Q2 2025 Schlumberger NV Earnings Call Transcript
Key Points
- SLB (SLB) delivered steady revenue and slight EBITDA margin expansion despite macro headwinds and market volatility.
- International markets saw a 2% revenue growth, driven by strong performance in the Middle East, Asia, and North Africa.
- The acquisition of ChampionX is expected to enhance SLB's portfolio, particularly in production chemicals and artificial lift, and is anticipated to generate $400 million in annual pretax synergies within three years.
- Digital revenue remained steady with double-digit growth across platforms, applications, and digital operations.
- SLB's diverse portfolio and broad operating footprint enable resilience against regional headwinds and evolving macro dynamics.
- North American revenue declined sequentially, primarily due to the seasonal spring breakup in Canada and non-repeat of exploration data sales in US offshore.
- Revenue in Reservoir Performance declined slightly due to lower evaluation and stimulation activity.
- The macro environment remains uncertain, particularly with new OPEC+ supply releases into a well-supplied market.
- Short cycle markets, particularly in North America, have shown more reactivity to lower commodity prices, posing downside risks.
- The integration of ChampionX will incur additional costs, including $0.02 of merger and integration charges.
Good morning. My name is Meghan, and I'll be your conference operator today and would like to welcome everyone to the second quarter SLB earnings call.
(Operator Instructions)
As a reminder, this call is being recorded.
I would now turn the call over to James R. McDonald, Senior Vice President of Investor Relations and Industry Affairs. Please go ahead.
Thank you, Meghan. Good morning, and welcome to the SLB second-quarter 2025 earnings conference call. Todayâs call is being hosted from Paris, following our Board meeting held earlier this week.
Joining us on the call are Olivier Le Peuch, Chief Executive Officer; and Stephane Biguet, Chief Financial Officer.
Before we begin, I would like to remind all participants that some of the statements we will be making today are forward-looking. These matters involve risks and uncertainties that could cause our results to differ materially from those projected in these
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