SLB announced its second-quarter 2025 results, reporting revenue of $8.546 billion, a 1% sequential increase but a 6% year-on-year decrease. Adjusted earnings per share were $0.74, a 28% sequential increase, yet a 4% year-on-year decline.
The company's adjusted EBITDA margin reached 24.0%, a 21-basis point sequential increase, but a 103-basis point year-on-year decrease. International revenue increased 2% sequentially, driven by growth in parts of the Middle East, Asia, Europe, and North Africa, which offset declines in other key markets.
Digital & Integration revenue decreased 1% sequentially and 5% year-on-year, though digital revenue showed double-digit sequential growth in platforms, applications, and digital operations, offset by lower exploration data sales. Its pretax operating margin expanded 240 basis points sequentially to 32.8%.
Production Systems revenue climbed 3% sequentially and remained flat year-on-year, marking its 17th consecutive quarter of year-on-year growth, driven by strong sales of artificial lift and midstream production systems. Its pretax operating margin increased 28 basis points sequentially to 16.4%.
SLB generated $725 million in free cash flow for the first six months of 2025, an increase from $554 million in the prior year. The company remains constructive for the second half of 2025, citing support from the recently completed ChampionX acquisition, its diversified portfolio, and ongoing cost management efforts.
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