quarterly Data