Energy services firm SLB closed 2025 with a rebound in its quarterly results and a clear commitment to shareholder remuneration. The company announced that it will return more than $4 billion to its investors in 2026 through dividends and share buybacks, following a year-end marked by the integration of ChampionX and outstanding growth in its digital solutions.
Mixed revenues and integration of ChampionX at year end
During the fourth quarter, SLB reported revenues of US$9.75 billion, representing sequential growth of 9% and a year-over-year increase of 5%. However, attributable net income was $824 million, down 25% versus the same period in 2024. Despite the year-on-year decline, the company managed to increase its free cash flow to US$2.29 billion.
The ChampionX acquisition, completed in the third quarter, contributed US$879 million in revenue and US$206 million in adjusted EBITDA in the last three months of the year alone. This contribution consolidated the production systems division as one of the most profitable in SLB’s portfolio. Excluding this integration, overall quarterly revenues would have increased 6% sequentially.
In the digital segment, the company reported 9% year-over-year growth in revenues, achieving an adjusted EBITDA margin of 35%. It is worth highlighting the 15% year-on-year increase in digitized recurring revenues (ARR), driven by the adoption of solutions based on artificial intelligence and operations automation. At the same time, the data center business grew 121% year-on-year, strengthening its role as one of the main growth drivers for the coming years.
Looking ahead to 2026, SLB anticipates a gradual improvement in activity in key markets, especially in the Middle East, where an increase in active platforms is anticipated. The company is positioned to capitalize on this upturn thanks to its established presence in the region.
SLB’s strategy is aligned with the growing demand for intervention services, artificial lift and production chemical solutions. In this sense, the integration of ChampionX not only brought revenues but also differential capabilities that will allow expanding operations in new international markets.
During 2025, SLB generated operating cash flow of US$6.49 billion and free cash flow of US$4.11 billion, despite the challenging international environment. The company also increased its quarterly cash dividend by 3.5% to US$0.295 per share as a sign of confidence in its future performance.
Source and photo: SLB