SLB pairs oilfield recovery with data-center cooling growth
SLB beat third-quarter revenue and profit estimates as international and North American activity improved. Its unit supplying cooling infrastructure for data centers expanded 76% from a year earlier, adding a business beyond oilfield services. Shares rose more than 7% after the results.
SLB’s third-quarter 2026 revenue was about $9.45 billion, up 6% year over year and above the $9.27 billion consensus. Adjusted profit was $0.64 a share versus $0.62 expected. International sales rose 5% sequentially, with Middle East activity up 13%; North American revenue also improved.
The ChampionX business, acquired in July 2025, added roughly $956 million in quarterly revenue. SLB produced about $1.5 billion in operating cash flow, including $828 million free cash flow, and declared a $0.295 quarterly dividend payable in January 2027. Its Data Center Solutions unit grew 76% year over year and 23% sequentially.
SLB’s move into data-center cooling could link an old-line energy-services firm more closely to AI infrastructure, affecting investors, data-center operators, utilities, and nearby communities. If demand keeps rising, the company may help shape how efficiently large computing facilities use power and water, while its oilfield recovery could support energy-sector employment. The outcome may depend on whether cooling growth proves durable and whether added infrastructure capacity keeps pace with local resources and grid constraints.